During the past week, market attention was centered on the commencement of purchases for the 2024 harvest of mercantile wheat by the Republic Directorate for Commodity Reserves. Registration began on July 11 via the Novi Sad Product Exchange website, and agricultural farms showed significant interest during the initial two days. Wheat remained the primary commodity in trade.
The corn market experienced heightened demand compared to supply. Contrary to the previous week’s sluggish activity, trade volumes increased by 810 tons. Corn prices ranged from 17.50 to 18 dinars per kilogram excluding VAT, contingent on aflatoxin analysis. The weighted average price stood at 17.81 dinars per kilogram without VAT (19.59 dinars per kilogram with VAT), reflecting a noticeable 1.45 percent decrease from the previous week. Corn accounted for 31 percent of the total weekly turnover. Concurrently, CPT onion parity traded consistently at 18.50 dinars per kilogram without VAT.
Soybean prices saw a modest uptick, with a weighted average of 62.25 dinars per kilogram without VAT (68.48 dinars per kilogram with VAT), marking a 0.57 percent increase from the previous week. Wheat dominated the turnover structure with 2,125 tons, constituting 60 percent of the weekly trade. Demand for wheat was subdued, trading at lower prices than supply due to anticipation of purchases by the Republic Directorate for Commodity Reserves. Exchange contracts ranged from 20.10 to 22 dinars per kilogram excluding VAT, with a weighted average price of 20.74 dinars per kilogram without VAT (22.82 dinars per kilogram with VAT), reflecting a 0.74 percent price decline. One exchange contract was concluded at the CPT buyer parity at 21 dinars per kilogram without VAT.
The soybean market experienced minimal activity throughout the week. Prices started at 61.50 dinars per kilogram without VAT with quality assessment, rising to 63 dinars per kilogram without VAT by week’s end. The weighted average price was 62.25 dinars per kilogram without VAT (68.48 dinars per kilogram with VAT), up by 0.57 percent compared to the previous week.
In the realm of mineral fertilizers, a single exchange contract was concluded for UREU, by-catch, Russian, in a 25/1 package at 44.61 dinars per kilogram without VAT (380 euros per ton without VAT).
Rye was also available at 23 dinars per kilogram without VAT, but demand remained absent during the reporting period.
