Increased activity on the commodities market, both on the supply and the demand side, influenced growth of quantitative and financial turnover, as well as the upward price trend. In the previous week, a total of 4.340 tons were traded, the financial values of which reaches 1.229.666,23 €, which is a growth of 152,4% compared to the previous week. When it comes to soybeans, there is still no trading on the market.
From the beginning of the week, there was noticeably increased demand for corn, which resulted in increased prices. Sellers held back until mid-week when there was bigger offer on this market. Corn was traded in a price range from 238,63 €/t up to 255,67 €/t. The weighted price is 247,40 €/t, which is a 4,2% increase compared to the week before.
On the wheat market, like on the corn market as well, there is a positive price trend. This commodity recorded an increase in price of 4,6% compared to the previous week. Greater interest from buyers and restraint from sellers at the beginning of the week resulted in higher price levels. As the week went bye, the offers of larger quantities were recorded on this market. Wheat was traded in price range from 250,56 €/t to 259,93 €/t, depending on quality parameters. The weighted price for this week is 253,11 €/t. Unlike the previous year, when in this period of the year the first forward contract for the wheat was already concluded, forward trading of the new crop of the wheat is currently absent from the market.
When it comes to the soybean market, there is almost complete absence of supply and demand. From the beginning of the month, this oilseed is absent from commodity trading. Offers of smaller quantities of the soybean at the beginning of the week did not meet with a response on a demand side. However, there was some demand at the end of the week at 549,69 €/t and 553,95 €/t, but contracts were not concluded due to the higher price levels of the offer from 562,47 €/t to 566,73 €/t. In February 2022, there was also a weak interest for soybeans. Current price level is lower for 17,3% compared to the last year, when at the end of the month soybeans traded at the price of 664,74 €/t.
The larger offer of mineral fertilizers continues during this week. UREA, AN and KAN were offered on a lower price level compared to the previous period. The offers for AN and KAN did not result in the conclusion of a contract. AN was offered during this week on the price from 561,00 €/t to 576,00 €/t. UREA was traded at a price of 515 €/t at FCA parity, while for CPT buyer parity the contract was concluded at a price of 518,00 €/t. Further offers for jambo bags packing ranged in price from 515,00 €/t to 520 €/t, while the 25/1 package was offered at 540,00 €/t.
After a long time, there was a trading with the feed barley. Contracts for this commodity were concluded at a price of 251,41 €/t.
Sunflower meal was not traded this week due to weaker customer interests. The offer was in the price range from 325,55 €/t to 328,96 €/t.
Due to the holidays, less working days this week also had an impact on the lower realized turnover on the commodities market. Increased demand for cereals is noticeable, while soybeans are absent from trading this week as well. A total of 1.804 tons were traded, the financial value of which reaches 487.282,65 €. Compared to the previous week, when there was an increase in both quantitative and financial turnover, this week brought a 35% drop.
Smaller lots were traded on the corn market. Compared to the previous period, there is a greater buyer’s interest in this cereal. Corn was traded in the price range from 234,39 to 238,65 €/t. The weighted price is 237,45 €/t, which is statistically lower by 1,8% compared to the previous week. The contract for corn with moisture up to 16% was concluded at a price of 225,86 €/t.
As during the previous week, wheat recorded primacy in trading. Contracts for this commodity were concluded in the price range from 241,20 to 242,06 €/t. Only wheat with a minimum of 12% protein was traded. The weighted price is 241,97 €/t, which is an increase of about 1% compared to seven days earlier.
There is a complete lack of demand on the soybean market, which has resulted in soybeans being absent from commodity exchange trading for the third week. The sellers were also more restrained in their offers this week, so offers of 566,79 €/t, for soybeans with quality calculation, did not result in the contract conclusion.
Of the other goods, sunflower meal with 33% protein was traded at 332,40 €/t. This commodity has a constant increase in price and compared to the previous week, the price is higher by 3,8%.
After the weak activity of the participants in the first working days, from the middle of the week there will be greater dynamics on the commodity market. A further drop in grain prices and the absence of soybeans in trading marked this week. In total, 2.423 tons of goods were traded, the financial value of which is 751.385,13 €, which is an increase of 117,52% compared to the previous week.
Weak activity of exporters, but also of domestic processors, affected the decrease in the volume of turnover and the further drop in prices in corn trading. At the beginning of the week, a price of 255,69 €/t was recorded, and at the end of the week, the traded price was 234,39 €/t. The weighted price is 241,80 €/t, which is a decrease of 6,75% compared to the previous week.
Wheat was the most dominant crop in terms of volume, with 1.400 tons of goods traded. The price was recorded in the range from 238,65 to 264,22 €/t, and buyers still show the most interest in wheat with 11-12% protein.
Although weak, the supply of soybeans at the price level of 566,79 to 571,05 €/t, with the calculation of quality, did not meet the response of buyers. Extremely weak demand and at a lower price level of 554,00 €/t, led to the absence of soybeans from trading this week.
Since the beginning of the week, there has been a supply of smaller quantities of meals for prompt delivery, which caused a constant increase in the price. Sunflower meal with 33% protein was sold in the range of 315,36 to 328,14 €/t. Compared to the previous week, the price recorded an increase of 2,44%.
Although the time has come for feeding wheat, the fall in nitrogen fertilizer prices has affected buyers’ restraint in purchasing. Exchange contracts were concluded for artificial fertilizer AN, Russian 25/1, at 610,00 €/t, while UREA, Turkmenistan 500/1 was traded at 570,00 €/t.
Of the other goods, we note the trade in feed flour in bulk at 221,60 €/t.