A strong increase in the primary agricultural product prices was recorded on the domestic market. Corn and soybean prices reached an eight-year high last week. The upward price trend is in the context of increasing weather risks for spring crops in the United States (soybean and corn). The total turnover amounted to 6.899t of commodities, which financial value amounted to 2.161.761,49€.
Increased export demand is constantly shifting the corn price in a positive direction. FCA parity contracts with the delivery of commodities in April/May were realized in the price range from 201,57€/t to 212,62€/t, which is an increase of 4,13%. Compared to the same period last year, the price of this cereal is higher by 58,23%.
The growing trend of soybean prices continued during this week. This oilseed experienced strong price oscillations during April, which were monitored daily. Contracts were concluded at 680,39€/t at the beginning of the week, and at the end of the week, it reached a price of 722,92€/t. The weighted price was 705,48€/t. Compared to the previous week, the price is higher by 6,87%, and compared to the same period last year, the price is higher 97,67%.
Unlike the previous period when wheat had lower demand, this week brings changes in terms of higher demand and price increase. Depending on the quality parameters, this cereal was traded in a wide price range from 187,11€/t to 208,37€/t. Compared to the previous week, the price is higher by 7,67%. The prices for crop 2021 continued to grow following the corn in Chicago. This product stays the leader of the cereal market dynamic. Forward demand was at the price level of 172,65€/t with delivery during July on parity FCA Vojvodina. However, supply did not adequately respond to demand.
As far as forward contracts are concerned, the best performance was achieved by rapeseed, still in the context of weak expected yield, very stretched balance sheets and strong oil prices. Demand was at the price level of 460€/t, with a clear tendency of price growth throughout the week.