European wheat futures were flat on Tuesday, pressured by a fall in maize futures after a three-week rally on concerns of weather damage from heatwaves in Europe and the U.S. corn belt.
September milling wheat EURONEXT:EBM1! on Paris-based Euronext was unchanged by 1517 GMT at €204.25 ($233.40) a metric ton. The following contracts were also unchanged.
November maize EURONEXT:EMA1! was down 1.5% up at €235.75 a ton after hitting another contract high at €240.75 in earlier trade.
In Chicago, wheat CBOT:ZW1! added 0.4%, while U.S. corn CBOT:ZC1! was up 0.1%, extending its rally as a U.S. heatwave stirred initial concerns about stress to Midwest corn. (GRA/)
Hot and dry weather continues to bite most of France with little to no rain forecast in the next week and temperatures nearing 40 degrees Celsius (104 degrees Fahrenheit) in the southwest, threatening to worsen maize crop conditions.
French growers are already projecting a 30% drop in maize production this year.
European Commission data for the entire 2025/26 season that ended on June 30 showed that EU soft wheat exports rose 8% last season, while barley jumped 72%. Meanwhile, maize imports fell 7%.
Prices at 1517 GMT | Last Change Pct Move | Paris wheat EURONEXT:EBM1! 204.75 0.50 0.24 | Paris maize EURONEXT:EMA1! 235.75 -3.50 -1.46 | Paris rapeseed EURONEXT:ECO1! 513.75 1.00 0.20 | CBOT wheat CBOT:ZW1! 616.75 2.75 0.45 | CBOT corn CBOT:ZC1! 458.25 0.50 0.11 | CBOT soy CBOT:ZS1! 1192.25 0.00 0.00 | Euro/dlr FX:EURUSD 1.14 -0.001 -0.11 | Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne |
($1 = 0.8751 euros)