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October 2024 Commodity Market: Stable Grains, Rising Oil Prices

October 2024 Commodity Market: Stable Grains, Rising Oil Prices

Wheat: Stable Prices on EURONEXT and London Exchange

Wheat prices on EURONEXT are currently at EUR 224.25 per tonne for December 2024. The price per kilogram is approximately 0.23 EUR/kg. Global supply concerns and weather conditions continue to influence the market.

Rapeseed: Firm Prices on EURONEXT Amid Supply Shortages

The rapeseed market recently saw a slight correction, with prices at 513 EUR/t for February futures. The price per kilogram is 0.51 EUR/kg. Demand for vegetable oils remains high.

Corn: Stable Prices Despite High Stocks

Corn prices are currently at 211.75 EUR per tonne on EURONEXT, which translates to 0.18 EUR/kg. The US harvest has exceeded the 5-year average, keeping the market stable.

Soybeans: Prices Rise on Strong Demand

Soybean prices stand at 0.35 EUR/kg, driven by high exports and uncertainty over Brazil's reduced crop forecasts.

Sugar: Stable Prices Despite Weather Influences

Sugar prices remain stable, with exports continuing from major producers like Brazil. The current price is approximately 0.46 EUR/kg.

Sunflower Seeds: Russian Measures Affect Prices

Russia's increase in export duties for sunflower meal and zero duties for sunflower oil are stabilizing the market. Sunflower seeds are priced at 0.41 EUR/kg.

Crude Oil: Volatile Prices Amid Geopolitical Tensions

Crude oil has seen price increases due to geopolitical uncertainties, with the current price at 0.72 EUR/Liter.

Soybean Oil: Strong Demand Drives Prices Up

Soybean oil is currently priced at 0.99 EUR/Liter, supported by strong demand from the USA and Brazil.

Sunflower Oil: Prices Rise Due to Lower Harvests

Sunflower oil is currently priced at 1.22 EUR/Liter, with prices driven up by lower harvests in key growing regions like the Black Sea.

Rapeseed Oil: Stable Prices Despite Tightening Supply

Rapeseed oil remains stable at 1.06 EUR/Liter, despite slight global tightening and strong demand for edible oils.

Conclusion: In October 2024, commodity markets show stable to slightly rising prices, particularly for vegetable oils and crude oil, while wheat and corn remain relatively stable. Future developments depend heavily on weather conditions and global demand.





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