The last week of March saw a surge in demand for corn at the Product Exchange in Novi Sad, which led to a price increase for the cereal. In contrast, wheat prices declined, and soybeans saw minimal market activity, with no trades taking place due to the weak presence of stock market participants.
A total of 2,012.20 tons of goods were traded, a 35.11% decrease compared to the previous week, with a financial value of 54,638,422 dinars, marking a 39.02% decline. Corn dominated trading, accounting for 72% of the weekly turnover.
The demand for corn began increasing early in the week, driven by limited supply, which pushed prices upward. Domestic processors, exporters, and traders made up the bulk of the buyer base. In the second half of the week, supply increased but remained at higher prices compared to demand, resulting in reduced trading volumes. Exchange contracts were finalized within a price range of 21.50 to 22.30 dinars/kg (excluding VAT), with a weighted average price of 21.98 dinars/kg (24.17 dinars/kg including VAT). The price of corn increased by 1.07% compared to the previous week.
Meanwhile, wheat continued to see weak market activity. Buyers focused mainly on wheat with a protein content of 11-11.5%, while the offer predominantly included better quality wheat. Exchange contracts were concluded within the price range of 23.50 to 24.50 dinars/kg (excluding VAT), with a weighted average price of 23.79 dinars/kg (26.16 dinars/kg including VAT), showing a 4.09% decrease compared to the previous week.
Wheat with a minimum 13% protein was traded last week, while this week saw contracts for wheat with 11-13% protein, impacting the statistical data. The demand for new crop wheat with at least 11.5% protein at a price of 21.50 dinars/kg (excluding VAT) did not result in any sales due to limited supply.
In the soybean market, there were small quantities available during the first half of the week, but no trading contracts were concluded, and by the week’s end, activity completely stalled.
Finally, a barley contract was completed at a price of 27.50 dinars/kg (excluding VAT), equivalent to 30.25 dinars/kg including VAT.
