Unusually low turnover was noticed at Produktna berza last week. The main reason we see in non-working days, and decreased activity of participants on domestic market. Corn marked a slight downward trend, while soybean and wheat were not traded in the previous week. Total turnover was 620 tons, while financial value was 159.846,34 €.
Corn was the most sought-after commodity. Exporters and traders were most interested in buying this cereal, while the interest of domestic processors was not distinct. Contracts on parity FCA were realized at prices from 227,92 to 233,02 €/t, while on parity CPT was at 233,87 €/t. Corn with augmented moisture was traded at 221,12 €/t. The weighted price for this week was 228,69 €/t. In comparison with the previous week, corn prices fell by 0,42%.
After a long period, soybean was not traded. On the first day of the week, supply was at prices from 634,44 to 637,84 €/t. Due to passivity on the demand side, there were no contract conclusions. The end of the week brought changes in the form of demand at 635,29 €/t, with quality calculation, while supply was at a higher price level. Although there was no statistical data of weighted price, we can state that this oilseed had a stable price level in comparison with the previous period.
At wheat market without significant changes. There is a noticeably augmented supply compared to demand, due to the lower interest of exporters and domestic processors. Exporters on FOB have not been able to fit into domestic prices for a long time, which is the reason for the lack of demand. Buyers from the region are postponing purchases of new quantities. Depending on the quality and clause “free stock”, the supply was at prices from 259,39 to 263,64 €/t. This situation on the domestic market surges a possible price fall. Forward supply of wheat crop 2022 at 238,13 €/t, with delivery during July, did not respond on demand.
The fertilizers prices are falling. On the one hand, UREA supply is increasing and thus there is a negative price trend, while on the other hand, there is an increased interest in buying AN. From the agronomic point of view, it is logical that the demand for AN increases due to the approach of wheat supplementation with this nitrogen formulation.
Verica Popov, broker