Rapid US harvest progress and good crop condition were the main factors for maintaining a pronounced downward trend in the market of the main grain goods this week, according to the experts of the Sofia Stock Exchange (SSE), BTA reported.
Under the pressure of the harvest, the price of July futures in Chicago fell to the lowest levels in late June. This was helped by the fact that the numbers released in the US Department of Agriculture report beat expectations for both wheat and corn. However, the deteriorating prospects for the new Russian harvest and the serious climate problems in France were a factor in the stabilization of quotations on the world stock markets.
This week the FOB (Free On Board) price of bread wheat in Chicago remained frozen at $229 a tonne for delivery in August, while France saw a decline by 4 euros to 219 euros per ton. In Ukraine, we are witnessing another decrease in the price from 223 to 215 dollars per ton, and in Russia the change is even more sensitive down – by $11 to $219 per ton.
The price movement for corn in the US was slightly up $2 to $186 a tonne. In France, the price rose by 8 euros to 213 euros per ton, and in Ukraine it fell by 3 dollars to 192 dollars per ton.
At barley in Ukraine, there is a drop of another 8 dollars to 177 dollars per ton for delivery in July-August, and rape on the "Euronext" (Euronext) for delivery in August after its rapid rise is back down by minus 24.25 euros to 476.50 euros per ton.
The unrefined sunflower oil contracts on the Rotterdam Stock Exchange have seen a lot of swings since the beginning of the year. July delivery moved little this week, adding just $5 to $1,050 a tonne. However, refined sugar this week moved sharply lower by $30.90 for August delivery to $553.40 a tonne on the London Stock Exchange.
At the Sofia Commodity Exchange, trade in grain goods remains calm. Bread wheat was available in large quantities at BGN 388 per ton with delivery to buyer (DAP delivery). After deals were concluded last week for forage wheat, brought locally, at a price of BGN 400 per ton, now the demand continues at BGN 340 per ton. Corn for immediate delivery was offered in the range of 360 to 380 BGN per ton, and oil-producing sunflower - from 810 to 840 BGN per ton.
Prices of basic food items remained stable at the same level as initial prices. Oil in bottles was sold at BGN 2.20 per liter, as well as unrefined oil at BGN 1,750 per ton. The offer of yellow peas in big bags of one ton continues at a starting price of BGN 1,200 per ton.
In the sub-circle "Industrial goods" at SSB there were deals for firewood at BGN 230 per ton, for coal at BGN 810 per ton and for pellets at BGN 570 per ton . propane butane gas was also sold in the range from BGN 920 to BGN 975/thousand l.