The price of wheat and corn fell on the Product Exchange, which is not the case with soybeans. During the past week, the greatest attention on the market was focused on the beginning of the purchase of mercantile wheat of the 2024 harvest by the Republic Directorate for Commodity Reserves. Registration started on July 11, 2024 via the website of the Product Exchange, and already during the first two days there was a noticeable interest from agricultural farms.
Compared to seven days earlier, the market was calmer, and the turnover was lower by 17.91%. 3,534.00 tons of goods were traded, with a total financial value of RSD 84,500,680.00. The negative trend in prices continued this week, except when it comes to soybeans, where growth is recorded. The primary crop in trade was once again wheat.
Corn price lower, demand higher than supply
On the corn market, demand was greater than supply. Unlike the previous week, when activity on the corn market was extremely weak, 810 tons more goods were traded this week.
Corn was traded in the price range from 17.50 to 18.00 din/kg without VAT, depending on the aflatoxin analysis. The weighted price was 17.81 din/kg without VAT (19.59 din/kg with VAT), so there was a noticeable drop in price compared to the previous week of 1.45%.
In the total volume of turnover this week, corn participated with a 31% share. During the week, there was also trading at the CPT port parity at a single price level of 18.50 din/kg without VAT.
The price of wheat is falling
In the structure of traffic, the dominant place was occupied by wheat with a total traffic volume of 2,125.00 tons, which accounted for 60% of the weekly traffic. Throughout the week, demand for wheat was weak and at a lower price level than supply.
Market participants were partly restrained due to the anticipation of the purchase of wheat by the Republic Directorate for Commodity Reserves. Exchange contracts were concluded in the price range from 20.10 to 22.00 din/kg without VAT, depending on quality and parity parameters.
The weighted price was 20.74 din/kg without VAT (22.82 din/kg with VAT), and a price drop of 0.74% was noticeable. One exchange contract was also concluded at the CPT buyer parity at a price of 21.00 dinars/kg without VAT.
The price of soybeans recorded a noticeable increase
The soybean market did not record much activity this week either. At the beginning of the week, one exchange contract was concluded at a price of 61.50 din/kg without VAT with quality calculation, while on the last day of the week soybeans were traded at a price of 63.00 din/kg without VAT with quality calculation. and the price increase was noticeable.
The weighted price was 62.25 din/kg without VAT (68.48 din/kg with VAT), so the price was higher than last week by 0.57%.
The rest
Market activity rapeseed oil it was somewhat weaker compared to the previous period, and the price spread between supply and demand was noticeable, which resulted in the absence of stock market contracts.
Use of rapeseed as bee pasture and animal feed
Offer sunflower seeds with 33% protein throughout the week, it was higher than demand, and one exchange contract was concluded at a price of 28.50 din/kg without VAT.
When it comes to fodder barley, almost complete passivity was noticeable in the market this week. During the week, there were smaller quantities of fodder barley on offer, while the demand was weak and at a lower price level, so this week, as well as the previous one, no sales contracts were concluded.
When it comes to mineral fertilizers one exchange contract was concluded for UREU, bycatch, Russian, in 25/1 packaging at a price of 44.61 din/kg without VAT (€380/t without VAT).
Of the other goods, the offer also included rye at a price of 23.00 din/kg without VAT, but there was no demand.
Source: Produktna berza ad Novi Sad
Source: www.agromedia.rs
