[EN] Agriculture prices declined by 1.0 percent in December (according to the IMF Commodity price Index). In line with this, Robusta coffee prices have fallen by 6.4 percent in December, because wet weather in Brazil has improved production prospects. Also sugar prices have decreased by 4 percent due to an ample supply among major producers and expectations that falling crude oil prices will reduce sugar demand for ethanol in Brazil. Moreover prices for pork have dropped by 7.9 percent, since US producers continue to rebuild (after losses from a previous porcine virus). 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 -21.9%, for rice (CBOT) by -15.9% and for cotton (A-Index) by -14.2%. The strongest price rises were noticed for cattle (feeder cattle (CME), cattle (U.S. c.i.f.) and live cattle (CME)) +40.2%/+37.3%/+33.6% and sugar (c.i.f. US) which has increased by +32.9% in one year.
During the last month, we have observed the highest price drops in the markets for pork (CME) -7.9%, for coffee (LIFFE) -6.4% and for cattle (U.S. c.i.f.) -5.9%. At the same time prices have risen most for wheat (soft red winter US f.o.b.) +11.5%, corn (CBOT) +10.4% and wheat (Euronext Paris) + 8.7%. The highest price movements are still registered in the pork (CME) market with a remarkable annualized volatility of 68.5%.
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 200.00 EUR/mt (242.82 USD/mt), wheat (Euronext Paris) has increased again with a return of +8.8% in the last month but has declined by -4.4% during the last 12 months. The annualized volatility has decreased slightly in December and is currently at 22.7%.
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 162.50 EUR/mt (197.29 USD/mt), the corn price (Euronext Paris) has gone up by +6.5% this month but has dropped by -5.5% during the last 12 months. The annualized volatility has decreased a little and is currently at 19.4%.
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 1.22 EUR/kg (1.51 USD/kg), the Cotton A-Index has increased with a return of +2.3% this month but has declined considerably by -14.2% 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 1.09 EUR/kg (1.33 USD/kg), these cotton futures have increased with a very low return of +0.4% this month but have decreased strongly by -21.9% during the last 12 months. The current annualized volatility has gone down and is currently at 25.6%.
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 308.46 EUR/mt (374.50 USD/mt), soybeans (CBOT) have increased slightly with a return of +2.2 % this month have fallen by -12.7% during the last 12 months. The annualized volatility has declined and is currently at 24.6%.
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 2,542.05 EUR/mt (3,086.30 USD/mt), cocoa (ICE Futures) has increased with a return of +5.1% this month and strongly by +20.1% during the last 12 months. In December the annualized volatility has decreased and is currently at 20.6%.
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 322.21 EUR/mt (391.20 USD/mt), sugar (LIFFE) has declined by -1.3% this month and by -1.1% during the last 12 months. The annualized volatility has decreased in the last month and is now at 18.6%.
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 1.47 EUR/kg (1.79 USD/kg), lean hogs futures (CME) have gone down with a return of -7.9% this month but have increased by +7.7% during the last 12 months. The price of lean hogs futures still shows a salient level of annualized volatility, which is now at 68.5%.