On the domestic market, agricultural products prices maintained a high price level. Soybean marked the highest price ever, while corn repeated the same price from March 2012. The first contract for rapeseed crop 2021 was registered at Produktna berza. We can state that the previous period was very turbulent from the price development aspect, which means that we had large price oscillations that were monitored daily, and which were unexpected. We are witnessing how unpredictable the market has become. The total turnover amounted to 2.800 tons of commodities, which financial value was 1.021.636,43€.
At the beginning of the week, corn was traded in a price range from 229,65€ to 232,20€/t, with a bullish trend. At the end of the week, this cereal price had a bearish trend in anticipation of a new crop, after the report published by the USDA. Prices in Chicago cross out the upward movement, which has been the case since the beginning of May, for both the old and the new crop. In one year, the corn price increased by 72,78%. Compared to the previous week, an increase of 1,47% was recorded. The weighted price was 231,44€/t.
Because of the corn price fall, wheat price had also bearish trend. Contract was concluded at price of 200,73€/t, which is at the same time the weighted price. New crop harvest is getting closer, and the forward demand was in the price range from 178,62€/t to 182,87€/t.
Contracts for soybean were concluded at the price of 727,23€/t. The end of the week brings a higher supply compared to the demand. This oilseed, after continuous growth since the beginning of the harvest has recorded a calming of the price, whose oscillations are no longer monitored daily. In one year, the price increased by 103,57% and compared to the previous week an increase of 1,79% was recorded. The forward demand of the new crop was at a price of 505€/t at the parity FCA Vojvodina. However, supply did not adequately respond to demand.
Last week, the most interesting on the market was the movement of prices for crop 2021. Rapeseed reached a historical high in May this year. The first forward contract at parity FCA was concluded at a price of 502€/t, with the delivery of commodities in the harvest.
Sunflower meal with 33% protein was traded at a price of 323,21€/t. At the end of the week, demand at a higher price level did not result in the conclusion of a contract.