Corn Prices Are Skyrocketing While Exporters Seem to Have Vanished!
Welcome to the wild world of the commodity exchange where corn, barley, and soy are causing chaos on the price charts, and wheat is falling like it lost the popularity contest. In the last week, corn took a whopping 53% of total trade volume, with its price jumping nearly 7% compared to the previous week, reaching about 24.36 dinars per kilogram without VAT. Yes, you read that right – corn is the king of the exchange, with domestic traders and processors scrambling for every kilo, while exporters seem to have forgotten the market even exists.
Wheat Is Falling, But No One’s Making a Fuss
While corn prices soar, wheat prices dropped by 5%. The market focus is on the new crop, but supply and demand failed to align, leading to no trading of the old wheat crop. Wheat with 11.5% protein content fell to around 20.90 dinars per kilogram without VAT. Looks like wheat is out of fashion, at least for now.
Soy and Barley Stir Up Market Chaos
Soybean prices showed a real jump – rising nearly 10%, with a weighted average price of 53.92 dinars per kilogram without VAT. Supply is weak, demand is growing, and that’s a recipe for price hikes. The same goes for feed barley, whose price jumped almost 8%, with contract prices ranging from 19.50 to 20.30 dinars per kilogram without VAT.
Rapeseed – The Exchange Enigma
Trading rapeseed is a real mystery. The price gap between supply and demand is so wide that only one exchange contract was signed, at a price of 52.03 dinars per kilogram without VAT. Is this a sign that rapeseed is fading away or just waiting for its moment?
What’s Going On and Who’s to Blame?
The absence of exporters in the corn market casts a shadow over the entire sector. Are export conditions bad, or is there something else? Production costs are rising, and price pressure is huge. Meanwhile, domestic traders and processors are buying like there’s no tomorrow.
The Bottom Line?
The commodity exchange is currently an arena where corn leads the game, soy and barley cause chaos, and wheat and rapeseed struggle for survival. Corn prices jumped nearly 7%, soy nearly 10%, and barley almost 8%. Wheat fell by 5%, and rapeseed remains uncertain.
If you thought agriculture was boring, think again! This exchange is a real drama with prices jumping and falling like a rollercoaster. So, what do you think – will exporters jump back into this chaos soon, or will they leave the locals to fight it out alone? Drop a comment and let’s see who’s on whose side in this exchange soap opera!
