Last week, indicators of Ukrainian corn on the basis of FOB Black Sea and traders’ prices in seaports strengthened a bit and this tendency continued.
Higher export rates
Support for the Ukrainian corn prices at the market was provided by higher export rates compared to other crops and a gradual recovery of demand from China after the New Year holidays. Meanwhile, some companies that needed to form large-tonnage volumes for previously concluded contracts and planned vessels had to raise prices on the CPT-port basis. However, the trend was rather limited and situational, so it did not significantly affect the overall price ranges. In addition, traders quickly covered their needs, because, despite some restraint on sales by farmers, corn offers were received in sufficient volume.
Thus, indicative offer prices for feed corn for delivery in February from the Black Sea deep-water ports, having somewhat strengthened, reached 255-280 USD/t FOB.
At the same time, the purchase prices of traders in the ports of Big Odessa and the Danube increased to 190-220 USD/t CPT-port against 190-210 USD/t CPT-port a week earlier.