Corn prices in ports of Ukraine have started to strengthen and are approaching $150 per ton at the moment. At the same time, corn prices remained unchanged or even decreased in the world markets.
The sudden introduction of new transparent export rules significantly limited the certainty of the functioning of the market at the moment. Exporters expected a number of clarifications regarding the newly introduced procedure. In this way, a technical reason was created for the lack of goods for loading vessels waiting for cargo in the ports.
Already after a Russian missile hit a cargo vessel in Ukrainian port, corn prices experienced some decrease of 10-15 $/t to 135-140 $/t or 126-131 €/t on a CPT basis.
The market of the western border of Ukraine restored the demand for corn. Traders expect farmers to increase the number of deliveries significantly after the New Year.
Wheat prices remained stable but the premium for quality wheat is gradually increasing for delivery in the following months.
World prices may receive support in the coming months in anticipation of an undervalued harvest from Argentina. Harvesting has just begun there. Wheat prices in Ukraine depend entirely on the logistics cost of export chains.
CPT prices to ports Odesa / Pivdenny / Chornomorsk traded in the range of 155-165 $/t or 145-155 €/t depending on the quality and delivery period. Feed wheat remained at the level of 140 $/t or 131 €/t CPT Black Sea ports.