The agricultural futures markets are closed on New Year's Eve. This means that the closing quotation of Friday 28 December is the last of this year.
It is not the highest final quotation of this season, because it was achieved in week 31 (€32). The striking movement on the last trading day of the year can more or less be attributed to the significant increase in the Belgapom quotation for week 52.
Bintje is making giant steps
Giant steps of €10 per 100 kilos are being made, especially for the Bintje variety. The current quote is now €25, with the vote 'fixed'. With the quotations known so far, the cash settlement could make a significant step in week 1 of 2019, which is also the reason why the futures market is showing an upward trend.
The expectation that the bottom end of the market, and in particular the Bintje variety, could make progress, has come true. The quotations for the middle segment (if you can call it that) for varieties such as Fontane and Challenger are on average between €27 and €30 per 100 kilos.
It's going to be exciting
The upper segment (such as Innovator with the desired quality) will now be more emphatically around the €30 level. The key question is how the new year will be entered. The upward trend is expected to continue, given the limited volume available. Every stakeholder understands that it will be exciting.
The question is which price level will (and can) actually be achieved. Spring (late or early) will also play a determining role. In any case, one thing is certain, because by mid-July we will know which path the hares have walked.