Weekly Reports

2022 #45 (14.11.-18.11.)

Price fall has continued during this week. The turnover was lower than the previous week, at 3.525 tons of commodities, representing a drop of 11,2%. The financial value reached 1.407.896,22 €, i.e., less by 4% than last week. On the international market, there were no significant movements, and correlated to that the contract about the food corridor from Ukraine has continued.

Corn marked a bearish price trend at Produktna berza. The price ranged from 289,87 to 298,39 €/t. Share in the trade of this commodity was significantly below the average for this time of the year. The weekly weighted price was 295,58 €/t, which represents a 1,92% lower price compared to the previous week.

Wheat was the most traded commodity. The price was in the range of 323,97 to 328,23 €/t, depending on quality and parity. On the weekly basis, the price was lower by 2,71% and the weighted price was 326,44 €/t.

All contracts for soybean were concluded at the same price. This oilseed has continued a downward trend with a weekly fall of 4,05%. The weekly price was 605,31 €/t. Although the drought lowered this year’s crop; the record world yields, lower soybean prices in the region as well as poorer quality of the domestic grain, along with the retrovegetation of soybean in certain areas, further complicated the situation on the domestic market and contributed to the drop in the price of this oilseed. All of this indicates that the next soybean season will suffer the biggest drop in the area.

Feed barley with a specific mass of 60kg was traded at 300,95 €/t.

2022 #44 (07.11.-10.11.)

In the shortened working week on the commodities market, a negative price trend was recorded both on the grain market and on the oilseeds market. The beginning of the week brought reduced demand and higher supply in all markets. In foreign markets, prices fell after the publication of the USDA report, which reflected the restraint of buyers on the domestic market. A total of 3.970 tons of commodities were traded through Produktna berza, which a financial value reaching 1.466.146,65 €. Compared to the previous week, the turnover is lower by 4,2%.

The corn market has noted a lower activity than the previous week. Corn with higher moisture was mostly traded and contracts were concluded from 289,86 to 296,68 €/t. At the beginning of the week, the contract for corn with delivery until the end of February was concluded at 307,76 €/t. As the week progressed, the demand in this market became less and less. Supply of artificial dried corn in the price range from 298,38 to 306,91 €/t did not find their buyer.

Market participants were most active when it came to wheat. This cereal was the most traded in previous days. Since the beginning of the week, there has been a higher supply than demand. Although wheat with a protein of 11,5-12% was the most current one, there was a supply of wheat with a higher protein content. On the demand side, most inquiries were for wheat with a protein of 11,5-12%. This cereal was traded in the price range from 334,19 to 336,75 €/t. The weekly weighted price is 335,47 €/t, which is a decrease of 1,33% compared to the previous week.

A negative price trend was recorded on the soybean market. Since the beginning of the week, there has been noticeably less interest from both buyers and sellers. The price of this oilseed is at its lowest level since July. If we compare with the previous year in this period, there was also a negative price trend. In 2022, soybeans were traded at 630,87 €/t, with the quality calculation, which is also the weighted price. Compared to the previous comparative data, the price is lower by 5,40%.

The contract for feed barley, SRPS quality, was concluded at 297,53 €/t.

This week, a larger supply of fertilizers was also recorded. Although the offer was increased, only one contract was concluded for Russian urea, 600/1, at 810,00 €/t.

Sunflower meal, 33% protein, was traded at 300,09 €/t.

2022 #43 (31.10.-04.11.)

And while grain prices fluctuated on foreign markets due to Russia’s withdrawal from the agreement on the food corridor, in the middle of the week Russia’s return to the agreement on Ukrainian grain led to a noticeable drop in prices on foreign commodity exchanges. In addition to the geopolitical situation, weather conditions are still the main driving force on world markets. On the domestic market, this week there is a lower volume of trading compared to the previous period. A total of 4.145 tons were traded, the financial value of which reached 1.647.383,90 €.

On the corn market, the beginning of the week brought more activity and supply. However, from the middle of the week, the market calmed down and a downward price trend occurred. Artificially dried corn was traded from 299,23 to 309,60 €/t, depending on the aflatoxin analysis. There is still a larger supply of corn with increased moisture up to 16%, which was traded at 289,85 €/t. Compared to the previous week, a price drop of 0,39% was recorded. The weighted price is 301,36 €/t.

