Ukraine: export prices of new crop corn became significantly lower than last year, and continued declining — APK-Inform

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APK-Inform

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According to APK-Inform figures, last week the Ukrainian export market of grains (СРТ-port) faced the downward trend of bid prices of corn of the harvest-2019. The bearish trend developed, due to the similar global market conditions, as well as situation in the neighbouring market segments. Reduction of the trading rates of old crop corn and the low rates of conclusion of foreign economic contracts for the supply of the new crop grain provided the additional pressure on the price situation in the market segment.

As of August 30, the bid prices of feed corn of the harvest-2019 in the seaports of Ukraine mainly varied within 145-149 USD/t CPT-port, and only in single cases reached the level of 151 USD/t on the same terms. Thus, if in early August 2019 the bid prices of feed corn of the harvest-2019 with delivery in October-November mainly varied within the range of 156-162 USD/t CPT-port, then in the middle of the month, under pressure of the global market trends, the prices decreased to 151-154 USD/t CPT-port with delivery in September-October, and often varied within 147-148 USD/t CPT-port with November delivery.

As a reminder, in the beginning of August 2018 the bid prices of new crop corn with delivery in November were announced at the level of 186 USD/t CPT-port, and delivery in December — 188 USD/t CPT-port. The second half of the month demonstrated the seasonal decline of prices, due to the expected absolute record for production of the grain in Ukraine. So, if in the middle of August 2018 the bid prices of new crop feed corn with delivery in September-October reached 179 USD/t CPT-port, then at the end of the month in most cases they varied within 159-166 USD/t CPT-port.

Taking into account the prospects of production of the second largest harvest volumes of corn in Ukraine in the whole contemporary history, in 2019 such low prices can contribute to improving of the competitiveness of the Ukrainian grain on the global market and expanding of its export geography. Lebanon is one of the most perspective markets for the grain supplies. In the current season, the country started demonstrating the active interest in corn purchases, and significantly increased the import volumes, said the Head of the grain market department at APK-Inform Agency, Anna Tanskaya.

You can become acquainted with more detailed information about the export prospects of Ukrainian grains and by-products to Lebanon and other MENA countries within frames of the international conference "Middle East Grains&Oils Congress: Beirut edition", to be held in Beirut, Lebanon (Crowne Plaza Hotels&Resorts), on September 18-19, 2019.

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