[EN] According to the IMF Commodity Price Index for agriculture, agricultural prices rose by 0.4% in November, which is the first increase for seven months.
In accordance, corn prices jumped 10.7% due to an increasing demand for feed, corn and ethanol exports. Wheat prices went up by 6.2% because of cold weather in the U.S. and dry weather in Australia. Also prices for soybeans increased by 6.9% caused by bad crop prospects in South America. However prices for dairy continued the downtrend and also cocoa prices fell due to abundant supply. 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 soybeans (CBOT) has fallen by -17.9%, for rice (CBOT) by -16.4% and for corn (Euronext Paris) by -15.1%. The strongest price rises were noticed for cattle (U.S. c.i.f. and CME) +43.4%/+42.0%, coffee (LIFFE) +33.3% and sugar (c.i.f. US) which has increased by +23.1% in one year.
During the last month, we have observed the highest price drops in the markets for sugar (c.i.f. US) -6.3%, for skimmed milk powder (f.o.b. Europe) -5.9% and for cocoa (ICCO) -5.0%. At the same time prices have risen most for corn (US f.o.b.) +10.7%, wheat (soft red winter US f.o.b.) +8.6% and for soybeans (C.i.f. Rotterdam) + 6.9%. The highest price movements are still registered in the pork (CME) market with a remarkable annualized volatility of 66.9%.
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 183.25 EUR/mt (228.75 USD/mt), wheat (Euronext Paris) has increased with a return of +6.2% in the last month but has declined by -13.6% during the last 12 months. The annualized volatility has further increased in November and is currently at 23.3%.
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 152.25 EUR/mt (190.05 USD/mt), the corn price (Euronext Paris) has gone up by +5.7% this month but has dropped by -15.1% during the last 12 months. The annualized volatility has increased slightly and is currently at 21.4%.
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 1.19 EUR/kg (1.49 USD/kg), the Cotton A-Index has decreased slightly with a return of -2.5% this month and considerably by -14.7% during the last 12 months. The current annualized volatility is now at 14.9%.
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 (1.36 USD/kg), these cotton futures have decreased with a return of -4.0% this month and -13.5% during the last 12 months. The current annualized volatility has gone up and is currently 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 301.85 EUR/mt (376.80 USD/mt), soybeans (CBOT) have decreased slightly with a return of -1.7 % this month but noticeably by -17.9% during the last 12 months. The annualized volatility has fallen and is currently at 29.0%.
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 2,416.70 EUR/mt (3,016.76 USD/mt), cocoa (ICE Futures) has decreased a little with a return of -0.9% this month but has increased strongly by +15.0% during the last 12 months. In November the annualized volatility has increased as well and is currently at 22.5%.
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 326.44 EUR/mt (407.50 USD/mt), sugar (LIFFE) has declined by -3.5% this month and by -3.3% during the last 12 months. The annualized volatility has increased in the last month and is now at 22.4%.
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 1.60 EUR/kg (1.99 USD/kg), lean hogs futures (CME) have gone up with a return of +2.9% this month and +13.9% during the last 12 months. The price of lean hogs futures still shows a salient level of annualized volatility, which is now at 66.9%.