Less activity is noticeable on the wheat market. As in the previous week, in the beginning, there was a higher demand compared to the supply, but by the end of the week, the interest of buyers would wane. Most inquiries were for wheat with a minimum of 11,5-12% protein. The contracts were concluded in the price range from 336,74 to 341,00 €/t. At the end of the week, wheat was absent from trading at Produktna berza. The weighted price is 339,98 €/t, which is a decrease of 1,01% compared to the week before.

On the soybean market, there is a larger supply of the old crop, which led to the realization of the contracts in the price range of 682,00 to 686,26 €/t, with the calculation of quality. Buyer interest was very low throughout the week, with a complete withdrawal at the end of the week. The new crop of soybeans was missing from trading, and the supply was at a lower price level, from 647,90 to 656,42 €/t, with the calculation of quality.

Of the other commodities, feed barley was traded at a price of 294,96 €/t. The contract for sunflower was concluded at 575,44 €/t, at the parity FCA, while at the port parity the contract was concluded at 579,70 €/t. The contract for NPK, 16:16:16, CPT buyer, was concluded at 828,54 €/t.

2022 #42 (24.10.-28.10.)

In the last week of October, the prices of primary agricultural products had a positive trend. There is a lower demand than supply on the commodity market. A total of 54.806 tons were traded through Produktna berza, while the financial value reached 21.052.246,65 €/t.

Activity on the corn market was higher in the middle of the week, while at the very beginning both buyers and sellers were restrained. Buyers were mostly traders, while the interest of exporters was absent this week. Corn was traded from 298,35 to 305,17 €/t. The weighted price for this week is 302,52 €/t, which is an increase of 0,96%. Contracts for corn with a higher percentage of moisture were realized from 288,12 to 300,90 €/t.

The beginning of the week brought reduced supply compared to demand on the wheat market. However, by the end of the week, greater activity of sellers was recorded. Wheat with a protein of 11,5-12% was offered the most, but there was also a supply of wheat with a higher protein content. Wheat was traded from 341,82 to 345,23 €/t, depending on the quality. The weekly weighted price was 343,44 €/t, which is an increase of 0,57% compared to previous data.

Weaker demand was recorded in the soybean market. Greater activity on the supply side compared to the previous week did not result in trading in larger volumes. At the beginning of the week, soybeans were traded in the price range of 664,89 to 671,70 €/t. The lower interest of buyers in this oilseed affected the negative price movement at the very end of the week when the contract was concluded at a price of 660,62 €/t. The weighted price was 666,76 €/t, which statistically represents a growth of 0,15% compared to the week before.

Feed barley with a specific mass of 62kg was traded at a price of 294,08 €/t, while barley with a smaller specific mass was traded in a price range of 289,82 to 291,53 €/t. At the end of the week, there is an increased demand for this commodity.

The contract for mineral fertilizer NPK, 15:15:15, on the parity FCA, was concluded at 802,29 €/t, while on the parity CPT, it was traded at 802,38 €/t.

The Republican Directorate for Commodity Reserves continued during this week the purchase of mercantile wheat at a price of 349,49 €/t. So far, a total of 64.100 tons have been purchased.

2022 #41 (17.10.-21.10.)

Weather conditions and the situation in Ukraine are still the main drivers of market movements on world commodity exchanges. Negotiations on the export corridor for Ukrainian grains, between the UN and Russia, ranged 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. What is extremely important to do is to make an analysis of the actual state of stocks of grains and oilseeds in domestic warehouses.

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 the turnover was 6.561.687,25 €.

Corn has recorded a price increase since the beginning of the week. This cereal was traded in the range of 298,36 to 300,53 €/t. The weighted weekly price is 299,63 €/t, which is a 1,24% increase on the weekly level. In the same period last year, corn was traded at 234,42 €/t, i.e., corn is 27,8% more expensive today.

The price of wheat largely depended on the protein level and ranged from 340,98 to 349,50 €/t. The weighted price was 341,49 €/t, which is a 1% increase on the weekly level. The wheat is of extremely good quality this year. It is estimated that favourable 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 Produktna berza, at a price of 349,50 €/t.

There were fewer soybeans in supply than usual for this time of year. Soybean was traded at an average price of 665,76 €/t, which is 3,6% lower than the previous week.

Of the other commodities, feed barley with a specific mass of 58 kg was traded at 285,57 €/t, and UREA at parity CPT buyer at 838,50 €/t.

2022 #40 (10.10.-14.10.)

