Concluded forward contracts for corn crop 2021, the stable price level and soybean stagnation marked last week on Produktna berza. Total turnover was 5.100t of commodities, which financial value was 1.300.879,28€. Yesterday’s session was full of movement, especially in Chicago, where the prices ranged between significant increase and decrease at the close. This illustrates the uncertainty affecting traders, regarding the weather situation which seems to be slightly improving in the US but remains very worrying in Brazil.
Corn was quantitatively the dominant crop in trade with a total turnover of 4.100t. The price growth on the international market at the beginning of the week is one of the factors that influenced the movement of prices on the domestic market. Contracts at FCA parity were concluded in the price range from 212,61€/t to 221,12€/t. The end of the week brings a price calming and a higher offer in relation to the demand. The weighted price was 216,35€, which is an increase of 5,45% compared to the previous week. The forward contract for corn crop 2021 at the parity FCA South Bačka was concluded at a price of 179€/t, with the delivery of commodities from 1st October to 15th November 2021.
Soybean, after several weeks of consecutive growth that were monitored daily, recorded price correction. There was no significant pressure on the demand side of the soybean market, which caused the conclusion of one contract at a single price of 724,58€, with deferred payment.
Wheat has maintained a stable price level. The contract was concluded at a price of 204,11€, which is also this week’s weighted price. Unlike last week when this grain was in demand, this week brings changes in the form of reduced export demand and a good supply of millers.
Rapeseed prices continue to show exceptional volatility. After last week’s price maximum, this week saw a slowdown in prices following soybeans and canola, despite the fact that the areas announced by StatCan at the beginning of the week were smaller than expected. The demand was at the price level of 455€/t.
The cold April days are not in favor of agricultural producers, which prevented the timely sowing of most of the planned agricultural crops. In addition to delays, sowing will have to be repeated on some fields due to problems with crop emergence. Farmers expect that the weather conditions will stabilize in the coming period, so that the sowing would have been completed at the optimal time.