2024-10-07 01:06:21
In the first days of October, the trend towards an increase in the prices of cereals on the world stock markets continues, report the experts of the Sofia Stock Exchange (SSE).
This is due to the revised downwards forecast for world wheat production, but mostly to the escalation of military conflicts in Ukraine and Israel, as well as the lack of clarity in the upcoming US elections.
The FOB (Free On Board) price of bread wheat in Chicago rose another $15 to $270 a tonne for delivery in October. France also significantly increased quotations by 12 euros to 234 euros per ton. Ukraine and Russia followed the hike more moderately, adding $2 and $4 respectively to prices of $227 and $223 a tonne.
The movement of the price of corn in the USA is also clearly expressed in the upward direction – plus 5 dollars in the USA to 213 dollars per ton, in France the growth is by 9 euros to 220 euros per ton, and in Ukraine – by 4 dollars to 212 dollars per ton tone.
Barley prices in Ukraine rose another $4 to $194 a tonne for October delivery, while Euronext rapeseed for November delivery this week rose more sharply by €6 to €481 a tonne.
Crude sunflower oil contracts on the Rotterdam Stock Exchange for October delivery, after long losses and a slight jump higher, are now down $5 at $1,115 a tonne. Refined sugar also continued its long-term swing, after two straight weeks of strong gains, now down $9.90 for October delivery to $584 a tonne on the London Stock Exchange.
At the Sofia Commodity Exchange, trade in grain goods is calm. Bread wheat from this year’s harvest is wanted at a price of BGN 370 per ton, the supply is much higher at BGN 530 per ton. Feed wheat announcements range between BGN 362 per ton for buyers and BGN 500 per ton for sellers.
The prices of basic commodities are stable at the same level as the initial prices. Oil in bottles is sold at BGN 2.20 per liter, as well as unrefined oil at BGN 1,750 per ton. Yellow peas continue to be offered in big bags of one ton at a starting price of BGN 1,200 per ton.
In the subsection “Industrial goods” of the SSB, there were deals for gas oil for PCC from BGN 2,033 to BGN 2,194.42/thousand liters, for propane butane gas from BGN 940 to BGN 975/thousand liters.