[EN] Agriculture prices declined by 2.2 % in January (according to the IMF Commodity price Index). In particular the price for pork declined by 11.4% – down more than 40% from highs in last summer. The decline is due to the fact that US producers still have to rebuild herds from losses to a previous porcine virus. Moreover wheat prices report a significant fall, because of high stocks and expectations to a record world wheat production. This article shows you the latest price developments and relevant key figures for agricultural commodities.
With a view to the past 12 months, we have observed strong price decreases as well as increases for agricultural raw materials. Considering the largest declines, the price for cotton (ICE Futures US) has fallen by -19.0%, for rice (CBOT) by -18.7% and for cotton (A-Index) by -14.3%. The strongest price rises were noticed in the markets for cattle (feeder cattle (CME), cattle (U.S. c.i.f.) and live cattle (CME)) +39.1%/+36.7%/+26.8% and sugar (c.i.f. US) which has increased by +37.7% in one year.
During the last month, we have observed the highest price drops in the markets for pork (CME) -11.4% and wheat (CBOT, Euronext Paris) -10.1%/-7.9%. At the same time prices have risen most for coffee (LIFFE) +8.9% and sugar (US c.i.f., NYBOT) +8.1%/+8.0%. The highest price movements are still registered in the pork (CME) market with an annualized volatility of 28.9%.
In order to provide market visibility for European companies affected by raw material costs, the following analysis takes into consideration the price evolution in EUR unless specified. Please click on the raw materials below to receive more detailed information.
1. WHEAT (EURONEXT PARIS) Read more
These wheat futures are traded in EUR per ton at Euronext in Paris (operated from NYSE Euronext). It is the most important quotation of wheat in the European market.
With a month closing price of 184.75 EUR/mt (208.86 USD/mt), wheat (Euronext Paris) has decreased again with a return of -7.9% in the last month and by -4.0% during the last 12 months. The annualized volatility has increased slightly in January and is currently at 23.2%.
2. CORN (EURONEXT PARIS) Read more
These corn futures are traded in EUR per ton at Euronext in Paris (operated from NYSE Euronext). It is the most important quotation of corn in the European market.
With a month closing price of 152.50 EUR/mt (172.40 USD/mt), the corn price (Euronext Paris) has gone down by -6.4% this month and by -12.6% during the last 12 months. The annualized volatility has increased a little and is currently at 23.0%.
3. COTTON Read more
3.1 COTTON A-INDEX
The cotton A-Index is the leading barometer of international cotton price movements. It is an average of the five cheapest quotations from a selection of the main upland cottons traded internationally. The A-Index is published by Cotlook Limited, a private UK cotton consultancy, in the “Cotton Outlook” since 1966.
With a month closing price of 1.28 EUR/kg (1.48 USD/kg), the Cotton A-Index has increased with a return of +4.5% this month (mainly due to the weak Euro) but has declined considerably by -14.3% during the last 12 months. The current annualized volatility is now at 15.0%.
3.2 COTTON ICE FUTURES US
These cotton futures are traded in US-cents per pound at the ICE Futures US (former NYBOT) in New York.
With a month closing price of 1.16 EUR/kg (1.31 USD/kg), these cotton futures have increased with a return of +6.0% this month but have decreased strongly by -19.0% during the last 12 months. The current annualized volatility has gone down and is currently at 24.9%.
4. SOYBEANS (CBOT) Read more
These soybeans futures are traded in US-cents per bushel at the Chicago Board of Trade (CBOT).
With a month closing price of 311.37 EUR/mt (352.00 USD/mt), soybeans (CBOT) have increased slightly with a return of +0.9% this month but have fallen by -10.9% during the last 12 months. The annualized volatility has increased and is currently at 25.5%.
5. COCOA (ICE FUTURES) Read more
These cocoa futures are traded in GBP per ton at Intercontinental Exchange Futures (ICE Futures) in London. It is the most important cocoa quotation in the European market.
With a month closing price of 2,534.95 EUR/mt (2,865.76 USD/mt), cocoa (ICE Futures) has decreased slightly with a return of -0.3% this month but has increased strongly by +12.1% during the last 12 months. In January the annualized volatility has decreased and is currently at 17.2%.
6. SUGAR (LIFFE) Read more
These sugar futures are traded in USD per ton at the London International Financial Futures and Options Exchange (LIFFE) in London (operated from NYSE Euronext). It is the most important sugar quotation in the European market.
With a month closing price of 337.99 EUR/mt (382.10 USD/mt), sugar (LIFFE) has risen by +4.8% this month and by +7.6% during the last 12 months. The annualized volatility has increased in the last month and is now at 20.7%.
7. Pork (CME lean hogs futures) Read more
These lean hogs futures are traded in US-cents per pound at the Chicago Mercantile Exchange.
With a month closing price of 1.32 EUR/kg (1.49 USD/kg), lean hogs futures (CME) have gone down with a return of -11.4% this month and by -6.7% during the last 12 months. The price of lean hogs futures still shows a high level of annualized volatility, which is now at 28.9%.