Inside: Grains & Raw Material
Week 5: finally movement in the grain market
The grain market is currently in flux (especially in the United States) and this is reflected in the CBoT in Chicago. On Tuesday, January 30, the price rose to its highest level in 14 days. What brought life to the brewery?
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Choose the subscription that suits youIn the past 14 days, the lowest price was $153 per tonne (sales 96,68 million tonnes). The wheat price on the European stock exchange (Matif in Paris) remained more stable and recorded a high of €160 per ton, compared to a low of €154 per ton (turnover 4,62 million tons).
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The wheat price (CBoT) has risen sharply in recent days.
The increase on the CBoT was partly caused by the de currency differences between the euro and dollar. The expensive euro is detrimental to Europe's export position. The lack of rain in the important grain areas in the United States and the lower valuation of the American winter wheat crop also stimulated the market.
Dominant position of Russia
Despite the fact that Russian wheat exports were hampered by frost and snow, the export volume from Russia is still high (22,6 million tons). That is 1/3 more than in the same period last year. On the other hand, export expectations from India have been adjusted downwards.
The global wheat harvest has increased to 757,4 million tons, according to figures from the International Grains Council (IGC). Consumption is estimated at 743,6 million tons. The grain stock thus rises to a record high of 254,4 million tons.