[EN] The main agricultural indices are declining: especially soybeans and wheat report remarkable price drops due to a expected record world production. Also corn prices fell noticeably because of over-average yields in the US – the world’s largest producer. Russia’s food embargo shows effects particularly on seafood, which has gone down by 8% and on dairy that even shows a drop of 17.5%. On the other side prices in meat markets haven risen even further, especially in the markets for cattle and feeder cattle. This is due to a persistent tightness in cattle supply in the US. 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 wheat (CBOT) has fallen by -28.0%, for soybeans (CBOT) by -26.8% and for cotton (ICE Futures US) by -25.8%. The strongest price rises were noticed for cattle (U.S. c.i.f. and CME) +47.1%/+43.2%, coffee (LIFFE) +30.2% and Cocoa (ICE Futures London) which has increased by +28.6% in one year.
During the last month, we have observed the highest price drops in the markets for skimmed and whole milk powder (f.o.b. Europe) -18.1/ -16.8%, for wheat (Euronext Paris) -13.2% and for soybeans (CBOT) -13.0%. At the same time prices have risen most for pork (CME) +14.3%, feeder cattle (CME) +12.2% and for sugar (NYBOT) + 10.9%. The highest price movements are still registered in the pork (CME) market with a remarkably annualized volatility of 71.3%.
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 152.75 EUR/mt (192.21 USD/mt), wheat (Euronext Paris) has decreased remarkably with a return of -13.2% in a single month and -23.5% during the last 12 months. The annualized volatility has increased in September and is currently at 18.1%.
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 138.00 EUR/mt (173.65 USD/mt), the corn price (Euronext Paris) has fallen by -9.5% this month and by -19.7% during the last 12 months. The annualized volatility has increased again and is currently at 20.2%.
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 1.25 EUR/kg (1.62 USD/kg), the Cotton A-Index has increased slightly with a return of +2.3% this month but has declined considerably by -17.1% during the last 12 months. The cotton A-Index has become more volatile during the last month, the current annualized volatility is at 15.2%.
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 (1.37 USD/kg), these cotton futures have decreased with a return of -4.0% this month and strongly by -25.8% during the last 12 months. The current annualized volatility is now at 28.6%.
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 266.67 EUR/mt (335.56 USD/mt), soybeans (CBOT) have decreased considerably with a return of -13.0% this month and even by -26.8% during the last 12 months. The annualized volatility has increased even further and is currently at the very high level of 41.8%.
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 2,717.10 EUR/mt (3,418.92 USD/mt), cocoa (ICE Futures) has increased with a return of +5.1% this month and remarkably by +28.6% during the last 12 months. In September the annualized volatility has increased as well and is currently at 16.2%.
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 335.06 EUR/mt (421.60 USD/mt), sugar (LIFFE) has increased by +4.2% this month but has declined by -7.2% during the last 12 months. The annualized volatility has increased in the last month and is now at 19.0%.
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 1.89 EUR/kg (2.38 USD/kg), lean hogs futures (CME) have increased noticeably with a return of +14.3% this month and by +23.1% during the last 12 months. Still the price shows a salient level of annualized volatility, which is now at 71.4%.