Despite the “grain deal” extension, the situation in the Ukrainian market remained difficult and intense last week, reported Anna Tanska, Head of Grains and Oilseeds Market with APK-Inform Agency.
"Further sabotage of inspections in the Bosporus by Russian experts of the JCC and the expected entry of South American corn into the global arena limited trade in Ukrainian grain. In particular, Argentina has already started harvesting, while Brazil has almost caught up with planting and is preparing for a record harvest that could exceed the previous record by a quarter. However, some recovery of global corn futures against the background of China's purchase of a large batch of corn from the USA and the emergence of Chinese demand for Ukrainian grain somewhat supported prices in Ukrainian ports. During the past week, the local market was in an ambiguous situation," the expert commented on the situation.
She also added that, in general, the extension of the "agreement" contributed to the recovery of trade in deep-sea ports, but did not provide significant support to prices, because the activity remains limited by the number of ship calls to the ports of Great Odesa, and the current demand was covered quite quickly thanks to the active supply of offers from the farmers, which need working capital for spring fieldwork and planting of spring crops.
Thus, in the reporting period, the bi prices for feed corn in Ukrainian ports were 190-200 USD/t CPT-port, which is slightly lower week-on-week.