Last week, grain prices on world stock exchanges were dictated by buyers. The price of wheat on Matif increased by 6.3 percent for a week.
Corn prices are on an upward trend
The last week of grain futures trading brought a significant improvement in the situation on global wheat markets and a continuation of the increase in the price of European corn. Corn prices have been rising for about a month now (since the multi-year lows were set). During this time, maize on Matif gained 14.8%. and is the most expensive since January 10 this year, while the price of corn on CBOT increased by 9.9%. In the case of corn, we can already talk (from the point of view of technical analysis of charts) of a reversal of the upward trend – short-term for now.
Wheat prices on Matif increased by 12.9%. in 2 weeks
Wheat price increases started later, but the last week of quotations gives hope for a reversal of the upward trend also in this case. Since several years of lows marked about two weeks ago, wheat prices on the Paris stock exchange have already increased by 12.9%. and is the most expensive in a month, while on CBOT by 6.5%.
Wheat in the May delivery contract rose by 3.8% on Friday on Matif. and cost EUR 207.50/t (PLN 895/t), and y/y the prices dropped by 19.7%. Over the last week, the price of wheat has increased by 6.3%.
The price of corn on the Paris Stock Exchange in the June contract increased by 2.2 percent on Friday. and amounted to EUR 193.50/t (PLN 836/t), and over the last year it decreased by 24.0%. During the week, the prices increased by 6.5%.
Wheat on CBoT in the May contract increased by 1.5% on Friday. and cost USD 203.83/t. On a y/y basis, quotations decreased by 16.2%. Over the last week, the price has increased by 5.0%. The price of corn in the contract for delivery in May on the Chicago Stock Exchange fell by 0.3%. and amounted to USD 172.93/t, and over the last year it decreased by 30.5%. Over the last week, prices increased by 0.6%.
Matif wheat, May contract – the price increased by 3.75% on Friday. (EUR 207.25/t – PLN 895/t).
Chart 1.
Quotations of May wheat futures contracts expressed in PLN are presented in the chart below:
Chart 2
In the continuation chart below of wheat contracts listed on the Paris Stock Exchange, the long-term downtrend dominates, the medium-term trend is downward, and the short-term trend is downward.
Chart 3
CBOT wheat, May contract – the price increased by 1.46% on Friday. ($203.83/t- PLN 814/t).
Chart 4
The Chicago stock exchange is currently dominated by a long-term downward trend, a medium-term downward trend, and a short-term downward trend.
Chart 5
Matif corn, June contract – the price increased by 2.25% on Friday. (EUR 193.50/t – PLN 836/t).
Chart 6
Quotations of June corn futures contracts expressed in PLN are presented in the chart below:
Chart 7
In the continuation chart below of corn contracts listed on the Paris Stock Exchange, the long-term downtrend dominates, the medium-term trend is downward and the short-term trend is up.
Chart 8
CBOT corn, May contract – the price fell by 0.34% on Friday. ($172.93/t-PLN 690/t).
Chart 9
The continuation chart of corn contracts listed on CBOT is dominated by a long-term downward trend, a medium-term downward trend, and a short-term upward trend.
Chart 10
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