ODESA: The lack of active demand for corn from China and others increases the pressure on prices.
No significant price fluctuations will be observed until the actual supply of food corn appears on the market. In Ukraine, prices for corn of the new harvest remain in ports at the same level as an old crop as active forward sales support them. This week the purchasing prices in main ports returned to the level 240-245 $/T.
The Ministry of Agriculture of Ukraine announced its forecast for corn production at a level of 37.1 million tons. However, the latest USDA forecast was 39 million tons. Activity in the Ukrainian market remains low.