Compared with the two previous weeks, when the lower activity was noted, this week the turnover was higher by 170%. The cereal market has had a positive price trend, while soybean was stable. During this week were traded 5.300 tons, in which most share had corn. Total financial value was higher by 128,6% than the previous week and reached 1.836.562,64 €.

The greatest interest was recorded in the corn market. This cereal took precedence in trading with a total of 3,525 tons traded. Corn with a moisture content of up to 14.5% was the most requested, and the contracts were concluded in the price range from 289,83 to 296,65 €/t. However, the supply of dry corn is still quite small, while an increased supply of corn with higher moisture content is recorded. Corn with an increased percentage of moisture up to 16% was traded from 281,30 to 286,42 €/t. The weekly weighted price is 295,79 €/t, which represents a price increase of 0.71% compared to the week before. The old corn crop was traded at 300,06 €/t.

When it comes to wheat, increased interest in wheat with a minimum of 12% protein has been expressed since the middle of the week. The contracts were realized at 336,71 €/t. At the end of the week, wheat with a higher protein content was traded at 340,97 €/t. Weaker supply and increased demand moved the price in a positive direction. This week, the weighted price was 338,16 €/t, which is an increase of 1.64%.

The price level of soybean was stable during the week. There is still a price spread between buyers and sellers on this market, which leads to reduced activity and lower trading volume. Soybean 2022 was traded at a price level of 664,90 €/t, which is also the price weight. If we compare with the same period of the previous year, soybean is currently traded in a smaller volume and at a lower price level by 2,50%.

Regarding fertilizers, the contract was concluded at 820,00 €/t for NPK 16:16:16. On the market, there is no shortage of nitrogen fertilizers and NPK formulations, but the demand is almost non-existent. Although it is the sowing period for wheat, when it is logical to buy larger quantities of fertilizers, this year there is no trading on a larger scale.

Sunflower meal, 33% protein, was traded at 277,04 €/t. At the end of the week, supply was at a higher price level, but interest in buying was missing. Soybean meal was offered at 686,21 €/t.

 

2022 #39 (03.10.-07.10.)

In the first week of October, the lower activity on the commodity exchange market has been continued. On the wheat market was noted a positive price trend, while the corn price was stable. Total turnover was 1.962 tons, while financial value was 803.211,90 €. Compared with last week, the total turnover was lower for 22,4%.

The lower supply of dry corn was marked. Supply was at a higher price level than demand, during the whole week. Buyers had the most interest in buying corn with moisture 14,5% and longer storage. Contracts for the corn old crop has realized at 292,35 €/t, while the new crop was traded from 292,35 to 294,06 €/t. Compared to the previous year, this period, the price is higher for 35%. Improved weather conditions will permit intensive harvest, so in the future period we could expect a bigger supply of corn 2022.

Wheat was the most traded commodity in the previous week. At the beginning of the week, wheat with higher protein was the sought-after commodity. At the end of the week there was a bigger demand than supply and at higher price levels. Depending on quality, contracts for wheat were concluded from 326,45 to 357,98 €/t. The weighted price was 332,67 €/t, which is an increase of 0,55%.

For the second week in a row, there was lower interest on the supply and demand side on the soybean market. At the beginning of the week, supply was at a higher price level than demand. Different price levels have resulted in no contract realization. Like at corn, the weather conditions will impact the continuation of the harvest.

Feed barley was traded from 283,83 to 285,54 €/t.

At fertilizers, MAP 12:52 was traded at 1.160,00 €/t. NPK, 16:16:16, CPT buyer, was traded from 812,45 to 817,48 €/t.

2022 #38 (26.09.-30.09.)

On the commodity exchange market, lower activity has continued. The cereal market noticed a positive price trend, while soybean was absent in trading this week. Total turnover was 2.659 tons, which a financial value was 1.035.030,32 €.

A higher supply was recorded on the corn market, especially for naturally dry corn crop 2022. However, there was not much interest on the demand side. In terms of buyers, exporters were quiet in anticipation of further geopolitical movements in the world and the questionable quality of this commodity in Serbia. Corn 2021 was traded at 292,37 €/t, which is also the weekly weighted price. Contracts for corn with extended storage during November and analysis for toxins were concluded from 291,52 to 294,07 €/t. In comparison with the previous data, the price is higher by 1,18%.

