The past week on the domestic commodity market was notable for the conclusion of the first SPOT contracts for the new crop of corn and soybeans. Compared to the previous week, there was an increase in participant activity, though the prices of all primary agricultural products experienced a downward trend.
A total of 4,120 tons of goods were traded at the Product Exchange in Novi Sad, representing a 28.14 percent increase from the previous week. The financial value of these trades amounted to RSD 97,432,500, up 5.87 percent. Wheat was the most traded commodity during this period.
In the corn market, a weak supply was observed throughout the week, with a slight increase in the availability of the new crop midweek. The first SPOT contract for the 2024 corn crop was concluded at the beginning of the week, priced at 18.00 dinars/kg without VAT.
For the 2023 corn crop, purchase contracts were finalized within the price range of 18.20 to 18.90 dinars/kg without VAT. The weighted average price was 18.26 dinars/kg without VAT (20.09 dinars/kg with VAT), reflecting a 3.79 percent decrease from the previous week. Corn accounted for 16 percent of the total trading volume.
The wheat market saw an increase in supply midweek compared to previous periods, but market activity slowed again by week’s end. Exchange contracts were often hindered by discrepancies between the offered and requested goods. Wheat was traded in the price range of 20.00 to 20.50 dinars/kg without VAT, depending on quality and parity. The weighted average price was 20.28 din/kg without VAT (22.30 din/kg with VAT), a 2.01 percent decrease from the prior week. Wheat represented 80 percent of the total trading volume, making it the most traded crop.
The soybean market started the week quietly, but interest in the new crop grew midweek. The first SPOT contract for the 2024 soybean crop was concluded at the CPT buyer parity for 57.00 din/kg without VAT, with quality adjustments. Purchase contracts at the FCA parity were settled at 56.50 din/kg without VAT, also with quality adjustments.
For the old soybean crop, one commodity-exchange contract was finalized at the CPT buyer parity at a price of 61.00 dinars/kg without VAT, including quality adjustments.
