Trading activity at the Product Exchange Novi Sad has seen a decline, indicating a broader imbalance in supply and demand within Serbia’s agricultural markets. Wheat and corn continue to dominate trading volumes; however, overall participation from buyers has diminished.
The market is characterized by limited purchasing interest, with transactions occurring in smaller quantities compared to previous periods. This trend suggests a cautious approach among processors and traders, likely driven by expectations regarding prices and inventory management ahead of the upcoming agricultural cycle.
Corn trading highlights this disparity most significantly. Supply has increased substantially, with offerings presented across a wide price range influenced by delivery conditions and quality factors, including aflatoxin testing. Contracts were finalized between RSD 22.10 and RSD 22.50 per kilogram, resulting in a weighted average price of RSD 22.30/kg, which reflects a week-on-week decrease of 1.33%.
Similarly, the wheat market exhibited comparable trends. Supply outstripped demand, leading to reduced buyer interest relative to previous weeks. Wheat with a protein content of 12% was traded at approximately RSD 21.20/kg, showing only a marginal increase of 0.21% week-on-week before demand weakened further towards the end of the trading period, effectively halting additional transactions.
Inactivity was even more notable among other agricultural commodities. Soybean trading did not materialize despite price reductions on the supply side, as buyers continued to offer below seller expectations. Offers for barley largely went unanswered, indicating a broader lack of market engagement beyond the primary grain segments.
The prevailing situation reflects supply-driven pricing pressure in a market characterized by low liquidity. An abundance of key crops combined with restrained demand is pushing prices into a narrow downward trend, particularly for corn.
From a wider market perspective, the current trading patterns indicate a transitional phase. Agricultural producers appear willing to sell larger volumes, while buyers are hesitant, possibly anticipating further price adjustments or clearer indications from export markets and regional demands.
The recent activity on the Novi Sad exchange illustrates more than just temporary fluctuations; it highlights an evolving structural condition evident across regional commodity markets where price discovery is increasingly influenced by demand uncertainty rather than scarcity, with liquidity becoming a critical limiting factor.
