Magro.hu: cereals have become speculative products

Because of the previous high prices, the cereals – especially maize – have become speculative products – according to the Magro.hu online agricultural marketplace.

Nearly 70 percent of the world's grain harvest will be wheat and corn this year. In Hungary, the market is even more concentrated, the figure is 83 percent – the Magro.hu told on Monday.

A local peak occured in prices in the autumn of 2012, but since then the cereals have become cheaper on the world's stock exchanges by about 40 percent. In Hungary, the decline was less: 30 percent. (MTI)