Ukrainian corn prices down on the export market — APK-Inform

In February 2019, the price of corn in the seaports of Ukraine significantly reduced. The global market environment and decreasing of the interest of the key importers (including the EU and China) in corn purchases, due to rather high prices, became the key factors of price development. Also, the significant decrease of price quotations for the grain on the Chicago Mercantile Exchange, in terms of the high competition rates from the Argentinian grain, made its pressure on the market, declared the Head of the grain market department at APK-Inform Agency, Anna Tanskaya.

According to APK-Inform figures, in late February 2019 the offer prices for feed corn on FOB basis with delivery in February decreased by 6-9 USD/t — to 171-179 USD/t, although in the beginning of the month the offer prices with the same delivery terms often reached 185 USD/t. In turn, the bid prices for corn in CPT-port terms decreased by 450-550 UAH/t — to 4750-5200 UAH/t.

According to preliminary estimations of APK-Inform analysts, since the beginning of 2018/19 MY (October-February) Ukraine exported 14.3 mln tonnes of corn, up 5.8 mln tonnes compared with the same period last season.

Taking into account the fact that the export potential of Ukrainian corn in 2018/19 MY totals 26 mln tonnes, by the end of the season Ukraine will manage to supply nearly 11.7 mln tonnes of the grain on foreign markets. At the same time, Ukrainian traders have to reduce the prices, in order to activate the sales. At the same time, the tender for purchasing of 300 thsd tonnes of corn, which Turkey plans to hold on March 12, will provide some support for corn prices in the short term, A.Tanskaya said.

You will receive more detailed information about the trends of the Ukrainian corn market and prospects of trading between Ukraine, China and the EU, by visiting the XVIII international conference Grain & Maritime Days in Odessa (May 30 - June 1, 2019, Maristella Marine Residence, Odessa).

The Organizing committee provides more detailed information concerning participation, sponsorship, advertising and making a report at the conference:

APK-Inform Agency

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