Grain Prices Slide Sharply as Sugar Retreats from Recent Highs, Sofia Commodity Exchange Experts Report

Grain prices fell sharply over the past week after the Kremlin agreed in principle to resume trilateral talks with Washington and Kyiv after November 10. Wheat futures on the Chicago Board of Trade dropped to three-month lows, according to an analysis by experts at the Sofia Commodity Exchange (SCE).
Wheat prices fell sharply on both major exchanges. On Thursday, December wheat futures on the Chicago Board of Trade slipped to around USD 230 per tonne, their lowest level in three months. On Euronext, prices fell on Wednesday from around EUR 244 per tonne to EUR 232.75 (approximately USD 261 per tonne), marking a one-day loss of EUR 8.75.
Funds reduced their net long positions on Euronext, ample global supplies weighed on the market, including a large Russian harvest and a 13% upward revision to Argentina’s wheat production forecast. However, the market remains vulnerable to a reversal. Odesa remains blockaded, Black Sea terminals have been brought almost to a standstill following drone attacks. SovEcon lowered its forecast for Ukrainian wheat exports to 14.4 million tonnes, the pace of winter crop sowing in Russia is the slowest since 2013.
Buyers are returning to the market as prices fall. Egypt made its first purchases in months, Jordan announced a tender for 120,000 tonnes.
Corn prices on the Chicago Board of Trade continued to decline under pressure from the harvest. December futures fell to around USD 181 per tonne, recording six consecutive sessions of losses through Tuesday. The US corn harvest is 44% complete, compared with a five-year average of 52%, although dry weather is helping to accelerate the pace. US corn exports since the start of the season are 34% below last year’s level.
On Euronext, the November corn contract held at relatively high levels of around EUR 291–295 per tonne (approximately USD 327–331). On Tuesday, corn was the only grain in Europe to post a gain. On Wednesday, prices slipped to EUR 291.25 per tonne amid record imports. Brazilian corn shipments to Europe reached 1.65 million tonnes in October, compared with around 200,000 tonnes a year earlier, EU corn imports are 40% higher than last year.
The price gap between European and US corn remains at around USD 145 per tonne.
Sugar prices retreated from recent highs as traders took profits and funds refrained from making fresh purchases. Raw sugar in New York, represented by the March contract, fell to around USD 444 per tonne on Wednesday, its lowest level in two weeks. In London, white sugar futures for December delivery dropped from around USD 561 to USD 533.90 per tonne. Trading was driven mainly by small-scale speculators, the decline also triggered buy orders from processors.
Trading on the Sofia Commodity Exchange
In the Grain category of the Sofia Commodity Exchange, following deals earlier in the month for bread-making wheat at EUR 198 per tonne, the only remaining quotation was a bid for feed wheat at EUR 192 per tonne.
In the Food commodities category, a wide range of canned goods continued to be offered, following transactions a week earlier involving pâté, stuffed peppers, bean stew and other products.
Strawberry jam was being offered at EUR 3.25 per kg, while rosehip marmalade was priced at EUR 3.71 per kg.
In the Industrial commodities category of the Sofia Commodity Exchange, transactions this week included propane-butane gas at EUR 510–530 per 1,000 litres, heating fuel at EUR 1,509.66–1,622.68 per 1,000 litres, and gas oil for industrial and municipal use at EUR 1,519.25–1,594.14 per 1,000 litres.
Fuel transactions also included A95H unleaded petrol at EUR 1,341.67–1,410 per 1,000 litres, A100 petrol at EUR 1,550 per 1,000 litres, B6 diesel at EUR 1,541.67–1,600 per 1,000 litres, and E5 diesel at EUR 1,522.61 per 1,000 litres.
Wood pellets traded at EUR 415–465 per tonne. In the metals segment, ferrous scrap was purchased at EUR 108.80 per tonne, while lead scrap traded at EUR 646 per tonne.

Grain Prices Slide Sharply as Sugar Retreats from Recent Highs, Sofia Commodity Exchange Experts Report THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-10-24 08:37:37

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BULGARIA NEWS – NEWS AGENCY 2009–2026 2026-10-24 08:37:37