Bulgaria. Shrunk supply and revived demand supported corn domestic prices

27.04.2017

Mixed price trends were observed in Bulgaria’s domestic market last week. Purchase prices for most of the staple cereals restored to some extent following their decline of the past several weeks. However, milling wheat prices continued their setback. The market of old-crop milling wheat remained flat.

Despite already rather low availabilities in the country, its price kept falling. Export shipments of Bulgarian wheat somewhat slowed due to declining demand from importers in view of competition from expanding Russian wheat exports at the time. Demand from traders and millers slackened in the domestic market, reports UkrAgroConsult.

The corn market situation is similar to last year’s developments. Domestic corn prices in Bulgaria have reached the wheat price level. The bullish factors included both shrunk supply and revived domestic demand. Also, some rise is reported in purchases of Bulgarian corn by EU countries, but it gave no support to export prices. The corn market is pressured by downward trends on the Chicago exchange and consequently in the Black Sea region.

More information on price behavior on grain market in the countries of Black Sea region is available to subscribers for weekly market report "Black Sea Grain and Oil" and "Online market review" by UkrAgroConsult.

 

UkrAgroConsult

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