Last week on the Commodity Exchange in Novi Sad brought a drop in turnover compared to the previous one. The total turnover amounted to 1,885 tons. Statistically, the volume turnover is lower by 42.31%, and the value turnover by 36.27%.
Unlike the previous week, the volume of wheat and corn turnover equalized. Wheat was traded in the range of 170,12 to 174,38 €/t, with a clear upward price trend. The very end of the week brought increased demand, which led to a rise in prices. This week’s weighted price is 171,74 €/t, which is 0.47% lower than the previous week. The reason for this price movement can be found, among other things, in unfavorable weather conditions, primarily in France, where the harvest will obviously be delayed in certain regions, which will lead to questionable quality, due to the increased amount of precipitation.
Unlike wheat, the price of corn has a clear downward trend. At the beginning of the week, a contract was concluded at a price of 216,91 €/t, and at the end of the week, sales contracts were concluded at a price of 210,95 €/t. The weighted price for this week is 212,65 €/t, which is less by 1.96% compared to the previous period. This price movement is perhaps surprising, compared to the condition of the crops of this cereal in the fields. On foreign stock exchanges, there was an increase in the price of corn compared to the previous week.
The soybean market was completely passive during the week, so that at the very end of the week the contracts were concluded at the price of 595,43 €/t at the FCA parity and 599,68 €/t at the CPT parity. Considering the soybean prices concluded this week, the price drop can be stated in relation to the previous week. The weighted price is 595,43 €/t, which is a decrease of 1.46%.