Unusually low turnover was noticed at Produktna berza last week. The main reason we see in non-working days, and decreased activity of participants on domestic market. Corn marked a slight downward trend, while soybean and wheat were not traded in the previous week. Total turnover was 620 tons, while financial value was 159.846,34 €.

Corn was the most sought-after commodity. Exporters and traders were most interested in buying this cereal, while the interest of domestic processors was not distinct. Contracts on parity FCA were realized at prices from 227,92 to 233,02 €/t, while on parity CPT was at 233,87 €/t. Corn with augmented moisture was traded at 221,12 €/t. The weighted price for this week was 228,69 €/t. In comparison with the previous week, corn prices fell by 0,42%.

After a long period, soybean was not traded. On the first day of the week, supply was at prices from 634,44 to 637,84 €/t. Due to passivity on the demand side, there were no contract conclusions. The end of the week brought changes in the form of demand at 635,29 €/t, with quality calculation, while supply was at a higher price level. Although there was no statistical data of weighted price, we can state that this oilseed had a stable price level in comparison with the previous period.

At wheat market without significant changes. There is a noticeably augmented supply compared to demand, due to the lower interest of exporters and domestic processors. Exporters on FOB have not been able to fit into domestic prices for a long time, which is the reason for the lack of demand. Buyers from the region are postponing purchases of new quantities. Depending on the quality and clause “free stock”, the supply was at prices from 259,39 to 263,64 €/t. This situation on the domestic market surges a possible price fall. Forward supply of wheat crop 2022 at 238,13 €/t, with delivery during July, did not respond on demand.

The fertilizers prices are falling. On the one hand, UREA supply is increasing and thus there is a negative price trend, while on the other hand, there is an increased interest in buying AN.  From the agronomic point of view, it is logical that the demand for AN increases due to the approach of wheat supplementation with this nitrogen formulation.

Verica Popov, broker

Neuobičajeno slab promet na novosadskoj “Produktnoj berzi” obeležio je proteklu nedelju. Razlog, pre svega, vidimo u smanjenoj aktivnosti učesnika na domaćem robno-berzanskom tržištu usled cenovnog spreda između kupaca i prodavaca. Do četvrtka, učesnici su bili oprezni u trgovanju, zbog izveštaja USDA koji je objavljen sredinom protekle nedelje. Statistički je zabeležen pad cena svih primarnih poljoprivrednih proizvoda. Ukupan promet je iznosio 1.387,30 tona robe (-84,67%), čija je finansijska vrednost iznosila 68.684.194,00 dinara (-77,61%).

Za razliku od prethodne nedelje, gde je kukuruz uzeo apsolutni količinski primat u trgovanju, ove nedelje je zabeležena smanjena aktivnost izvoznika i domaćih prerađivača za kupovinom ove žitarice. Berzanski ugovori tokom nedelje, na paritetu FCA (fco-utovareno), zaključeni su po ceni od 27,00 din/kg bez PDV-a. Ovo ujedno predstavlja ovonedeljnu ponderisanu cenu. U odnosu na podatak iz prethodne nedelje, cena kukuruza je niža za 0,67%. Bez obzira na statistički pad cene, na kraju nedelje, možemo konstatovati da je cenovni nivo kukuruza bio bez većih oscilacija.

Najveće cenovne oscilacije, bile su prisutne na tržištu soje. Početkom nedelje, kupoprodajni ugovori su realizovani na cenovnom nivou od 74,00 din/kg bez PDV-a, što je dovelo do silaznog trenda ove uljarice. Nakon izveštaja USDA, cene u Čikagu su bile podržane usled rastućih strahovanja oko vremenskih prilika u Južnoj Americi. Još jedan od faktora koji je imao uticaja, jeste, rod soje u Brazilu koji je procenjen na 134 miliona tona, u poređenju sa prošlomesečnom procenom od 139 miliona tona i decembarskom procenom od 144 miliona tona. Argentinska proizvodnja sojinog zrna se očekuje da bude snižena. Sam kraj nedelje, na organizovanom robno-berzanskom tržištu donosi intenzivniju tražnju i zaključenje ugovora po ceni od 74,70 din/kg bez PDV-a. Trgovalo se isključivo uz obračun kvaliteta za promptnu isporuku. Ponderisana cena iznosi 74,55 din/kg bez PDV-a, što je blagi pad 0,23%. Tokom januara, uvoz ove uljarice je iznosio 5.929 tona, dok je izvezeno svega 120 tona jer cene na FOB-u nisu prihvatljive kod nas. Smanjena ponuda i potražnja od strane domaćih prerađivača i trgovaca u prethodnom periodu, zadržala je visok cenovni nivo ove uljarice na domaćem tržištu.

