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Positive trends in Agricultural trading: Highlights from Novi Sad Product Exchange

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Last week at the Product Exchange in Novi Sad saw significant activity, notably marked by the closure of the first oilseed rape exchange contract for this year’s crop. Throughout the week, a total of 2,761 tons of goods were exchanged, representing a financial value of 67,562,160 dinars.

Corn remained the focal point of trading activities, maintaining a positive trajectory in the prices of primary agricultural products. The corn market initially witnessed limited offerings, which gradually increased as the week progressed. However, a decline in supply towards the end of the week complicated contract negotiations, causing discrepancies between supply and demand dynamics.

Corn prices ranged between 16.50 and 17.00 dinars/kg, excluding VAT, contingent on aflatoxin analysis and market conditions. The weighted average price settled at 16.80 din/kg (18.48 din/kg with VAT), reflecting a 3.65 percent increase compared to the previous week. Additionally, contracts for wet corn with up to 16 percent moisture content were concluded at prices ranging from 16.40 to 16.50 din/kg, while 2022 corn traded at 16.60 din/kg.

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Corn dominated the trading landscape, contributing to 56 percent of the total volume exchanged during the week.

Wheat supply slightly lagged behind demand throughout the week, with heightened activity observed in the CPT onion parity. Wheat traded within the price range of 17.80 to 19.00 dinars/kg, excluding VAT, depending on quality and market parameters. The weighted average price stood at 18.32 din/kg (20.16 din/kg with VAT), reflecting a modest 0.48 percent increase from the previous week.

Wheat accounted for 24 percent of the total turnover during the reporting period.

Soybean trading activity saw a marginal uptick compared to the previous period, with prices settling at 52.00 din/kg, excluding VAT, factoring in quality considerations. This translated to a weighted average price of 57.20 din/kg with VAT, marking a noticeable 1.46 percent increase from the previous week.

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