Rising trends for raw material prices: coronavirus also has an impact on cereal market

The current health emergency connected to the spread of covid-19 has a remarkable impact on raw material prices, cereals first.

Chicago Board of Trade (CBOT) has registered a significant increase of cereal prices, reaching their maximum value over the last two months.

Contracts negotiated in that week and involving a delivery for May have registered a +5.92% increase on wheat price, +0.66% for maize, +2% for soy and 1.39% for oat. Soybean oil has registered a +4.65% increase and rice a +5.07 increase.

Prices have increased in Italy as well, above all for soy, soft wheat and durum wheat.

Coronavirus is therefore having an impact on the world agricultural market. Availability of agricultural products has become more and more strategic due to the difficulty of transports and to the closure of some borders. Analysts don’t dare making projections on future trends, since these will be strictly connected to the evolvement of the pandemic situation.

Cremona International Livestock Exhibitions will follow this topic with great attention, so to be able to provide the whole agrifood sector with updated and precise information while waiting for the next important appointment scheduled from October 28th to 31st, when Cremona will welcome a new edition of the only international Exhibition specialized on livestock in Italy and one of the most important at international level.