Na tržištu pšenice, bez bitnijih promena na strani tražnje. Pasivnost je i dalje prisutna. Prometovano je svega 150 tona, na cenovnom nivou od 31,00 din/kg bez PDV-a, što predstavlja ponderisanu cenu protekle nedelje. U odnosu na prethodni upoređujući podatak, ova žitarica je pojeftinila za 1,27%. Trgovalo se kvalitetnijom pšenicom sa minimum 12,5% proteina sa klauzulom „gratis lager“ do 19. marta. Na domaćem tržištu, izvozna aktivnost je smanjena, što se odrazilo na nedeljni promet. Osim kod nas, tražnja u Ukrajini je bila slabija sa ograničenom ponudom na tom tržištu.

Cene đubriva su u padu. Ruska UREA, pakovanje 500/1, prometovana je po ceni od 96,42 din/kg bez PDV-a. Ruski AN, 900/1, na paritetu CPT (fco-isporučeno), prometovan je u cenovnom rasponu od 83,48 do 84,07 din/kg bez PDV-a, sa jasnom tendencijom pada cene.

Verica Popov, broker Produktne berze

During the first week in February, prices of corn and soybean rise, while wheat had a negative price trend. Total turnover for this week 9.049 tons of commodities, of which financial value was 2.608.848,74 €.

At the beginning of the week, corn had an upward trend, due demand of exporters and domestic processors. Besides the domestic market, this price trend was marked on the European and American markets, due to unfavorable weather conditions in Argentina and Brazil. Contracts on parity FCA were concluded from 229,63 to 233,88 €/t, while on parity CPT, corn was traded at 236,43 €/t. The greatest interest was in the purchase of this grain with delivery in February/March. In the middle of the week, the negative price trend on the international market was completely correlated with the movements in our country as well. The impression was gained that the supply was increased in relation to the demand. At the very end of the week, corn with the clause “free stock March” was concluded at 229,63 €/t, which indicates a drop in price. The weighted price was 231,16 €/t.

On the soybean market, in contrast to the end of the previous week, when was less interest in soybean, during the past week, there has been more intense demand for the purchase of this oilseed. Purchase contracts with the takeover of goods during February were concluded in the price range from 633,61 to 637,86 €/t, with a clear upward trend. On the demand side, domestic processors and traders showed more interest. The weighted price was 635,48 €/t. Compared to the previous comparative data; soybeans increased in price by 0,35%. Soybean prices continued to rise in the US market, reaching a seven-month high in Chicago, due to continued international demand, but also due to lower production in Brazil compared to last month’s USDA report.

Unlike the corn and soybean markets, the wheat market was much calmer. Better-quality wheat for prompt delivery, with a minimum of 12% protein, was sold at 267,05 €/t, which is also this week’s weighted price. Unlike the previous week, the price was lower by 0,32%. At the end of the week, supplies, depending on the parameters of quality and delivery, ranged from 259,40 to 272,15 €/t. However, at the end of the week, contracts were not realized, due to the lack of demand for this grain. A negative trend was also noticed in Chicago because the weather forecast suggested rain in the areas of winter wheat.

Verica Popov, broker

The week behind us was marked by the rise of corn prices. Total turnover was 3.650 tons, while financial value was 1.121.639,30 €.

