According to APK-Inform, the prices of Ukrainian corn have started growing in ports at the beginning of the current week after some decrease at the end of the last week.
“The upward trend is based on reserved farmers’ selling and preceding increase of FOB prices supported by the development of CBOT and Euronext, higher prices of crude oil and concerns regarding corn crop in South America. However, the official completion of corn harvesting in Ukraine (29.8 mln tonnes harvested by December 14) and lower demand from the key importers (mainly the EU) offset the supporting factors. The upward revision of European corn crop estimation and downward adjustment to EU import prospects to 19 mln tonnes (-2 mln tonnes) pressured Ukrainian prices as well”, - the head of the local markets department of APK-Inform, Anna Tanskaya commented.
As of December 21, many traders raised their bid prices of corn by 50-100 UAH/t to 7100-7300 UAH/t CPT-port.
The bid prices in dollar terms increased by 2-5 USD/t to 214-218 USD/t UAH CPT-port. Only separate traders set their prices at 212 USD/t CPT-port.
