The price of corn will remain low in maize is expected to increase slightly

Prices of bread wheat and maize in the first half noted a trend of sustained decline by next month (according to data at the time) expected price of wheat to maintain low and in maize to rise slightly, the aggregate data suggest the Sofia Stock Exchange (SSB). This trend is valid for Bulgaria and Europe.

According to preliminary data of the World Council of Grain, the yield of bread wheat for this year will be 652 million tons, ie slightly lower than last year, but so. transitional balance will be 18 million tons more and will reach 168 million tons, which is one of the main prerequisites for maintaining lower compared to last year prices of grain worldwide. Other major factors affecting to lower prices of bread annual grain demand is reduced because of economic crisis and reduced consumption of grain of some of the major importers such as Egypt, Morocco and Algeria, as well as expected higher exports from Russia and Ukraine .

Regarding the situation in our country, then the wheat harvest of new wholesale prices are generally around 32% lower than those in which transactions are concluded at the same time last year, ie about 230 € / t, where about 300 € / t * for June-July last year. Furthermore, it should be borne in mind that over 80% of wheat in Bulgaria is not high quality due to use of seeds, less irrigation, etc..

Available in SSB from white flour mills type 500 wholesale (in bags of 50 kilograms) in June for around 350 € / t, while a year ago the price was 550 € / t.

At the same time, expectations for maize on a European scale is its price in the coming months increased slightly due to current high demand, incl. and production of biofuels. Currently FOB Ukrainian maize price is 140 dollars / t, and the Hungarian – 182 USD / t.

After a peak in the first half of the price of oil and raw sunflower oil, which was at the end of May, their prices go down again now because of reduced demand, although the estimates do not show a particularly high yield of sunflower.

Current price of raw oil in Rotterdam is 850 dollars / t. In our country at the end of June, the wholesale price of bottled oil averaged 1,5-1,6 € / l, while in June last year was 2.7 € / l.

Major traded food in exchange sugar only in the first half showed growth on a European scale, and almost 40 percent compared to the end of last year. To date, the quotations of the raw sugar in New York is 359 dollars / tons, and refined in London – 447 USD / t.

In Bulgaria the average price of packaged white sugar at the end of June was 1.2 € / kg to 1.25 € / kg in mid-2008 when last year the price of sugar in Europe accounted for, in our maintain the same or even grew slightly, so now the forecasts are for only a slight rise in the autumn.

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Finance

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