Wheat and corn prices fall sharply

Wheat and corn prices fell sharply on Friday, October 15, 2026, on both the Chicago Mercantile Exchange (CBOT) and Euronext, according to reports from multiple sources.

Price drops on CBOT

On the CBOT, wheat prices dropped 2 to nearly 10 cents per bushel depending on the contracts, with the December 2026 contract falling 9.50 cents to 660.5 cents per bushel and the March 2027 contract losing 9.25 cents to 675 cents per bushel. Corn prices on the CBOT also fell, with the December 2026 contract losing 3.75 cents per bushel to 474.25 cents per bushel and the March 2027 contract falling 4.50 cents to 486.5 cents per bushel.

Price drops on Euronext

On Euronext, wheat prices decreased 2 to just over 3 euros per ton depending on the contracts, with the December 2026 contract falling 2.50 euros per ton to 243.75 euros per ton and the March 2027 contract falling 3.25 euros per ton to 243.75 euros per ton. Corn prices on Euronext also fell sharply, with the November 2026 contract losing 8.75 euros per ton to 292.50 euros per ton, the March 2027 contract falling 4.50 euros per ton to 271.25 euros per ton, and the May 2027 contract decreasing 4.25 euros per ton to 268 euros per ton.

Favorable weather boosts harvests

The decline in cereal prices is attributed to favorable weather conditions in major global production regions, including the United States, Europe, and Australia, which have improved harvest and planting prospects. However, the price decline is limited by logistical difficulties in the Black Sea and a decrease in corn production in Europe.

Russian wheat areas decline

In Russia, wheat areas have continued to decline for the fourth consecutive year due to insufficient profitability, with a total decline of about 3 million hectares. If this trend continues, Russian production could decrease by 14 to 18 million tons in 2027/28. In the short term, the impact is limited as markets are more influenced by current harvests and export flows.

Export challenges in Black Sea

In Ukraine and the southwest of Russia, the expected precipitation is also favorable for winter crops, but market concerns in this region remain more related to export conditions than to production prospects. Russian wheat exports are expected to fall to just 2.5 million tons in October, compared to 5.4 million tons a year earlier, according to estimates by SovEcon.

Brazil improves corn prospects

In Brazil, rains are gradually reaching the main agricultural areas of the Center-West, improving soil moisture and strengthening the prospects for the upcoming safrinha corn harvest. With Brazil becoming a major player in global corn exports, this development is seen as a downward factor for international prices.

Euro strengthens slightly

The euro appreciated slightly against the dollar on Friday, with the exchange rate at 1.1239 dollars compared to 1.1217 dollars the previous day. The euro was exchanged at 1.1233 dollars in the morning at 6:40 (Paris time).

Harvest progress in France

In France, the corn harvest is nearing completion, with 92% of the corn areas harvested, compared to 53% at the same time last year and 46% on average over the past five years. According to the Céré'Obs report published by FranceAgriMer on Friday, 15% of the planned wheat areas were sown by October 12, compared to 4% the previous week.

New control of Baltic Grain Terminal

Bunge Global SA and CM Holding A/S have obtained authorization from the European Commission to jointly take control of the Baltic Grain Terminal (BTZ), located in the Polish port of Gdynia. The two groups have a 30-year concession and plan to significantly modernize the facilities and increase loading and storage capacities.

Black Sea corridor remains unresolved

President Volodymyr Zelensky indicated on October 18 to Bloomberg that Russia had not accepted any of the proposals aimed at restoring a secure maritime corridor in the Black Sea, despite initiatives by Turkey, India, and Egypt. Note, however, that Romania has recently proposed the creation of a joint NATO military command in the Black Sea to strengthen regional security.