Weekly Summary 34

  • News from the markets in Bulgaria

    Weather forecasts indicate hot and dry conditions at the beginning of the new week.
    Rain and cooling are expected by Thursday and Friday, but temperatures will remain around and above seasonal norms.
    With the continued weakness of MATIF, grain markets in Bulgaria are also weak.
    Over the past week, wheat prices have fallen by $2.86 to $121.95 and feed prices by $4.58 to $168.90.
    The maize market remains weak with the upcoming harvest, with prices easing by $7.44 to $157.45 in the last week.
    Although increasingly nominal, the barley market is also part of general weakness, with prices losing  $2.86   and also $157.45.
    The sunflower market is trying to stabilize current levels, with port prices almost unchanged at around $314.90 in the last 2 weeks.
    The coming harvest suppresses the levels of sunflower in the interior, losing  $2.86   for the week to $191.80.
    Highlights:
    • The US intends to impose a 10 percent duty on
      Chinese imports worth $ 300 billion, counting
      from 1 September.
    • Production and processing of oilseeds in
      Russia and Ukraine are expected to be significant in
      2019/2020, which will reflect in magnified
      production and export stocks of vegetable oils.
    • For the period September / August 2019/20 experts expect
      sunflower production in Russia to reach 12.8
      million tonnes (up from 12.76 million tonnes from the previous season).
    • Too long a period of low prices has created a crisis in
      the palm oil industry in Malaysia and Indonesia.
      The main goal in the sector has been the pursuit of reduction
      of costs.
    • Exports of 150-170 thousand tonnes were registered in July
      Ukrainian rape, which exceeds the level for the month of
      last year.