During the week behind us, there was an increased activity of commodity exchange participants compared to the previous week. The main reason is the jump in the wheat price, which was the most sought-after commodity. The total turnover amounted to 3.267 tons, which was 243,92% more than the previous week, while the financial value of traded commodities was higher by 249,58%.

In the structure of turnover, the dominant place was occupied by wheat with a total turnover of 2.657 tons. At the beginning of the week, wheat was the primary agricultural product that had the most upward trend in Chicago. Developments on the international market and the influence of prices in the world, as well as internal factors on the domestic market, have led to this cereal recording a positive price trend. Purchase contracts for spot delivery, depending on the quality of the commodities, ranged in a very wide price range from 165,88€/t to 175,23€/t. The biggest interest was in the purchase of wheat, with the clause “free stock” until 30th September, and all contracts were concluded at a price of 178,64. Compared to the previous week, the price is higher by 1,41%. At the end of the week, the market calmed down and supply increased in relation to demand.

The corn market is calmer compared to the previous period. The complete absence of export demand for this grain led to a price drop of 1,16%. This is evidenced by the fact that one contract was concluded at a price of 216,92€/t, which is also this week’s weighted price. Until the end of the week, the offer ranged in the price range from 215,21€/t to 221,17€/t, depending on the speed of the takeover.

In the case of soybeans, the price drop was the most conspicuous. This trend has been very noticeable in the past week. Contracts were concluded in the price range from 603,96€/t to 608,22€/t, with a clear tendency of a negative trend. Compared to the previous comparative data, the price is lower by 4,62%. Regardless of the downward trend, unlike the previous two months where there was complete passivity in the market, this week brought changes in the form of more conspicuous demand for this oilseed.

Rapeseed, at parity FCA Bačka, SRPS quality with quality calculation, was traded at the price of 512,00€/t.

Verica Popov, broker

Last week on Produktna berza was characterized by an increase in turnover. The total turnover for this week amounted to 6.213 tons of commodities, which financial value amounted to 1.532.706,45€.

Although the largest volume primacy of the total turnover on the commodity exchange market refers to the new crop of wheat, we can state that the market has not yet opened in accordance with the demand needs. The wheat harvest in Vojvodina is coming to an end, which further increases the pressure on the supply side. Depending on the quality and takeover speed, contracts were concluded in a wide price range from 165,86 to 178,62€/t. The weighted price was 173,01€/t.

At the beginning of the week, corn price increased, but at the end of the week, a decrease was recorded. The trading started at a price of 221,15€/t to 223,71€/t, with a takeover during July. At the end of the week, corn realization with clause “free stock” until 31^st July/10^th August, was in a very narrow price range from 218,60€/t to 219,45€/t. Price on the domestic market has followed worldwide trends. The weighted price was 220,47€/t. Regardless of the fact that a downward trend was recorded at the end of the week, this cereal price is higher by 3,55%.

On the soybean market, there is a noticeable lack of demand, which was manifested through one concluded contract in the amount of 100 tons at a price of 633,69€/t. Compared to the previous week, a decrease of 0,27% was recorded. What worries agricultural producers the most is the current condition of crops due to unfavorable weather conditions, i.e., lack of precipitation.

Feed barley has been constantly present on the market since the beginning of the harvest. The contracts were concluded in the price range from 165,44€/t to 167,57€/t. The weighted price was 166,89€/t, which is a decrease of 0,93%. We can state that this cereal has maintained a stable price level in relation to the previous comparative data.

Rapeseed continues to show volatility. At the beginning of the week, the price weakened significantly, and at the end of the week, this oilseed had an upward trend, which benefited from the increase in the price of canola. The threat of a disappointing gender in Canada has supported the market for a new crop. Realization through Produktna berza ranged at the price level of 512,00€/t to 515,00€/t.

The first concluded contracts for wheat crop 2021, the rise in the price of barley and rapeseed marked this week on Produktna berza. The total turnover amounted to 2.774 tons of commodities, whose financial value amounted to 727.497,20€.

The wheat harvest has begun. The biggest interest was in buying this cereal. The first contracts for the crop 2021, with a minimum of 12% protein and a clause “free stock” until 31st July, were concluded in the price range from 176,92€/t to 178,62€/t. When we compare the wheat price in the same period last year (148,85€/t) an increase of 19,43% was recorded. The absence of demand for last year’s wheat is noticeable on the domestic market and the supply is at the price level of 204,14€/t.

