According to APK-Inform, the export prices of Russian corn have been decreasing during the last month.
The prices are pressured by the seasonal factor amid expected record production. Farmers are providing sufficient number of offers, as they are worry that the prices will decrease further. Partially, corn has high moisture content, so it cannot be stored for a long time. At the same time, export pace and demand from importers are quite low amid competition from Ukraine that are weighting on the prices as well.
As of November 9, the offer prices of corn for delivery in November-December totaled 272-290 USD/t FOB deep-sea ports, down by 30-32 USD/t compared to the month ago level.
Follow our newswire to stay informed about further development of Russian grain market. More detailed information is available for those subscribed at our weekly reports.
