Inside Potatoes
Potato futures market a real roller coaster
The fact that the potato market is nervous was confirmed once again on Thursday 27 June by the daily fluctuation. In the morning, the potato futures market opened at €..., with clearly more supply than demand.
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Choose the subscription that suits youThe basic data of the potato market are no different than in previous days. Yet buyers above €18 remain very cautious. 'First see, then believe' seems to be the credo. Weather forecasts determine prices. This makes the next week week can become the executioner.
If the weather turns into changeable weather, the drop is likely to be significant. The potato futures market got a taste of this on Thursday. After a hesitant start, the offer came loose and buyers refused. The futures market fell to €15,30 in no time. Only at that level did demand arise again, partly due to the fact that this price is close to the contract level. Turnover was strong for the third day in a row (493 contracts).
Certainty about the weather
Buyers first want certainty about whether or not a dry period will continue. The temperature also determines the growth of the crops. There is literally a fresh wind blowing in the Netherlands these days, but the temperature will rise again during the weekend. After the weekend it seems cooler weather to gain the upper hand.
In other parts of Europe the situation is slightly different. France, Germany and Poland are suffering from extremely high temperatures. Next week it will become clear which direction the potato price will take, based on the weather and growing conditions.
