Polish grain buying prices: corn falls, wheat edges up
At grain purchasing points in Poland, corn prices have dropped while wheat has risen slightly, in places above 900 zlotys per tonne. The market is watching the USDA's November report, the euro exchange rate and uncertainty around the Black Sea.
Corn has become cheaper at grain purchasing points in Poland, while wheat prices have edged up and in many places exceed 900 zlotys per tonne. The figures come from the Polish farming portal Farmer.pl, based on a telephone survey carried out on 12 November. They show how global supply forecasts and geopolitical uncertainty are feeding through to farmers and grain traders in the region.
The corn harvest is continuing. It no longer depends as heavily on propane availability as before, but harvest logistics and lower prices remain a problem, and selling the grain is still difficult. Prices fell for both wet and dry corn, while most of the surveyed points recorded a slight rise for wheat.
US forecasts
The US Department of Agriculture (USDA) sent mixed signals in its November WASDE report. Its forecast for global wheat production was raised by 5.12 million tonnes to 827.51 million tonnes, mainly because of Argentina, Australia and Ukraine. Projected ending stocks of wheat rose by 4.78 million tonnes to 280.82 million tonnes, which limits the scope for price increases.
The global corn production forecast was cut by 2.20 million tonnes to 1,291.55 million tonnes, with the largest adjustment concerning the United States. The US corn yield is forecast at 179.6 bushels per acre. The global soybean production forecast was lowered by 0.20 million tonnes to 442.50 million tonnes.
Other price factors
Grain and rapeseed quotations on Matif, the European exchange, rose. The euro fell against the US dollar to 1.10929, making EU grain more competitive on world markets. The Black Sea region also weighs on the market: talks between the US, Ukraine and Russia in Abu Dhabi produced no breakthrough, so concerns about the safety of grain shipments remain.
Prices at purchasing points
Milling wheat costs between 880 and 960 zlotys per tonne (net) at different points, wet corn 500–600 zlotys, dry corn 850–910 zlotys and rapeseed 2,300–2,400 zlotys per tonne.
