Price recovery takes wheat in Paris back above 190 euros

The wheat prices show a recovery this week. The futures markets are rising slightly, bringing the wheat price of the December contract in Paris back above €190 per ton. There are also slight increases locally. The trade is now increasingly shifting to the March contract. We see this in both Paris and Chicago. The value of this contract in Paris is over €5 per ton above the December contract. May is another €4 above €200 per ton. There is also trading in harvest 2026, and those prices are about €20 per ton higher than the quotes for the current harvest.In Chicago, the picture is no different. The December contract is at $5.46½, and for March 2026, the price is $5.59 per bushel. Converted, the December price stands at €173 per ton, which is €3 higher than a week ago. A premium of €4 per ton is paid for the March contract compared to December. A slightly weaker euro and exports that are making up the deficit compared to last year provide support for the wheat price in the European Union. According to the latest figures from the European Commission, the wheat export has now reached a comparable level to last year during the same period. Up until last week, 9.3 million tons have been exported. Morocco is the best customer with a purchase of 1.7 million tons of wheat from the EU, mainly from Spain and France. Saudi Arabia follows as second with an import of just under 700,000 tons. Nigeria, Egypt, and Jordan have each bought approximately 500,000 tons so far. Algeria was previously the largest buyer of French wheat, but this season it ranks sixth with an import of 400,000 tons of EU wheat. This season, Algeria is mainly sourcing European wheat from Romania and Latvia. However, the largest wheat quantities are now being purchased from Russia. Now for the exchange rate. Last week, the value of the euro rose to $1.165. This week, the rate fell back to $1.159. This makes EU wheat slightly more attractive again for buyers paying in dollars. Locally, we also see a slight improvement in the wheat price. At the Groningen Grain Exchange, both wheat and barley rose by €1 to €186 and €185 per ton respectively. The prices recovered slightly despite very limited demand. On the other hand, the supply is also very limited.