According to APK-Inform, the prices of corn in Ukrainian ports have started to grow since the start of the current week after decline of prices observed from late January.
“The are were supported by reserved farmers’ selling, some growth of crude oil prices and uncertainties about corn and soybean crops in Southern America. Some analysts raise their forecast of coming crops amid sufficient precipitation and better conditions of crops. However, some experts say rains came too late and they lower their forecasts due to significant delay of planting and harvesting of corn in Brazil, despite completion of corn planting in Argentina. At the same time, USDA raised their forecast of global production, export and stocks this season that would further strengthen the competition,” - the head of the local markets department of APK-Inform, Anna Tanskaya explained.
The purchasing prices of corn declined by 400-600 UAH/t to 7900-8200 UAH/t CPT-port since the late January. After that, this week, the prices have been growing and have reached 8150-8450 UAH/t CPT-port as of February 18.
The bid prices increased by 3-7 USD/t to 245-254 USD/t CPT-port.
Only separate traders set the minimal prices.
“At the same time, the demand from importers remains moderate. Competitiveness of Ukrainian corn is low. Weak demand from the EU this season adds pressure on the prices. USDA cut their forecast of corn import to the EU by 2.5 mln tonnes. Besides, the demand from China declined due to long holidays”, - A.Tanskaya said.
