Rouen wheat price and basis

Rouen is France’s main wheat export port and the reference location for Euronext milling wheat futures. This page shows the weekly Rouen milling wheat cash price reported to the European Commission, how it compares with Black Sea and US Gulf origins, and how the Rouen basis against Paris futures is read.

For the week of 1 Nov 2026, Rouen milling wheat was reported at €229.29 per tonne, −20.50 €/t on the week of 18 Oct 2026 and +34.40 €/t on a year earlier (€194.89/t). Over the past 52 weeks the price ranged from €189.05 (21 Dec 2025) to €249.79 (11 Oct 2026).

Rouen milling wheat since 2015

Rouen basis against Euronext futures

The Rouen basis is the cash price minus the settlement of the front Euronext milling wheat (EBM) futures contract on the same date. EBM is settled by physical delivery, so the basis isolates the local premium or discount of port wheat over the exchange price: a firm or rising basis means physical wheat is scarce relative to futures (strong export or miller demand, slow farmer selling); a weak basis means the port is well supplied. As a contract approaches delivery, the option to deliver against it keeps cash and futures from drifting far apart.

The live Rouen basis is calculated from licensed Euronext settlements, so its values are shown only to members in the Wheats terminal, next to the full EBM forward curve. The cash price and spreads on this page come from public sources.

Rouen against Black Sea and US Gulf wheat

Rouen minus Constanța compares French wheat with the Romanian Black Sea origin for the same week; a wider spread means Black Sea wheat is the cheaper choice in import tenders. The US Gulf spreads compare monthly average World Bank export prices for hard red winter (HRW) and soft red winter (SRW) wheat with the monthly average Rouen price converted to dollars at the ECB rate; they show relative value, not a same-day freight-adjusted comparison.

In Oct 2026, US HRW at the Gulf was +42.0 $/t against Rouen and SRW −14.7 $/t.

Sources and licence

Weekly prices come from the European Commission’s cereals market observatory (CC BY 4.0), US Gulf prices from the World Bank Pink Sheet (CC BY 4.0) and exchange rates from the ECB. Prices are those reported for each report week; a missing week is left blank rather than filled. See also Euronext milling wheat futures and WASDE wheat stocks-to-use.