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Calm week on the Novi Sad Product Exchange: Wheat dominates trading amid reduced activity

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The past week on the Product Exchange was notably quiet, with a significant decrease in market activity. A total of 1,320 tons of goods were traded, reflecting a 71.75% decline compared to the previous week, with a total financial value of 32,399,630 dinars.

Wheat dominated trading, accounting for 63% of the total turnover. Corn exchange contracts were traded within a price range of 18.50 to 19.40 dinars/kg (excluding VAT), showing a clear downward trend as the week progressed. The weighted average price for corn fell by 2.37% to 18.95 dinars/kg (excluding VAT) compared to the previous week.

The buyer composition for these contracts included regional exporters and traders, while domestic processors and exporters to ports were notably absent.

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In the wheat market, buyers expressed interest not only in bread wheat (with 11.5-12% protein) but also in higher-quality wheat (13-14% protein) and wheat for animal feed. The increased share of higher-quality wheat in total weekly turnover contributed to a slight price increase of 0.34%, with the weighted average price for wheat reaching 22.74 dinars/kg (excluding VAT). Contracts for fodder wheat were concluded at a fixed price of 21.00 dinars/kg (excluding VAT).

The soybean market also exhibited passivity, with weak supply failing to drive prices upward. A bid-ask spread persisted throughout the week, resulting in no stock contracts.

On the first working day of the week, a contract for fodder barley was concluded at 21.50 dinars/kg (excluding VAT). However, subsequent offers for this cereal did not meet demand.

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