The purchase prices for corn this week increased by $5-10/t to $130-135/t with delivery to Black Sea ports and $140-145/t with delivery to Danube ports. It happened against the background of increased movement of vessels to the Black Sea ports and a decrease in freight rates by $5-10/t.
Despite the high yield and low humidity of corn, farmers hold back sales in anticipation of higher prices.
Ukraine has already harvested 13.32 million tons of corn from 1.95 million hectares or 48% of the area with a yield of 6.84 tons/ha. This allows to hope for a harvest in the range of 29-30 million tons.
However, export rates remain low, and during July-October only 3.8 million tons of corn went for export. This is almost twice less compared to 7.14 million tons last year.