Last week saw notable activity at the Product Exchange in Novi Sad, with the first exchange contract for a new crop of soybeans being finalized. Prices for primary agricultural products experienced an upward trend throughout the week, with corn remaining the most actively traded commodity.
A total of 6,635 tons of goods were traded over five working days, marking a 46.63 percent increase in volume turnover compared to the previous week. The total financial value of the turnover amounted to 150,806,000 dinars. Corn dominated the market, with high demand observed from exporters, traders, and mixed farmers.
Corn prices ranged from 17.80 to 19.00 din/kg without VAT, depending on aflatoxin analysis and parity. The weighted average price stood at 18.39 dinars/kg without VAT (20.23 dinars/kg including VAT), reflecting a notable 6.22 percent increase from the previous week. Corn transactions represented 58 percent of the weekly turnover.
While wheat supply remained limited at the start of the week, it slightly improved in the latter half. Buyers, primarily millers, showed interest, although demand from exporters was weaker. Wheat prices ranged from 19.50 to 21.30 dinars/kg without VAT, with a weighted average price of 20.31 dinars/kg without VAT (22.34 dinars/kg with VAT), marking a 3.96% increase. Exchange contracts for wheat were concluded at the CPT buyer parity, ranging from 21.00 to 21.20 dinars/kg without VAT, accounting for 34 percent of the total turnover.
The soybean market saw the first exchange contract for the 2024 crop at a price of 52.72 dinars/kg without VAT, with subsequent requests at lower price levels. For the 2023 crop, market activity was limited, with one exchange contract concluded at a price of 55.50 din/kg without VAT (61.05 din/kg with VAT), representing a 1.61 percent increase from the previous week.
Additionally, sunflower meal with 33 percent protein was traded at prices ranging from 27.50 to 27.70 din/kg without VAT, and soybean meal with 44 percent protein at prices from 60.70 to 61.00 din/kg without VAT. Feed barley with a hectoliter weight of 60 kg was also traded at a price of 16.70 dinars/kg without VAT.
