It was being announced and the worst news for the sector has already been confirmed: Cereal is now trading below the start of the war conflict in Ukraine, with falls of between 13 and 20 euros in all cereal categories at the León market.
One day before the military conflict in Ukraine, at the session of the Lótja de Léon on February 23, 2022, wheat traded at €280/Tm, barley at €271/Tm and corn at €277/Tm. At the next Llotja on March 9, 2022, wheat was quoted at €350/Tm and barley and maize at €340/Tm. The highest price achieved by cereal was in the session of May 25, 2022, where wheat was quoted at €377/Tm, barley at €360/Tm and corn at €363/ Tm. In the session on the 23rd, wheat traded at €268/Tm, barley at €248/Tm and maize at €267/Tm. So since the highs, wheat has lost almost 30% of its value, barley 31% and corn more than 26%.
Carrier purchases are virtually at a standstill as they wait for new opportunities. Livestock consumption has been withdrawn and therefore feed mills are covered for now. The pessimism, which is established in the international markets, drags the national market and as of now, no one dares to set a minimum, so the news that today is already quoted below the beginning of the war conflict of Ukraine may fall short. On the other hand, a dull session in which only Friesian live cattle rose strongly, going from €50/unit to €90/unit.