At the very beginning of the week, there was no demand for corn. After the release of data on sown areas and the stock size on Wednesday, prices rise in Chicago. On the domestic market was an increased demand, after the strong growth recorded since the middle of the week. The contracts were realized in the price range from 212,65€/t to 214,35€/t with the takeover of commodities during July. However, on the last day of this week, demand at a higher price level than realized did not result in the conclusion of a contract. The weighted price was 212,90€/t.

On the soybean market, without significant changes, complete passivity continues. During the past week, no sales contract was registered, due to lack of demand.

At the beginning of the week, the barley price increased. The contracts were realized in a very narrow price range from 171,82€/t to 172,67€/t. At the end of the week, barley had a downward trend and trading was at the level of 165,86€/t to 166,71€/t. Compared to the previous week, an increase of 1,99% was recorded.

In the foreign market, rapeseed has shown strong growth since the beginning of the week, which has been reflected on the domestic market. Rapeseed prices are recovering from the recent downward trend supported by the situation with Canadian canola. At the end of the week at Euronext, rapeseed was favored by buyers, the contract approached the highest level from June. The contract on the CPT parity was realized at the price of 512€/t.

The first contract for barley in 2021, the fall in the prices of primary agricultural products of corn and soybeans, marked this week on the Commodity Exchange. The total turnover through amounted to 3,610 tons of commodities, whose financial value amounted to 115,993,500.00 dinars.

The barley harvest is in progress. Given the weather, we expect it to be completed next week. Field reports say that the yields are satisfactory (from 5 to 8 t/ha), with good quality. The first contracts were concluded in the price range from 166.71 to 170.12 €/t without VAT. The weighted price was 168,42 €/t without VAT. When we compare the price of this cereal with the same period last year (124,19 €/t without VAT), an increase of 35.62% was recorded.

Unlike the previous week, where no sales contract was realized, this week corn was the most dominant commodity exchange product with a total turnover of 2,960 tons. Commodity exchange contracts at FCA parity for prompt delivery were concluded in the price range from 212.65 to 214.35 €/t without VAT, while corn, with the clause “free stock” until August 31, was traded at prices from 216.90 €/t without VAT. The weighted price was 213.58 €/t without VAT, which is a decrease of 3.51%.

Soybeans, like corn, recorded a negative price trend last week on the organized market. All sales contracts were realized at a single price of 635.39 €/t without VAT. Compared to the previous comparative data, a slight decrease of 0.40% was recorded. However, at the end of the week, offers at a lower price level than the realized ones did not result in the conclusion of a commodity exchange contract due to the complete absence of demand for this oilseed.

The contract for wheat with a minimum specific weight of 77 kg/hl was concluded at a price of 208,39 €/t without VAT. The absence of supply is noticeable on the domestic market, which has influenced this cereal to have an upward trend of 2.08%. On the demand side, more activity was shown by domestic processors and millers. The harvest of the new crop of wheat is expected to begin in early July. Forward demand at parity FCA Vojvodina, with the delivery of commodity in harvest, was at the price level of 170.00 €/t.

The purchase contract for rapeseed, with the planned delivery of goods during this week at the parity of FCA, was registered at a price of 480.00 €/t.

The passive market, corn downward trend, wheat price increase and soybean stagnation characterize the current movements on the primary agricultural products market scene in the past week on the commodity market. The turnover of only 505 tons is one of the extremely low weekly turnovers recorded on Produktna berza. The financial value was 330.924,50€.

Unlike the previous period, when corn was the dominant culture in trading, during the past week, no sales contract was realized. The corn market fell sharply following Chicago. Improved weather conditions put pressure on prices, as the rain was recorded in the US corn belt for several days. What characterized the price on the domestic market, is the constant change from day to day, which basically followed the world trends. The fall in the price of this cereal was the cause of reduced activity of exporters and traders. On the first day of the week, the offer was at the price level of 221,15€/t and higher. What gives the right to the initial statement is the circumstance that the offers at the very end of the week were much lower (about 212,64€/t), but even such offers did not have an appropriate response on the demand side. The corn market still has a downward trend and that is the main reason for withdrawing customers from the market.