Corn was traded at the price range from 225,37 to 233,87 €/t, with a clear bullish trend (+3,77%). The price depended primarily on parity and delivery. It was interesting to follow the movement of prices on foreign markets. It is also known that commodity exchanges react very quickly to geostrategic events (crisis Moscow-Kyiv). Movements noticed on this market in January were relatively expected, after the complete absence of foreign demand in December. The weighted price for this week was 229,62 €/t, which is an increase of 2,95% compared to the previous week.

Unlike the corn market, the wheat market can be said to have been very peaceful. Two prices have been concluded. Wheat with protein 10% and specific mass 76 kg was traded at 261,09 €/t, and wheat with protein at least 11% and specific mass 77 kg at 267,89 €/t. The impression is that there was an increased supply in the second half of the week. The first quantity of wheat crop 2022 was offered at the price of 238,12 €/t, but the demand did not respond adequately. This week’s weight price was 267,89 €/t, which is an increase of 1,03%.

An increased supply marked the soybean market last week, which led to a downward trend. Namely, at the beginning of the week, contracts were concluded at 635,28 €/t, and at the end of the week, the concluded price was 629,33 €/t. The weighted price was 633,24 €/t.

Of the other commodities, nitrogen fertilizers (UREA and AN) were traded. Urea was traded at the price of 865,00 €/t and ammonium nitrate at 725,00 €/t. The nitrogen fertilizer market reacted very quickly to the announcement of potential state intervention. It is to be expected that in the next period, there will be even bigger price corrections. Sunflower meal was traded at a price of 255,13 €/t and feed flour, package 30/1 at 174,34 €/t.

Zlatko Beglerbegović, broker

The rise of corn and soybean prices and the stable price level of wheat were current movements on the market scene of primary agricultural products in the past week. The total turnover amounted to 4.725 tons, while financial value amounted to 1.974.137,30 €.

Corn had an upward trend over the past week. Due to the seller’s restraint, the supply of larger quantities was missing. This cereal had a constant growth during the week, so the price ranged from 221,97 to 223,67 €/t, at FCA parity. At the end of the week, demand at a higher price level than realized did not result in the contract conclusion. At CPT parity, it was traded from 226,22 to 228,77 €/t. Corn with an increased percentage of moisture was traded at a price of 216,87 €/t. The weighted price was 222,99 €/t, which is an increase of 2,48%.

Soybean was the most sought-after commodity on the market. Increased demand from domestic processors and traders, which has been present since the middle of last week, has led to an upward trend of 2,50%. After a long time, larger quantities of this oilseed were concluded from 629,34 to 635,29 €/t, with quality calculation. The weighted price was 633,25 €/t. Compared to the previous data; soybean price increased by 2,56%.

The stable price level was registered on the wheat market. At the beginning of the week, trading was at the price level of 267,89 €/t, and at the end of the week, all contracts were concluded at a price of 263,64 €/t. Price changed compared to the previous week, within only +0,27%. The buyer’s structure consisted of traders, while on the other hand the interest of exporters and domestic processors was not emphasized for purchases. The supply was higher than the demand. The weighted price was 265,17 €/t.

Verica Popov, broker

After the holidays, the augmented activity of commodity exchange participants was noticed. Also, there was a price increase of all primary agricultural products. Total turnover amounted to 4.284 tons, while financial value was 1.278.430,41 €.

Unlike the previous period, where was noticed the lack of demand by domestic exporters and processors, this week brought more interest for this cereal. There was no bigger supply, which led to the price increase. Contracts, at parity FCA, were realized from 216,87 to 220,27 €/t. At parity CPT, the price was 226,22 €/t. Corn with higher moisture was traded from 212,61 to 214,32 €/t. The weighted price was 217,63 €/t, which was an increase of 2,52%.

At the beginning of the week, wheat had a bullish trend. As in corn, the supply lack was noticed. Contracts were concluded from 267,04 to 267,89 €/t. Feed wheat was traded at 259,39 €/t. In the middle of the week, after the USDA report, a negative trend was marked on the European market. The highest influence on price had the increase of area in the USA. At the end of the week, this cereal’s realization was at 263,64 €/t. The weighted price was 264,41 €/t, which is a slight rise of 0,31%.

