Market information – week 8

  1. MATIF wheat prices accelerate losses
    News from Bulgaria
    Today’s weather maps show that we are going to have a very dry and warm week, or so are the forecasts until Friday.
    Forecasts up to early March remain predominantly dry, but they do not support sustainable warming in terms of temperatures. After sustained sustainability, the pressure on wheat prices is boosted by seeing MATIF’s failure continue this morning.
    The biggest damage suffers the old crop, which for the last week wiped $ 11.33. On the basis of the CPT Black Sea port, the prices in Bulgaria for the week fell by $ 4.06 to $ 220.21 for the bread and $ 210.35 for the forage.
    • The maize market continues to be lost, with prices for the week falling by  $ 1.74 to  $ 168. The barley loses  $ 2.90 to   $ 205.73.
    • Renewed pressure is also felt by the sunflower prices, losing  $ 2 to  $345 per port and  $333 dropped to oil.
    • The collapse of MATIF has brought down prices of rapeseed in Bulgaria, which, although nominal, for the week are losing $ 9.80 to $ 390.
    Highlights
     
    1. The total production of palm oil from the
      Central and South America for 2018 reached 3.99 million.
      ton, and for 2019 it is expected to reach 4.2 million tonnes.
    2. The growth of soybean processing in Egypt
      reduced the need for soybean imports to 840 – 850 thousand.
      ton in 2018, which is 30% less than in 2017.
    3. EU-28 increased the import of sunflower oil through
      October / December 2018 to 480 thousand tons (versus 415
      thousand tons for the same period of the previous year).
    4. Export of vegetable oils and oilcake from
      Russia in October / December 2018 decreased by contrast
      from the export of oilseeds.
    5. Export of vegetable oils and oilcake from
      Ukraine exceeded last year’s level in January
      2019 The reason for this was the significant internal ones
      stocks, as well as increased world demand due to
      attractive prices.