2022 #14 (11.04.-15.04.)

During this week, an upward trend in all primary agricultural products was recorded. The price of soybeans has reached a new price maximum in the current economic year, and the first futures contract for this oilseed has been concluded. The total turnover through the Commodity Exchange amounted to 3,885 tons (+135.46%), whose financial value amounted to 163,336,910.00 dinars (+115.22%).


The beginning of spring sowing in Serbia is in progress. Considering that the previous cold days of April did not go to the advantage of agricultural producers, which prevented the timely sowing, we can say that the spring sowing in 2022 began at the optimal time. What additionally worries agricultural producers is the surface moisture of the land, which is significantly lower than a year earlier. Sowing of primary agricultural products per hectare will be more expensive this spring, especially for corn, due to the high prices of raw materials. On the other hand, sowing is marked by the high price of cereals and oilseeds on the domestic market.


Soybeans recorded a positive price trend compared to the previous week. Stock exchange contracts were concluded in the price range from 705.32 to 709.57 €/t. Due to the restraint of sellers, a weak offer was recorded. Unlike the previous period, where the structure of buyers consisted of domestic processors and traders, this week, exporters also showed interest in buying this oilseed. The weighted price is 706.00 €/t, which is a new price maximum in the current economic year. Compared to the previous comparative data, soybeans increased in price by 0.91%. This price level was also recorded in the previous year in April when this oil plant had a strong increase in prices, which was monitored even on a daily basis. Statistically, from the beginning to the middle of April last year, it recorded a price increase of 17.06%, while for the same period this year the growth is 1.83%. Regardless of the fact that soybeans recorded price oscillations in the previous period, it remains to be seen whether the price trend of the crop 2021 will reach the historical maximum of the crop 2020 price of 726.56 €/t, which is registered on the commodity market.

The first term offer of soybeans in 2022 in the amount of 150 tons, with the delivery of goods from September 15 to October 5, was realized at a price level of 640.00 €/t. Given that the price is above expectations, it is now up to the farmers to decide whether to sell part of the future crop.

The corn market is without significant changes compared to the previous period. Demand for this cereal is still low. The reason for this circumstance is the temporary export ban, which has been in force since March 10. Domestic processors and traders are on the side of buyers, while exporters are not interested in new sales contracts. Corn for prompt delivery was traded at a single price of 280.43 €/t, which is also this week’s weighted price and a slight increase of 0.79%. Contracts for this grain with a high percentage of moisture were realized in the price range from 270.23 to 271.93 €/t.

In the case of wheat, passivity on the part of buyers was noticed until Wednesday. There was a noticeable increase in supply compared to demand. In the middle of the week, the market was more active, and contracts, depending on the quality parameters, were concluded at a price level of 301.67 to 305.92 €/t. The weighted price for this week is 305.33 €/t. Compared to the data from the previous week, this cereal rose by 2.41%. Although statistically the highest price increase was recorded for this cereal, we can state that there is still no greater interest in buying due to the ban on the export of wheat and flour.

Sunflower meal with 33% protein, was sold for 369.65 €/t, which indicates a price drop. The contract for fodder flour, packing 30/1, was realized for 186.95 €/t.

Depending on the weather, the harvest of a new crop of oilseed rape is expected to begin in two months.

The forward demand for this oilseed ranged from 800.00 to 810.00 €/t. However, the offer is still missing.


Verica Popov, broker

Scroll to top