According to APK-Inform, the export prices of Ukrainian corn have been growing since the beginning of January.
Corn remains the most active export crop that along with the reserved sales by farmers and still ongoing harvesting campaign in Ukraine were the main price supporting factors. As of January 12, 15% of corn area remained unharvested in Ukraine. Despite the intensifying competition from Brazilian grain on the EU market, increased demand from China, to which corn traditionally goes with a premium, contributed to price growth.
The sharp reduction of the world corn production and stocks forecasts by the USDA supported world prices, but its impact on the local market was extremely limited. At the same time, the forecast of corn export from Ukraine was increased by 3 mln tonnes to 20.5 mln tonnes.
Storage capacities are full after a significant reduction in the number of ships arriving at the ports of Great Odesa, and some terminals temporary stopped accepting grain (especially corn) that pressured the prices.
Traders’ prices of corn varied at 180-220 USD/t СРТ-port in the ports of the Danube and Great Odesa.
Demand increased in the port of Constanta. The prices of corn for delivery in January-February totaled 275-280 EUR/t DAP/CIF.
The bid prices of corn for delivery in January-February increased to 210-225 EUR/t DAP Poland border, to 215-230 EUR/t DAP Hungarian and Slovakian borders. They decreased to 210 EUR/t DAP Romanian border.
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