WEEKLY SUMMARY 42
 
News from the markets in Bulgaria
 
Last week’s warm and sunny weather will be carried over this week as well. Meteorological maps show temperatures between 7-27 degrees Celsius throughout Bulgaria, which will allow wheat sowing and in general field work to progress further.
So far, we have not heard any complaints about humidity due to the warm and dry weather.
The spike in MATIF and Chicago grains has also affected Bulgaria. We start the week with a 3 lv rise in price for bread wheat and a 4 lv rise in forage.
The corn follows the movement of the wheat and adds two leva to 272 leva. However, for barley, which suffers from a certain lack of interest, the situation is reversed and it drops by BGN 2 to BGN 288.
Sunflower rose by BGN 5, supported by export demand for port and domestic demand for processors. Rapeseed, being a direct function of MATIF, records a retreat compared to Friday levels.
 
Highlights
 
  • China and India cut palm oil imports. Some
    other major importers have stocks of this product for
    months ahead. This is the reason for the low prices during
    the last two weeks.
 
  • One of the determining factors for the price of soybeans is whether
    China will import soy from the US and in what quantities.
 
  • G-5 Soybean Exports Increase by 1.5 Million in September
    tonnes due to growth in deliveries from the US and Argentina and
    reached the level of 10.9 million tons.
 
  • In recent months, most of the soybean exported from
    Brazil and Argentina went to China. However, this
    unable to meet China’s soybean needs,
    as a result of which the country was forced to import
    significant amounts of soybean.
 
  • The EU is increasing imports of canola.
 
  • In January / August 2019 imports of sunflower oil into
    the republics of south africa doubled to 160 thousand tonnes and
    that of sunflower meal up to 108 thousand tons.