European Commission data points to price gains and, consequently, improved profit margins on the price of bread and animal feed in the Canary Islands over the medium term, but also to logistical bottlenecks. The broad-based rise in cereal prices on continental futures markets coincides with direct operational pressure on the Atlantic islands’ distribution hubs. The ports of Las Palmas and Santa Cruz de Tenerife face a complex scenario marked by the reorganization of cargoes destined for domestic consumption and regional transit. The rise in Milling Wheat prices on the Euronext exchange, with the December contract trading at €241.00 per tonne after gaining €4.25, has an immediate impact on freight and import costs for Canary Islands mills.
The Port of Las Palmas, a key hub for receiving and transshipping grain to the African continent, is feeling the impact of reduced commercial fluidity on northern European routes. In Santa Cruz de Tenerife, meanwhile, the local processing industry is adjusting its operating margins in response to the firmness of the market, as continental trade flows confirm the decisive role of West Africa in the export of European grain. Nigeria has consolidated its position as the European Union’s leading buyer of common wheat, absorbing 322,352 tonnes in the current campaign, representing 21.7% of the bloc’s total exports. This figure contrasts with the 128,836 tonnes recorded in the 2025/26 campaign, or 4.4% of the total, demonstrating the sharp increase in demand in the Gulf of Guinea.
Mali and Ivory Coast also stand out in the Durum Wheat segment. Mali ranks as the second strategic destination, with 3,026 tonnes, or a 12.4% share, while Ivory Coast accounts for 2,445 tonnes, representing 10.0% of the total. In the derivatives category, Angola’s imports of common wheat flour in grain equivalent reach 11,942 tonnes, or a 3.9% share, while South Africa records 12,924 tonnes, or 4.2%.
Evolution of grain futures markets in Europe
In the Milling Wheat segment, the September 2026 contract (MLU26) closed unchanged at €227.25 per tonne after opening at €227.75, with an intraday high of €232.25, a low of €225.75 and trading volume of 22,842 contracts. The December 2026 position (MLZ26), meanwhile, rose €4.25 to close at €241.00 per tonne, trading between a low of €237.50 and a high of €242.00, with heavy trading of 93,685 contracts. The March 2027 expiry (MLH27) gained €3.00 to reach €241.50 per tonne, opening at €239.50 and reaching a high of €242.50, with 20,708 contracts exchanged.
The Corn market posted gains across all quoted maturities. The November 2026 contract (XBX26) rose €4.75 to reach €262.75 per tonne after opening at €259.25 and touching a high of €264.00, with a volume of 1,729 contracts. The more distant positions maintained the same positive trend: March 2027 (XBH27) climbed €3.25 to close at €257.75 per tonne, with 668 contracts traded, while June 2027 (XBM27) also gained €3.25, closing at €256.25 per tonne with more limited activity of 58 contracts.
As for Feed Wheat, the November 2026 position (LWX26) rose £1.00 to close at £205.75 per tonne after trading between a low of £205.00 and a high of £207.50, with a total of 516 contracts. The January 2027 (LWF27) and March 2027 (LWH27) expiries recorded identical gains of £0.75, placing their respective closes at £207.50 and £209.50 per tonne; neither position registered any volume during the trading session.
Finally, Rapeseed futures posted downward corrections across the entire price curve. The November 2026 contract (XRX26) fell €7.00 to €544.75 per tonne after reaching a high of €554.00 and a low of €543.50, with significant volume of 16,665 contracts. Similarly, the February 2027 expiry (XRG27) shed €5.75 to finish at €547.25 per tonne with 6,750 contracts, while the May 2027 position (XRK27) fell €5.50, setting its last price at €546.50 per tonne with 626 contracts exchanged.
The article Brussels acknowledges grain futures rally is pressuring supplies to the Canary Islands and African coast was first published on canarymaritime.com.
