The price of maize is pushed up to 18 cents

The price of maize is pushed up to 18 cents

For some time now, domestic trade in corn has been out of step with the market, with threshing being very close to its end in most parts of the country and prices being well below even the once more competitive level of Bulgarian corn.

The lack of demand is the main factor cited by market players, which is probably justified by the wider shift ‘off-target’ in the logistical planning of farms. In other words, the current situation is probably a signal of a revival of interest from livestock units, since if production is concentrated in the hands of traders, then the current low of 18-19 cents is likely to mark the low end of the price range for this season.

In particular, free trade is pushing producers towards 18 cents a kilo, while direct transactions between farmers and livestock farmers are being heard as low as 19 cents a kilo, when about a month ago the market was hovering in the region of 22 to 23 cents.

Prices for imported corn remain at these levels, according to the report, although import flows are somewhat limited, with producers in Bulgaria, Romania and Hungary having aligned themselves with the 220 euro per tonne field/warehouse price. At these price levels, importers’ interest has been limited, as “the fruit is not profitable”, with many now turning to imports of phytophanes.

However, the prices of the other Balkan countries are also in line with the prices on the Paris stock exchange, which, despite being under pressure from the harvest, are maintaining the level of EUR 200 per tonne for November contracts expiring in a few days. If loading and transport costs are added to these prices, the natural market is slightly above this.

At international level, corn prices are falling in Chicago, both because of the pressure of the harvest and, above all, because of the limited interest from China, a situation which is evident in almost all agricultural commodities of export interest to the United States, which are not helped by the exchange rate strengthening of the dollar.