The passive market and the downward trend of corn, the rise in the price of wheat and the stagnation of soybeans, characterize the current events on the market scene of primary agricultural products in the past week on the commodity market. The turnover of only 505 tons is one of the extremely low weekly turnovers recorded on the Product Exchange. The financial value was 38,905,900.00 dinars.
Unlike the previous period, where corn was the dominant stock exchange culture in trading, during the past week, no sales contract was realized. Corn markets have fallen sharply following Chicago. Improved weather created pressure on prices, as rain was recorded in the US corn belt for several days.
Current events on the domestic market in step with world trends
What characterized the price in the domestic market, yes, a constant change from day to day, which basically followed the trends of world movements. The fall in the price of this grain was the cause of reduced activity of exporters and traders. On the first day of the week, the offer ranged at the price level of 26.00 dinars / kg and more without VAT. What gives the right to the initial statement is the circumstance that the offers at the very end of the week were much lower (about 25.00 dinars / kg without VAT), but even such offers did not have an appropriate response on the demand side. The corn market is still on a downward trend, and that is the main reason withdrawal of customers from the market.
Soy and in the period of complete market passivity it finds its place on the stock market. Considering that during this economic year we had an extreme year from the aspect of price events in the form of pronounced price jumps or falls, we can state that this oil plant has maintained a stable level for the third week in a row. Stock exchange contracts at FCA parity are concluded at a single price of 75.00 din / kg without VAT, or 75.80 din / kg without VAT at CPT parity. The weighted price was 75.00 dinars / kg without VAT (82.50 dinars / kg with VAT).
Information on wheat, barley, oilseed rape and canola
Wheat notes an upward trend. The harvest of the genus in 2021 is expected to begin in two weeks, and few expected such a price jump of last year’s crop. The weak supply was the reason for the more intense one demand for purchase by millers, domestic processors and exporters. The consequence of this circumstance is the high price of 24.00 dinars / kg without VAT, which was registered during this week, which is an increase of 4.58%. When we compare the price of this cereal with the same period last year (18.00 din / kg without VAT), it was recorded growth of 33.33%.
Barley harvest is expected to begin next week. Demand ranged in price from 18.50 to 19.00 without VAT at FCA parity. However, there were no such offers. It is to be expected that next week, when the harvest intensifies, will bring an acceptable price level for both sellers and buyers.
Rapeseed fell sharply. This decline is in line with the fall in the prices of other oils on the world market, such as palm and soybean. Canoe prices have also weakened in Canada, in the context of partially improved weather conditions in the south of the country.
Overview offered and concluded quantities, as well as the range of offered and concluded prices of agricultural products in the observed period, are given in the following table:
Source: Product exchange Novi Sad
Source: Agromedia by www.agromedia.rs.
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