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High prices of wheat and corn

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BUDAPEST – The current price level of wheat is 45%, and the feed corn price is 75% higher than the last year’s prices in Hungary. Although many analyses appeared as the main reason for the price increase is the lower new crops in the USA and Russia and expected modest new crop in Argentina.

But it is maybe closer to the truth that the general inflation pressure has leaked into the soft commodity market as well. If this last thing is valid, then the grains’ price levels are not a peak out, but a new usual average level and everybody can prepare for a long term new era. The question is whether this development affecting only the staple foods or other commodities will be similarly affected by the inflation of snacks, dried fruits and other delicacies.

Current prices:

Milling wheat: 231 EUR/mt FCA Hungary
Feed wheat: 225 EUR/mt FCA Hungary
Feed corn: 228 EUR/mt FCA Hungary