Soybean finds its place on the commodity exchange market even in the period of complete market passivity. Considering that during this economic year we had an extreme year from the aspect of price movements in the form of conspicuous price rises or falls, we can state that this oilseed has maintained a stable level for the third week in a row. The commodity exchange contracts at FCA parity were concluded at a price of 637,93€/t or 644,74€/t at CPT parity. The weighted price was 637,93€/t.

Wheat recorded a bullish trend. The harvest of the crop 2021 is expected to begin in two weeks and a price rise of last year’s crop was not expected. Weak supply was the reason for more intensive demand for purchases from millers, domestic processors and exporters. The consequence of this circumstance is the high price of 204,14€/t, which was registered during this week, which is an increase of 4,58%. Compared to the same period last year (153,10€/t) is an increase of 33,33% was recorded.

The barley harvest is expected to begin next week. Demand ranged in the price range from 157,36€/t to 161,61€/t. However, there were no such offers. It is to be expected that next week, when the harvest intensifies, will bring an acceptable price level for both sellers and buyers.

The rapeseed fell sharply. This decline is in line with the fall in the prices of other oils on the world market, such as palm and soybean. Canola prices have also weakened in Canada in the context of partially improved weather conditions in the south of the country.

Reduced activity of commodity exchange participants, a first forward contract for rapeseed and a slight drop in the price of corn marked the past week on the Produktna berza. The total turnover for this week amounted to 2,248 tons of goods (-51.50%), whose financial value amounted to 975,093.27 € (-14.33%).

During the week, corn had a slight increase, and then a drop in price. Commodity exchange trading started with the price from 223.71 €/t (FCA) to 225.41 €/t (CPT), but at the end of the week the registered price was 221,16 €/t without VAT. This price trend is completely correlated with developments in the reference world and regional markets. The weighted price was 221,33 €/t without VAT which is a decrease of 0.51%. When we compare the price of this cereal with the same period last year, an increase of 66.67% was recorded.

Soybeans were traded in the price range from 637,96 to 663,48 €/t without VAT. While passivity is still present on the domestic market, we can state that this oilseed does not record a further price drop, which was very pronounced in the previous month. How much soy is in its high market position is best shown by the data in relation to exactly a year ago, where an increase of 80.95% was recorded. This economic year for this oilseed can be characterized as the year with the best financial effect and the most profitable culture.

We are registering price stability on the wheat market. Commodity exchange contracts were concluded in the price range from 194,79 €/t to 195,64 €/t without VAT. Price changes, compared to the previous week, were in the range of only -0.38 percent. At the end of the week, the interest in wheat by domestic millers and processors increased. The harvest of the new crop of wheat is expected at the end of June, and now all activities are subordinated to the harvest campaign. Forward demand at the parity of the CPT port with the delivery of goods in the harvest, was at a price level of 185.00 €/t.

At the beginning of the week, the price of rapeseed continued to rise, following soybean oil and canola on foreign exchanges. Purchase contract for rapeseed, with a clause of 10% advance payment, with scheduled delivery of goods from 15.06. to 20.07.2021 at the parity of the CPT South Backa, was registered in the amount of 1,000 tons at a price of 525.00 €/t. At the end of the week, the price was lowered, following the palm and canola in Canada, as a result of the recent rains in the south of that country.

Unstable market marked the last week on Produktna berza. Corn recovered after last week’s drop, soybean continued to decrease, while the wheat recorded a slight increase. Total turnover for this week was 4.635 tons of commodities, which financial value was 1.138.169,35€.

After last week’s bearish movement, corn recovered due to increased export demand. Weather conditions, primarily on the American market, influenced a positive price movement, with a clear upward trend. Corn was traded in the price range from 216,90€/t to 223,70€/t. The weighted price was 222,51€/t, which represents an increase of 2,97%.

Due to increased demand, wheat recorded a positive price trend. Wheat buyers, besides the exporters, were feed processors and millers. Contracts for wheat were concluded in a very narrow price range from 195,63€/t to 196,48€/t. The weighted price was 195,97€/t, and compared to the previous week, the price is higher by 1,97%.
It is interesting to note that the forward prices of corn and wheat equalized at the level of 185,00€/t, at the parity of CPT Danube port.

After the last week’s strong decrease, this week, soybean continued to a downward trend. This fall in the price is the consequence of movements on foreign markets. The demand absence for this oilseed has constantly pushed the price down. Soybean was traded in the price range from 638,78€/t to 646,43€/t, with a clear downward trend. The weighted price this week is 642,60€/t. Compared to the previous data, the price is lower by 1,88%.

