Futures market closes at lowest point of the week

Sales on the futures market continue to come mainly from (speculative) buying positions. In two weeks, the open position on the futures market has fallen by more than 800 contracts, which indicates that the positions are being reduced.

The Belgapom also showed today that demand is clearly less in the processing industries. With a decrease of €3,00, which brought it to €21.00. Processing industries remain out of the market. The coverage is apparently sufficient at this stage of the market and additional offerings are only picked up to a moderate extent. The fact that it is a strange week because of carnival and holidays does not help the market's confidence.

It will become clear in the coming weeks whether this means that the market decline is behind us. Spring will be decisive in this, but also the increasing demand at lower price levels. Export demand seems to be picking up around €18,00 to €20,00, especially towards Southern Europe, but a number of Eastern Bloc countries are also inquiring about pricing.

It has already been mentioned here a number of times, but the comparison with the 2012 season is striking. Then too, the market fell back to €19,50 in the period February/March, but then rose sharply again due to a later spring and increasing demand from England.