The wheat market is under pressure due to exports from the Black Sea region and a stronger dollar, while the effect of the cold in the US is diminishing. This influences futures trading and price formation. Read more about wheat prices and export pressure.
The extent of the damage caused by the cold wave in the United States is not yet clear. However, the end of the cold spell has already caused price developments to drop somewhat. This was reinforced by reports from Ukraine and Russia regarding wheat exports. These reports carry more weight now that the dollar is appreciating again.
In Paris, the price for May contracts fell by €2 to €205,25 per ton. Later terms also dropped slightly in price. The first contract for the new harvest (September 2026) fell by €1,75 to €212,25 per ton. The 2027 harvest went back a little further, by €2,50 to €220,50 per ton.
Chicago closed the day 7,5 cents lower at $5,89¾ per bushel of wheat for the month of May. September showed a similar decline to $6,13¼ per bushel. A year later, the difference is slightly smaller, with a drop of 5,25 cents to $6,44¾ per bushel.
Despite the slight declines, prices are still slightly higher than a week ago. In Paris, the month of May is still showing a gain of €1,25 per ton. The new crop is performing slightly better, with a weekly increase of €2,75 per ton for September delivery. For the 2027 crop, the weekly increase amounts to €3,25 per ton.
In Chicago, prices across the board are slightly below last week's level. However, due to an appreciation of the dollar, the value converted into euros has increased slightly. For instance, the May contract is trading €1 higher than last week, at €188 per ton. Later terms have also seen a slight price increase in euros.
Reports from Russia indicate that wheat exports are being increased slightly again. Ukraine states that exports remain at a good level despite Russian attacks. This pushes the price-driving effect of rising oil prices into the background. A contributing factor is that the uncertain course of the war in the Middle East is causing a wait-and-see attitude in the market.
Middenmeer starts lower with new harvest
The regional exchange in Middenmeer has released the first quotation for wheat from the 2026 harvest this week. The price has been set at €190 per ton delivered to the well. As a result, the new harvest quotation starts lower than last year.
The quotation for the 2025 harvest started at €210 per ton in February last year. In March, the price dropped to €200 per ton. A month later, the decline began to around €185 per ton.
The start of the new season is at the same level as wheat is currently being traded. Wheat from the 2025 harvest is trading €0,50 higher in Middenmeer than last week, at €190 per ton.
The wheat price in Groningen is stabilizing this week at €193 per ton. According to the price committee, there is little interest among growers to sell at this time.