Bulgaria: Wheat prices remain under constant pressure

Wheat

Grains, Cereal & Legumes

Bulgaria

Market & Price Trends

Published Mar 19, 2024

Tridge summary

Grain prices are currently low due to an abundance in European warehouses and competition from Ukrainian and Russian imports. Prices for major grain commodities are fluctuating globally, with bread wheat prices falling in Chicago and Ukraine, but rising in Russia. Corn prices are increasing in the USA and France, while barley prices are dropping in Ukraine. Rapeseed prices on Euronext are on the rise. Stratégie Grains has revised its forecast for the 2024/2025 season, reducing its prediction for total EU wheat and barley production, but increasing its forecast for EU maize production due to an expansion in the planted area.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Grain prices cannot break out of the bottom where they have been anchored for quite some time. European manufacturers' warehouses are still full and exports almost impossible due to pressure from Ukrainian and Russian imports. Fluctuations in the prices of all major grain commodities on the world stock markets continued this week as well, according to experts from the Sofia Stock Exchange (SSE). The FOB price of bread wheat in Chicago fell $5 to $225/ton, in France it was unchanged at €196/ton, and in Ukraine it fell $5 to $195/ton. Seven days ago, Russia had lowered its quotations, but now it reversed the trend and shot up sharply by 29 dollars to 235 dollars/ton. The movement in corn prices has reversed course and headed higher. In the USA, the price rose by 7 dollars to 193 dollars/ton, in France the change was by plus 2 euros to 176 euros/ton, and in Russia, after the previous collapse of a month ago, the quotations are again unchanged at 181 dollars/ton. The price of barley ...

Source: Agri