Spain: Cereal prices fall in July pressured by good international supply

Published 2024년 7월 8일

Tridge summary

Spanish markets have seen a decrease in cereal prices in July due to predictions of good international harvests, leading to an oversupply. The prices for soft wheat, corn, durum wheat, and oats have all seen a decline in the first week of July. Barley and malt barley prices have also decreased. World cereal production is projected to hit a record high, although there are concerns about the quality of wheat in Europe and corn production in South America. Spain, a country with grain deficiency, is expecting an abundant harvest this year following a catastrophic drought in 2023. Since January 2024, soft wheat prices have decreased by 9.36%, corn by 3.74%, barley by 14.09%, durum wheat by 22.11%, malt barley by 15.82%, and oats by 26.38%.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Spanish markets begin the month with falls in cereal prices, due to international forecasts of good harvests. Cereal prices have fallen in Spanish markets so far in July, under the pressure of good international supply, as sources from the Accoe wholesale trade association informed Efeagro this Monday. "Harvest pressure in both hemispheres continues to push down prices" of cereals in Spain, as confirmed by the wholesale trade. In the first week of July (data up to last Friday) the prices and their variations with respect to the previous week were as follows: soft wheat, 219.46 euros/ton (-0.63%); corn, 224.35 euros/ton (-0.81%); durum wheat, 286.25 euros/ton (-0.09%) and oats, 229.83 euros/ton (-0.68%). Barley fell 1.02%, to 198.83 euros/ton, while malt barley fell 2.2%, to 211.5 euros/ton. According to Accoe, world cereal production is aiming for a "record", although in Europe, after the rains, there is fear about the quality of wheat and in South America corn production may ...

Source: PEefeagro