Futures grain prices on both the Euronext exchange in Paris (MATIF) and the Chicago exchange (CBOT) were in reverse across the board during trading yesterday (Wednesday). The uncertainty caused by the turmoil in China earlier in the week continues to weigh on market sentiment as fears mount over reducing demand for grain imports.

Early signs from Paris and Chicago during Thursday morning trade were encouraging, with prices back on an upward curve. However, the volatility makes it difficult to ascertain how real prices are at present.

Europe

Futures prices for December 2015 wheat fell by over €1/t to end Wednesday’s trade at €173.50/t. Prices for December 2016 wheat were more steady – down marginally to just below €184/t.

Maize prices in Paris were also back. November 2015 maize future prices fell by over €1/t to finish on €171/t, while November 2016 maize declined from €180/t to €179/t during Wednesday’s trade.

Rape prices have taken a beating over recent weeks and it was encouraging to see prices levelling off somewhat over the last two days. November 2015 rape prices were down by €3/t to settle just below €352/t. November 2016 rape prices performed better during Wednesday’s trade as they remained steady just below €343/t. Early trading on Thursday saw prices rising again.

Chicago

On the Chicago exchange, prices were down for both wheat and maize.

December 2015 SRW wheat prices were back $2/t to settle just below $182/t (€158/t), while December 2016 SRW wheat fell by over $1/t to finish Wednesday’s trade at $195/t (€170/t).

Futures prices for maize behaved in a similar manner. December 2015 maize prices fell by over $1/t to end the day on $147/t (€128/t), while December 2016 maize was down by a similar amount to settle just below $156/t (€136/t).