Last week at Produktna berza marked price increase of corn and wheat, while soybean marked negative price trend. Total turnover was 4.700,52 tons of commodities (-31,38%), while financial value was 1.392.387,12 € (-36,99%).
At the beginning of the week, there was a reduced activity of commodity exchange participants in buying corn. However, in the middle of the week, there was a more intensive demand for this cereal, which affected the positive price trend. Purchase contracts were realized in the price range from 221,12 to 225,37 €/t, with a clause “free stock” November/December. Corn with an increased percentage of moisture was traded from 214,32 to 219,42 €/t. The weighted price for SRPS quality was 223,84 €/t, which is an increase of 0,21% compared to the previous comparative period.
Wheat was the most sought-after commodity. In the European market, the wheat price rose at the beginning of the week, with international demand as the main stimulus. At Euronext, such a price level has not been seen since 2008. In the American market, in Chicago, the price reached a nine-year maximum. The price trend was correlated with movements on the domestic market, where price rose by 2,78%. Contracts for parity FCA were concluded in the price range from 263,64 to 267,90 €/t, or 269,60 €/t for parity CPT. The average trading price for this week was 264,92 €/t.
Unlike the cereals, which recorded an increase, soybeans had a bearish price trend of 2,13%. On the domestic market, the absence of more intensive demand for his oilseed was still noticeable. Regardless of this price trend, the offer of larger quantities was missing. Contracts were concluded from 629,34 to 642,10 €/t, with a clear tendency for prices to fall throughout the week. The weighted price was 632,15 €/t.
Feed barley, SRPS quality, was traded at a single price of 239,83 €/t, which is an increase of 3,61%.
What additionally worries agricultural producers are the prices of fertilizers. One of the more important news from foreign markets is that from December, Russia plans to introduce six-month quotas on the export of some fertilizers to ensure domestic supply and to limit costs for farmers, because the energy crisis has led to a jump in prices. Due to the increase in the price of gas, production costs increased, and the prices of nitrogen fertilizers in the world increased. That threatens to reduce the yield next year and accelerate the global growth of food prices. In the coming period, it remains for us to closely monitor developments in both foreign and domestic markets.
Verica Popov, broker