According to APK-Inform, the bid prices for corn increased in the Ukrainian ports of the Danube (Reni and Izmail) last week.
Stronger demand and the upward trend on the world market amid bullish May WASDE report supported the Ukrainian prices. The USDA forecasted lower production, export and stocks of corn in the world in 2022/23 MY.
The bid prices of corn increased by 10-20 USD/t to 225-250 USD/t CPT-port. The bid prices on the FOB market were mainly announced at 285 USD/t FOB in the ports of Reni and Izmail.
The restriction on transportation of corn toward the port of Reni imposed by Ukrzaliznytsia will cut the trade activity and pressure the prices.
At the same time, the purchasing prices of corn were mainly declining last week in the ports of Romania and Moldova. Overloaded logistics, delays in contract performance high delivery costs weighted on the prices. the bid prices of corn totaled 285-305 USD/t or 275-290 EUR/t for delivery to the port of Constanta, and 245-255 USD/t for delivery to the port of Giurgiulești.
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