In the soybean market, intensive demand led to a price increase. As in the previous period, the sellers were reserved. Contracts were realized at a price range from 616,58 to 618,28 €/t. Traded soybean was only with quality calculation. The buyer structure included domestic processors and traders. At the end of the week, demand at higher prices did not result in a contract conclusion. Lower import of this oilseed, which was continued during December, had no impact on price decrease. The weighted price was 617,43 €/t which is an increase of 1,54%.

Russian UREA, package 25/1 was traded at a price of 910,00 €/t, while AN was traded at 715,00 €/t.

Verica Popov, broker

Ahead of the upcoming holidays, there was a reduced activity of trading participants. In addition to reduced activity, a stable price level of all primary agricultural products was recorded. The turnover of only 700 tons is one of the extremely low weekly turnovers recorded at Produktna berza. The financial value amounted to 231.874,86 €.

Corn has maintained a stable price level. Contracts were concluded in a very narrow price range from 211,76 to 212,61 €/t. There was more interest in buying this cereal with the clause “free stock until 31^st January”, than in prompt delivery. The customer’s structure consisted mainly of traders, while on the other hand, the interest of exporters and domestic processors was not emphasized in purchasing. The weighted price for this week was 212,27 €/t. Compared to the same period last year (the price was 159,89 €/t) the price is higher by 32,98%.

On the wheat market, there is a noticeable passivity in relation to the previous period when this cereal was one of the most sought-after commodities. The absence of demand was manifested through one sales contract for wheat with a minimum of 12% protein, which was concluded at 263,64 €/t. This also represents this week’s weighted price, and statistically, a slight increase of 1,07% was recorded compared to the previous data. When we compare the price of this cereal with the same period last year (177,75 €/t), an increase of 48,33% was recorded.

After the recent negative trend, soybeans did not mark significant price oscillations in the past week. The realization was at 608,08 €/t, with the delivery during January. Despite the fact that domestic processors and traders have not shown the need to buy, the supply of larger quantities is still lacking due to the delay of sellers. In a year, this oilseed has risen in price by 37,50%.

Russian UREA, granulated, package 500/1, was traded at the price of 904,80 €/t. Compared to the same period last year and the registered price of 271,98 €/t, the price is higher by 232,68%. AN, package 25/1, at CPT parity, was concluded at 714,04 €/t.

We can state that this year was very turbulent in terms of price developments, which means that we had large price oscillations, which were monitored even on a daily basis, and unexpected. This circumstance is once again an indicator of how unpredictable the market has become.

Verica Popov, broker

As the end of the year approached, the activity of commodity exchange participants was decreasing. The total turnover of this week amounted to 3.380 tons, while financial value amounted to 1.709.678,31 €.

Corn was dominant in trading with a total turnover of 2.350 tons. Regardless of this circumstance, the reduced activity of commodity exchange participants was noticed. Contracts at parity CPT port with delivery until the end of February were concluded at a price of 216,90 €/t, while at parity FCA, they were realized from 214,35 to 216,90 €/t, with the free stock until the end of May. At the end of the week, supply was at a lower price level than realized and demand did not respond.

The downward soybean trend has continued over the past week. The contracts were concluded at a single price of 608,17 €/t, which is also the weighted price. It was traded exclusively with quality calculation. Compared to the previous week, the price changes on average -1,87%. At the end of the week, the interest in buying this oilseed by domestic processors and traders increased. Demand at the price level from 612,42 to 614,12 €/t did not result in the contract conclusion due to lack of supply.

After a sharp drop in prices in the past period, wheat recorded a correction. The realization of the contract ranged from 259,43 to 261,98 €/t, with delivery during January. The reduced supply of this cereal is noticeable. Apart from the domestic one, the growth of prices was recorded on the European and American markets due to unfavorable weather conditions in South America. This trend was also observed in the Black Sea basin, following other markets, while export activity slowed down slightly at the end of the year. In Russia, uncertainty over export quotas remains. Millers in Ukraine are asking for a restriction on exports in the second part of the season, while the association of grain producers is against it.

