In the past week, the Novi Sad Product Exchange witnessed a notable rise in prices for nearly all primary agricultural products, coupled with an increase in turnover.
Corn market
The corn market experienced subdued activity throughout the week, characterized by weaker demand compared to supply, resulting in lower price levels. Corn contracts were traded within a price range of 19.40 to 19.50 dinars/kg excluding VAT. The average price was 19.49 dinars/kg without VAT (21.44 dinars/kg with VAT), marking a 1.04 percent increase from the previous week. Corn contributed to 15 percent of the week’s total turnover.
Wheat market
Wheat emerged as the dominant commodity, accounting for 62 percent of the total weekly turnover. The buyer base was predominantly comprised of exporters and traders, with millers showing minimal participation. There was considerable interest in wheat with 11.5-12 percent protein content. Contracts for wheat were finalized within a price range of 19.50 to 20.50 dinars/kg without VAT. The average price was 19.98 dinars/kg without VAT (21.97 dinars/kg with VAT), reflecting a 1.41 percent increase compared to the previous period.
Soybean market
Ongoing long heat waves and a lack of precipitation have raised concerns among agricultural producers about the yield and quality of the upcoming cereal and oilseed crops. This uncertainty has contributed to a reduced supply of old crops and a lack of interest in future soybean sales. Soybean contracts were completed in the price range of 64 to 64.50 dinars/kg excluding VAT, with quality adjustments. The average price last week was 64.31 dinars/kg without VAT (70.74 dinars/kg with VAT), demonstrating a 2.08 percent increase.
