Weather conditions and the situation in Ukraine are still the main drivers of market movements on world stock exchanges. Negotiations on the Ukrainian grain export corridor between the United Nations and Russia have moved from optimism to pessimism and back.
In addition to all the geopolitical problems in the world, which concern the movement of food and energy prices, the drought and the drop in yields additionally affected the uncertainty on the domestic market. The economic year for spring crops has just started, and plans for a long period of time are extremely difficult to make.
During the previous week, 17,325 tons of goods were traded through the Product Exchange, which is 3.2 times higher than the previous week. The financial value of turnover amounted to 769,748,250 dinars, according to the official report of the only commodity exchange in our country.
Corn has recorded a price increase since the beginning of the week. This cereal was traded in the range of 35.00 to 35.25 din/kg without VAT. The weighted weekly price is 35.15 dinars (38.66 dinars/kg with VAT), which represents an increase of 1.24 percent on a weekly basis. The growth in the price of corn compared to the same period last year is 27.8 percent.
The price of wheat largely depended on the level of protein in it and ranged from 40.00 to 41.00 dinars. The weighted price was 40.06 dinars (44.07 dinars/kg with VAT), which is an increase of one percent on a weekly basis.
The wheat is of extremely good quality this year. It is estimated that favorable weather conditions, as well as the drought that decimated the spring crops, will influence the growth of areas under winter crops this season.
The Republican Directorate for Commodity Reserves bought a total of 12,000 tons of wheat on the market through the Product Exchange, at a price of 41.00 din/kg without VAT (45.10 din/kg with VAT).
There were fewer soybeans on offer than usual for this time of year. Soy was traded at an average price of 78.10 dinars (85.91 dinars with VAT), which is 3.6 percent lower than the previous week, Biznis writes.