Russian UREA, package 500/1 was traded at 880,00 €/t while UREA package 25/1 was traded at 893,00 €/t.

Verica Popov, broker

The passive market and price fall of all primary agricultural products marked last week at Produktna berza. The total turnover was 1.375 tons. As the end of the year approaches, there has been a decrease in the activity of commodity exchange participants. The financial value amounted to 617.449,26 €.

Due to reduced demand from exporters and domestic processors, corn has maintained a downward trend. Apart from the domestic one, this trend was completely correlated to the international market as well. What characterized the price is the constant change from day to day, which basically followed the world’s trends. Good supply and falling prices were the cause of reduced activity for this grain purchase. On the first day in the week, the corn supply was at a price level of 221,11 €/t. The contract was concluded at 216,01 €/t, which is also this week’s weighted price. Compared to the previous comparative data, a decrease of 2,07% was recorded. What gives the right to the initial statement is the fact that the supply at the very end of the week was much lower (212,61 €/t, with free stock until January/February), but even such did not have an adequate response on the demand side. At this price change, the corn market is still on a downward trend, and this was the main reason for the withdrawal of customers. FOB prices were still unacceptable and are still in the zone of the unprofitability of the export calculation.

The fact that wheat is losing its market position is best shown by the fact that the price has dropped by 3.32% compared to the previous week, and thus the turnover has decreased. A very sharp drop in the prices of this grain was also recorded in Chicago due to the lack of competitiveness of American commodities, as well as sales by funds. Purchase and sale contracts, depending on the quality, are concluded from 259,38 to 266,18 €/t, with a clear tendency for the price to fall. The customer structure consisted mainly of merchants and millers. While on the other hand, the interest of exporters was not emphasized in the purchase. The weighted price was 263,12 €/t.

In the soybean market, last week only confirmed that a negative trend has been present for a long time. Weak demand and lower imports of this oilseed in the previous month influenced the formation of the domestic price. At the beginning of the week, it was traded at the price of 620,81 €/t, with the takeover of commodities during December, and at the end of the week, it was traded at the level of 617,41 €/t. It was traded exclusively without quality calculation. The average price was 619,54 €/t, which is a decrease of 0.34% to the previous comparative data. Despite these circumstances, soybeans still have the best market position on the primary agricultural products scene.

What worries agricultural producers were the prices and supply of nitrogen fertilizers. Russian UREA, granulated, packaging 500/1 was traded at 875,00 €/t.

Verica Popov, broker

Reduced activity of commodity exchange participants and falling prices are current movements on the market at Produktna berza. The total turnover amounted to 4.131 tons, while a financial value amounted to 1.346.024,11 €. Compared to the previous period, the turnover decreased by 15,69%, while the financial value of traded commodities decreased by 13,44%.

The absence of exports and weak demand from domestic processors resulted in a lack of more intensive corn demand. Contracts were concluded in a price range from 212,61 to 221,12 €/t. At parity CPT, the price was 223,67 €/t. During the whole week, a downward trend of this cereal was noticed. The weighted price was 220,61 €/t, which is a decrease of 1,38%.

The price continued to fall for the second week in a row, on the wheat market. Wheat with a minimum of 12,5% protein for prompt delivery was traded at 272,14 €/t. The contract for January delivery was concluded at 267,89 €/t. At the end of the week, the complete absence of supply and demand at a lower price level than the realized ones did not result in the conclusion of a contract. Compared to the previous week, the wheat price decreased by 1,31%. A downward trend was also noticed on the international market.

Soybean, even in the period of passivity, finds its place on the market, which has been volatile in the last period. The low demand has led this oilseed to record a negative price trend of 1,88%. Realization ranged from 620,83 to 625,08 €/t. The weighted price was 621,68 €/t.

Feed barley was traded at a price of 239,83 €/t.

Russian urea, 25/1, was traded at 880,00 €/t, while contracts for package 500/1 were concluded from 860,00 to 875,00 €/t. There was a greater interest in buying nitrogen fertilizers.

Russian an, package 25/1, was traded at 670,00 €/t.

Verica Popov, broker