Thursday, May 31 was the last trading day for the 2017 futures harvest. What did prices do?
The reduction in the final Cash Settlement was prompted by the reduction that Germany implemented on physical trade. The Netherlands was actually only out of step with the PotatoNL listing (Tuesday, May 29), but that had no impact on the Cash Settlement. With a class 2 quotation of €12,50 at the top, this gave a distorted picture of the market, compared to what was happening in the rest of the European potato market.
Supply remains large
Due to the rising temperatures the offer large, with Bintje still carrying the red lantern. In Belgium, Bintjes can currently be loaded for free, because the supply is much greater than the demand. Many traders also express concern about whether all the potatoes will be available this year.
This also brings up concerns for the new season. If it turns out that there are more than enough old potatoes available (until week 30), the start of the new season will be 1 month later. This could lead to accumulation of the new harvest, but could also mean that the market will have to deal with an 11-month season.
However, that is not the case yet. If the old harvest is not removed in time, the new harvest will undoubtedly be affected.
The June contract on the potato futures market over the past few weeks.