The indicative FOB offer prices of Ukrainian corn decreased slightly on Ukrainian export market despite possible wintering of large share of corn planting in fields and the lowering of production prospects in the EU, Argentina and SAR, head of local markets department at APK-Inform, Anna Tanskaya said.
According to her, the prices were pressured by growing number of offers and high competition from US and Brazilian origins, as well as overall decrease of import demand.
“Despite the prolongation of the “grain deal”, the demand from importers for sea export remained weak, and port storing capacities are full, as supply dominates over demand and logistics is complicated. However, terminals have resumed operating after blackout and are adjusting to the new reality. Real offers were still lower than the market prices, and importers are waiting for larger discounts. Further delays in ship inspections by Russian inspectors of JCC did not add to optimism and led to larger queues and lower number of ship calls to the ports of Great Odesa as well as increasing demurrage costs”, – A. Tanskaya commented.
Last week, the indicative offer prices of corn decreased by 5 USD/t to 255-275 USD/t FOB Black Sea (December delivery).
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