Copyright © 2021 Mintec Limited Contents
Grains
Maize (corn) & Wheat
5 Maize CBOT - USD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
100
130
160
190
220
250
CRNC - Maize no 2 CME Chic US (DH-3)
CBOT maize prices remained stable m-o-m in May. Prices fell from mid-month following the USDA's report on the
rapid planting that is progressing for the 2021/22 crop and beneficial moisture in the US Midwest. However, prices
remained well above last year, at 83.3%, driven by market concerns over the Brazilian maize crop, due to what
was described as the worst water crisis in almost a century. As a result, the CBOT maize price reached a monthly
average of USD 234/MT.
The May monthly average price of Euronext maize rose notably by 13% m-o-m to EUR 248/MT and 47.2% y-o-y,
mirroring increases in the benchmark price on the back of tight supplies and weather concerns across major
producing countries. In addition, the EU maize supply is projected to remain tight for the rest of 2020/21, with the
season's ending stocks expected to be 625,000 tonnes lower compared to 2019/20 (-8.2%).
Maize Euronext - EUR/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
130
160
190
220
250
280
CRNP - Maize yellow A1 Euronext Paris (DH-3)
Wheat CBOT - USD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
140
160
180
200
220
240
260
280
WHTC - Wheat milling no 2 CME Chic US (DH-3)
The CBOT wheat price continued rising in May and settled at a monthly average of USD 258.5/MT, up 5.4% m-om
and 36.7% y-o-y. The wheat market is on a bullish run, reflecting rises in the maize market driven by tight supply
and substantial Chinese purchases. Additionally, weather concerns in the USA (lack of rain in the Midwest
potentially impacting maize development and the poor condition of US spring wheat crops because of drought)
supported wheat prices further.
The monthly average price of Euronext wheat rose by 3.6% m-o-m and 16.2% y-o-y in May to EUR 217/MT,
supported by global weather events impacting wheat and maize crops in North America. In addition, substantially
smaller domestic production has resulted in tight supplies, thus supporting prices.
Wheat Euronext - EUR/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
140
160
180
200
220
240
WHT2 - Wheat milling Euronext Paris (DH-3)