Unlike the previous week, when wheat was traded the most, the market was calm during the previous week. Quantitatively, wheat took a very small share in trading, and the contracts were realized at a much higher price level. Buyers expressed the most interest in buying wheat with increased protein. Depending on the quality parameters, contracts were realized from 320,50 €/t (12% protein) to 349,48 €/t (15% protein). The weighted price was 330,90 €/t, which is an increase of 4,69%.

On the soybean market, contracts were not realized. Weak supply and even less demand, as well as the price spread between buyers and sellers, led to the absence of this oilseed in trading. Supply at 681,91 €/t did not meet an adequate demand response.

Sunflower traded at a lower price level compared to seven days earlier. Contracts were concluded in the price range from 562,57 to 564,28 €/t. The weighted price for this week was 562,91 €/t, which is a decrease of 0,84%.

This week, a greater interest in fertilizers was recorded. Fertilizer NPK 15:15:15 was traded at 795,00 €/t. UREA was traded from 830,00 to 840,00 €/t at FCA parity, while at CPT parity was traded from 840,00 to 845,00 €/t.

2022 #37 (19.09.-23.09.)

Reduced activity on the market led to lower total turnover compared to last week. A total of 3.500 tons were traded, with a financial value of 1.351.728,39 €. Cereal prices recorded growth, while a negative price trend was observed on the oilseeds market.

At the beginning of the week, a larger supply of old-crop corn was noticeable. However, as the week progressed, the supply decreased. Corn 2021 was traded in the price range from 288,13 to 289,83 €/t. The weighted price for this week is 288,98 €/t, which is an increase of 0.40% compared to the week before. On the other hand, when it comes to the new crop, the absence of larger quantities is noticeable. The contract for the new crop of corn was concluded at 285,57 €/t, for moisture up to 14.5%, while the contracts for corn with increased moisture were concluded from 276,19 to 277,05 €/t. At the end of the week, corn with impurities up to 2% was traded at 289,83 €/t.

In terms of quantity, wheat was the most present in trading. At the end of the week, there was a greater interest of buyers in purchasing wheat. Depending on the protein content, this cereal was traded in a wide price range from 314,55 to 332,46 €/t. The weighted price for this week is 316,09 €/t. Compared to the previous week, the price recorded an increase of 0.78%.

In the soybean market, buyers’ interest in the old crop was extremely low. Supply was at higher price levels compared to demand. The contracts were concluded at a single price of 690,49 €/t. The demand for the new soybean crop throughout the week was at a lower price level compared to the supply. At the end of the week, an increased demand was recorded, so soybean 2022 was traded at 677,70 €/t. Compared to the previous week, the price recorded a decrease of 1.24%.

Rapeseed was traded at 562,62 €/t.

Russian urea, 25/1, CPT buyer, was traded at 849,98 €/t.

In terms of meals, soybeans and sunflowers were traded. Soybean meal, 44% protein, was traded at 681,96 €/t. Sunflower meal, 33% protein, was traded at 277,05 €/t.

2022 #36 (12.09.-16.09.)

In the week after us, there was a greater interest of market participants in the new crop of corn and soybean. In terms of price, wheat was on the rise, while the price of corn crop 2021 was on the decline. Total turnover was 4.790 tons with a total financial value of 1.776.720,56 €.

On the corn market, most inquiries were for the new crop of this cereal. Corn with a higher percentage of moisture was mostly offered. The old crop of corn was traded in a price range of 285,50 to 289,76 €/t, but there was noticeably less interest in this commodity, which led to a negative price trend. The weighted price for this week was 287,80 €/t, which is a drop of 1,38%.

A weaker supply was present on the wheat market. Compared to the previous period, when wheat with 11,5-12% protein was the focus of buyers’ interest, this week saw a greater interest in wheat with a higher percentage of protein. Depending on the quality parameters, wheat was traded in the price range from 308,51 to 322,15 €/t. Compared with the previous week, the price recorded an increase of 2,20%. The weighted price was 313,54 €/t.

Soybean old crop was not traded this week. Supply at a higher price level than demand did not result in a contract conclusion. On the other hand, since the beginning of the week, a greater interest in crop 2022 has been noticeable. The new crop of soybean was traded at the same price level as the previous week. The contracts were concluded at a single price of 686,06 €/t, with quality calculation. This price is also the weighted price.

Sunflower crop 2022, at parity CPT buyer, was traded at 571,94 €/t

Urea, Russian, package 25/1 was traded at 767,71 €/t.

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