Serbia, The price of soybeans on the Product Exchange is 11 percent lower than last year, News
Compared to the previous week, there was an increased volume of trading on the domestic commodity stock market due to greater activity of stock market participants. Lower demand on the Product Exchange in Novi Sad compared to supply continues to affect the negative price trend of both cereals and oilseeds.
The largest price drop was recorded for soybeans, and during this week a total of 2,448 tons of goods were traded, the financial value of which is RSD 93,760,150.00. The drop in prices is also recorded in foreign markets due to the unfavorable economic situation and the forecast for the future crop of cereals and oilseeds.
Since the beginning of the week, there has been a noticeable increase in the supply of corn compared to the demand. Less interest from buyers led to a constant negative trend, so at the end of the week, corn contracts were concluded at a lower price level than at the beginning of the week.
This cereal was traded in the price range from 32.00 to 32.50 din/kg without VAT. The weighted price for this week is 32.21 din/kg without VAT (35.43 din/kg with VAT), which is a drop of 3.13 percent.
Wheat was the most represented in trading during this week. Depending on the quality parameters, this cereal was traded from 33.80 to 37.50 din/kg without VAT. There is still a greater supply of wheat with a higher protein content in this market.
The weekly weight for wheat is 34.42 din/kg without VAT (37.86 din/kg with VAT). Compared to the previous week, the price is 1.44 percent lower.
A negative price trend is also noted in the market of oilseeds. The lack of activity when it comes to soybeans led to a smaller share of this oilseed in the weekly turnover, but also a return to the price levels of March 2021. Only one contract was concluded at a price of 65.00 din/kg without VAT, which also represents the weighting for this week.
At the end of the week, buyers were at lower price levels than closed, which indicates the continuation of the negative price trend. The price of soybeans recorded a drop of 5.80 percent compared to seven days earlier. Compared to the previous year in the same period, the price of this oilseed is lower by about 11 percent, Biznis reports.
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