Is the price of 400 BGN/tonne for wheat achievable?

In brief: • Stock market prices are in a downward spiral, but those at ports have increased • Delayed exports from global suppliers are reflecting on the market Over the past week, the market witnessed some divergence in the development of stock and spot prices. On the stock market front, the pressure from Chicago made its mark in Paris. Therefore, despite the real support provided by the euro/dollar quotes, which fluctuated near 1.1400 compared to 1.1800 at the beginning of the week, Euronext prices resumed their downward trend at the end of the week. On the other hand, regional spot prices instilled new hope in producers. With offers reaching up to 350-370 BGN/ton, market participants began to believe that the long-awaited 400 BGN/ton for wheat could indeed be achieved. Without commenting on the future, experts explain the current situation by the fact that wheat exports from major global suppliers started the season very weakly, with July deliveries being significantly ...