PARIS: European wheat fell on Thursday, pressured by a stronger euro and ample global supplies, while maize edged higher as ongoing concerns of heat damage to crops continued to support prices.
Benchmark September milling wheat on Paris-based Euronext, settled 1.7 percent lower at €206 (USD234.49) a metric ton.
August maize rose 0.2 percent to €228 a ton after hitting a contract high in the previous session.
“Heat and dryness have become the dominant themes, particularly for EU corn, although wheat markets remain constrained by intense export competition and generally comfortable global supply prospects,” ADM’s British branch said in a note.
The International Grains Council has raised its forecast for 2026/27 global wheat production by 1 million metric tons to 821 million tons, with Russia’s crop outlook increased to 89 million tons from a previous forecast of 87.9 million.
IGC also lifted its 2026/27 world corn crop forecast by 10 million metric tons to 1.310 billion tons, though this would still trail the prior season’s 1.339 billion.
Concerns were rising about damage to crops, mainly maize, from record temperatures in France and Western Europe.