The week behind us was marked by the rise of corn prices. Total turnover was 3.650 tons, while financial value was 1.121.639,30 €.
Corn was traded at the price range from 225,37 to 233,87 €/t, with a clear bullish trend (+3,77%). The price depended primarily on parity and delivery. It was interesting to follow the movement of prices on foreign markets. It is also known that commodity exchanges react very quickly to geostrategic events (crisis Moscow-Kyiv). Movements noticed on this market in January were relatively expected, after the complete absence of foreign demand in December. The weighted price for this week was 229,62 €/t, which is an increase of 2,95% compared to the previous week.
Unlike the corn market, the wheat market can be said to have been very peaceful. Two prices have been concluded. Wheat with protein 10% and specific mass 76 kg was traded at 261,09 €/t, and wheat with protein at least 11% and specific mass 77 kg at 267,89 €/t. The impression is that there was an increased supply in the second half of the week. The first quantity of wheat crop 2022 was offered at the price of 238,12 €/t, but the demand did not respond adequately. This week’s weight price was 267,89 €/t, which is an increase of 1,03%.
An increased supply marked the soybean market last week, which led to a downward trend. Namely, at the beginning of the week, contracts were concluded at 635,28 €/t, and at the end of the week, the concluded price was 629,33 €/t. The weighted price was 633,24 €/t.
Of the other commodities, nitrogen fertilizers (UREA and AN) were traded. Urea was traded at the price of 865,00 €/t and ammonium nitrate at 725,00 €/t. The nitrogen fertilizer market reacted very quickly to the announcement of potential state intervention. It is to be expected that in the next period, there will be even bigger price corrections. Sunflower meal was traded at a price of 255,13 €/t and feed flour, package 30/1 at 174,34 €/t.
Zlatko Beglerbegović, broker