European wheat prices drop

European wheat prices fell between October 19 and 20, 2026, with the December contract dropping 2 euros per tonne to 241.50 euros per tonne, and the March and May contracts each falling by 2.75 euros per tonne. This decline mirrored similar movements in U.S. markets, where the December CBOT contract lost 12 cents per bushel to 6.4325 dollars per bushel.

European wheat exports remain steady

European wheat exports have remained consistent with last year's levels, and tricolor wheat, a common type in the region, continues to be competitive in international markets. Eastern European countries such as Romania, Bulgaria, Latvia, and Poland have been particularly successful in wheat exports.

French corn harvest falls sharply

The French corn harvest is expected to reach 7.04 million tonnes, a significant drop from the 13.7 million tonnes recorded in 2025. This reduction has led to a rise in European corn prices, with the November contract increasing by 2 euros per tonne to 294.75 euros per tonne.

U.S. and Brazilian corn harvests lag

The U.S. corn harvest is estimated at 44% completion, below the five-year average of 52%. Consultant Michael Cordonnier has raised his forecast for Brazil's corn harvest to 140 million tonnes, adding 2 million tonnes to his previous estimate, while maintaining the Argentine forecast at 60 million tonnes.

Southern hemisphere faces excess rainfall

Increased rainfall in the southern hemisphere has raised concerns, especially in Argentina and Australia, where areas with excess water have been reported. In the U.S., the sowing and emergence of winter wheat are slightly below the five-year average, but this has not triggered major market concerns.

Russian and Romanian agricultural updates

In Russia, 70% of winter sowing had been completed by October 16, according to the agriculture minister, with tensions somewhat eased. In Romania, rail freight near the port of Constanza is being reorganized to eliminate the priority system and clarify responsibilities in case of delays.

Romanian storage and transport challenges

Analyst Cesar Gheorghe noted that Romania's limited storage capacity of 16.5 million tonnes has turned grain wagons into "true wagons with silos." Large-scale work on tracks leading to the port and a lack of locomotives are delaying traffic, and navigation on the Sulina channel of the Danube has been frequently interrupted by weather conditions.

French cereal prices and Ukrainian exports

Physical market quotations in France on October 20, 2026, showed varying prices for different cereals and wheat products, with corn prices rising and wheat prices falling. Ukrainian wheat exports dropped significantly compared to the previous year, reaching 473,000 tonnes as of October 19, compared to 1.026 million tonnes in the same period in 2025.

Currency and freight rates reported

The evolution of the dollar/euro exchange rate and maritime freight indices were also reported, with the Baltic Dry Index at 2546 and the Baltic Panamax Index at 2286 on October 19. Energy and sugar prices were also noted, with oil at 97.82 dollars on the Nymex Dec. 2026 contract and sugar at 547.10 dollars per tonne on the London Dec. 2026 contract.