Wheat prices rise with possible wave of purchases

The wheat prices are now recording rising rates on a daily basis, supported by possible buying interest. The local markets are also coming into motion, as they benefit from price increases on the global market. A rising market increases buyer interest, as they do not want to miss out. A new tender is expected from Jordan for the purchase of milling wheat. Additionally, there is speculation about possible Chinese wheat purchases in the United States. In recent months, a declining market was precisely the reason these buyers stayed hidden, partly out of fear of overpaying. The possible purchases are further driving up wheat prices. On the futures market in Paris, trading in December wheat closed €1 higher at €194.75 per ton. The market is now €8.50 higher than at the low point at the end of September. Trading in contracts for delivery in May has risen in the recovering market to just above €200 per ton, and the March contracts are close to this threshold. We see the same picture in the price developments on the futures market in Chicago. The December contract on this exchange has risen to just above $5.50 per bushel. This is equivalent to €176 per ton. In mid-October, this price was still below $5 per bushel, or €160 per ton. The prices are currently supported by a recovering export of wheat from the US. This signal is based on export inspection reports, as official export figures are still missing due to the currently longest shutdown of the US government. Dutch prices In the Netherlands, wheat prices have also rebounded. The Grain Exchange in Groningen quotes this week €184 per ton. This puts the price €6 above the low point of €178 per ton at the end of September and early October. In the second half of October, the first step towards €180 was taken, and that increase has been continued over the past two weeks. However, the exchange is not very enthusiastic yet. The price changes are not significant enough. More importantly, the confidence is lacking. Under the influence of international developments and large global grain stocks, the market remains uncertain, notes the listing committee in Groningen.Corn and soy take a step back In corn, prices are rising in Paris, while the quotes in Chicago took a step back. One explanation for this is a slight depreciation of the euro. Additionally, Ukraine is exporting less corn than in previous years. This means that the European Union has to purchase more corn elsewhere (from Brazil and the US) to meet the demand. EU countries are particularly buying more corn in Brazil, and a slight increase in ethanol production there is directly perceived as price-increasing. Soy also takes a step back after the surge in recent weeks. The most traded contract - January 2026 - fell in Chicago by 12.75 cents to $11.21¼ per bushel. This is equivalent to €358 per ton. In mid-October, this contract was still at $10.24 per bushel. At the beginning of this week, the price rose to $11.34 per bushel, and after that strong surge, something had to be given back on Tuesday.