BUDAPEST – Having got approaching (not final) data of wheat harvest from the individual counties in Hungary, a new picture is evolving, which is not so bad as predicted previously based on first harvest information. It is most possible that in 2021 the harvested wheat quantity will modestly overtake the 2020 season final quantity.
As in the US and European markets, the wheat price has increased slightly on the Hungarian domestic market in the last week. The main reason is that the farmers have started to keep back the stocks to generate higher prices. But the export – mainly mills determined – markets accept the higher prices reluctantly. Now the A grade, durum or higher protein content wheat are looked for, although the purchase desire from the Italian and other traders is a bit restrained.
Currently, the wheat pushes the other grains into the background and does occupy the minds of the market players.
Milling wheat price 205 EUR/mt FCA Hungary