Prices of corn in Ukrainian ports started declining again

Source

APK-Inform

2684

According to APK-Inform, at the end of the last week, the upward trend observed since mid-February was replaced by the downward one on the market of corn in deep-sea ports of Ukraine.

“The Ukrainian prices were pressured by the decline of corn prices on the global market, particularly on CBOT, amid sharp decrease of ethanol production and lower export of US corn. Moreover, the high prices of Ukrainian corn cut its competitiveness and demand for it on the world market. Preceding growth of prices of crude oil and delay of soybean harvesting/corn planting in Brazil limited the depreciation of Ukrainian corn”, - the head of the local markets department of APK-Inform, Anna Tanskaya commented.

The bid prices of corn set by traders reached 8300-8700 UAH/t СРТ-port at the middle of the last week. They declined to 7900-8550 UAH/t СРТ-port as of February 26.

“Only few traders announced the maximum prices, while the minimal prices sometimes reached 7750 UAH/t СРТ-port. The bid prices in dollar terms decreased significantly as well. Taking into account high potential of corn production in South America, we can expect further depreciation of Ukrainian grain”, - A.Tanskaya said.

More detailed information about the development of Ukrainian corn market you can find at our website in the section “Market”.

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