Purchase prices for grains on Bulgaria’s domestic market somewhat sank last week. They were pressured primarily by volatility of the national currency against the U.S. dollar.
Overall, the pace of grain market purchases is estimated as stable. Purchase prices for wheat are being pressured by its sufficient supply on the domestic market despite quick sales. At the same time, export market remains stable.
Supported by a steady demand from the European Union, export prices for Bulgarian 11.5% protein wheat stay at $176-179 FOB for December-January delivery. Additionally, Bulgarian grain is in increasing demand from beyond the EU.
Domestic corn prices have stabilized. Demand remains stable as well. On the export market prices have grown slightly. Despite another drop in the Bulgarian corn harvest, this season’s pace of exports is 62% faster than a year ago. The key driver is strengthening demand from European Union countries. (UkrAgroConsult/Business World Magazine)
