Last week, corn prices in Ukraine fell amid declining export demand and global quotations.
Purchasing prices in the Black Sea ports fell by another 4-5 $/t(€3,71-4,64) to 144-150 $/t(€133-139) on CPT basis. However, UAH prices increased by 50-100 UAH/t to 6050-6200 UAH/t due to suppressed sales by agrarians.
Farmers mainly sold soybeans and wheat. Prices for these grains also decreased, but not as much as for corn and sunflower.
World corn prices are falling in anticipation of a new USDA report, from which analysts do not expect significant changes. USDA adjusts its estimates only if there is evidence of production declines. But there may be no confirmation yet.
March corn futures on the Chicago Exchange fell 2.2% over the week to $171/t or €158/t (-37% for the year). This is the lowest level since November 2021.