The forward demand for rapeseed at the parity of Vojvodina with the delivery of commodities in the harvest was at a price level of 500,00€/t. However, no contracts were concluded.

On the market, at the beginning of the week, all commodities prices had a downward trend, with the most prominent soybean price fall of 10%. Total turnover for this week was 3.025 tons of commodities, which financial value was 894.412,33€.

Corn market during the last week was turbulent, it marked a downward price trend at the beginning of the week. What characterized the price on the domestic market is the constant daily oscillation, which basically followed the trends of world trends. At the beginning of the week, corn was traded at the price of 221,13€/t and at the end of the week, trading was in the price range from 210,07€/t to 216,88€/t. The weighted price was 216,03€/t, which is a decrease of 3,80%.

In the case of soybean, the fall in prices was most prominent. This trend has been very noticeable in the past week. As with corn, so with soybean, world trends have an impact, but the price drop was influenced more by an internal factor. The complete absence of demand for the third week in a row, led to the fact that this oilseed recorded a sharp drop of 9,94% compared to the previous comparative data. Contracts were concluded at the price of 654,88€/t. However, at the end of the week, the supply was at a lower level than concluded. Compared to the same period last year, the price is higher by 85,10%. Forward demand for soybean at parity FCA Vojvodina ranged from 481,00€/t to 490,00€/t. However, due to significant price oscillations, supply is still lacking on the commodity exchange market.

Wheat prices also weakened on both, international and domestic market, and the decline in the prices of this cereal was accompanied by the movement of corn, which remained the leader in the market dynamics. The realization ranged in the price range from 191,36€/t to 193,06€/t, with a prominent tendency to fall.

Rapeseed price also had a bearish trend, but the EU’s balance sheet will remain in large deficit next season.
Rapeseed, the commodity which had the highest volatility in last months, marked drop in the context of higher oil supply and improved weather conditions in Canada. Contracts for delivery in the harvest were concluded from 470,00€/t (FCA Bačka) to 480,00€/t (CPT Bačka).

Sunflower meal with 33% protein was traded at a price of 340,20€/t.
Unlike the domestic market, all commodities price increase shows extreme volatility at international markets last day of this week. That is connected with the intensive activity of financial funds, because the fundamental sheet was not changed.

Market participants lower activity and price decrease of agricultural products, corn, soybean and wheat, marked last week on Produktna berza. Total turnover for this week was 2.550t of commodities, which financial value was 654.657,83€.

After last weeks’ price maximum in the current economic year, the corn price marked price decrease. Movements on the international market, the influence of world trends and prices in the world, as well as internal factors on the domestic market have led to this cereal having a negative price trend. Contracts were concluded in the price range from 221,11€ to 229,62€/t, with a marked tendency of falling prices. The weighted price was 224,51€/t, which represents a decrease of 2,98% in comparison with the previous week. Compared to the same period last year, the price is higher by 62,50%.

The soybean market was calmer compared to the previous period when this oilseed was the sought-after commodity. The complete absence of demand led to a drop in the price, which is shown by the fact that at the beginning of the week one contract was concluded at the price of 724,57€/t with a deferred payment at parity CPT North Bačka. At the end of the week, the offer was at a price level from 710,11€/t to 714,36€/t, for commodity takeover during June. Forward demand for soybean crop 2021 at parity of FCA Vojvodina with the delivery of commodities in the harvest, ranged in a wide price range from 486,00€/t to 505,00€/t. However, the sales contract was not realized. On the European market, despite the context that has been announced as tense for the new crop, the price of oilseeds remains correction subject due to the recent easing of the prices of soybean, canola and palm oil.

Wheat had a downward trend throughout the week. The downward trend observed in the past two weeks has brought wheat prices on Euronext to the level of last month’s prices. The absence of export demand and a good supply of the domestic market have led to the passivity on the domestic market. Contracts were realized in the price range from 197,30€/t to 204,10€/t. The weighted price was 197,90€/t, which is a decrease of 1,39%. In anticipation of the wheat harvest in 2021, there was more interest in forward trading. Demand was at the price level from 170,00€/t to 175,00€/t at parity FCA Vojvodina, while the offer was at a higher price level of 180,00€/t.

Sunflower meal with 33% of protein with takeover until 30th June was traded at a price of 340,17€/t.
Feed barley, SRPS quality, was traded at the price of 199,85€/t.

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.