Corn rise in prices in the ports of Ukraine, despite the excess volumes inside the country. Last week, there was a slight increase in indicators of Ukrainian feed corn on the prices of traders in seaports.
Supporting Factors:
The key support for prices, despite the excess stocks at home, was provided by the constant demand of EU importers. Another factor is also the restraint of sales by farmers and the slow pace of harvesting. There is still quite a lot of corn left in the fields of Ukraine. It is difficult to predict the possibilities of overwintering in the fields and how this will affect quality indicators.
Also, the growth in prices was facilitated by the prospects for a reduction in the sown area under the 2023 harvest crop. Farmers have many problems against the background of growing costs of all crops without exception.
Restraining factors:
The main counterargument to the price increase is a noticeable reduction in the rate of exports along the “grain corridor”.
During January 1-20, 52 ships with 1.97 million tons of agricultural products left the ports, while in 20 days of December – 66 ships with 2.17 million tons. In general, in the first half of January, the number of vessel departures from ports decreased to 2.6 per day, which is one of the lowest figures since the start of the “grain corridor” operation. Some concern among market players was caused by the intention to expand the “grain agreement”, including the supply of steel to support the country’s economy. At the current pace of inspections, it may lead to an even greater reduction in the pace of agricultural exports.
Prices indications:
Thus, indicative offer prices for feed corn for delivery in February from the Black Sea ports on FOB basis increased from 250-275 to 255-275 USD/t.
At the same time, the purchase prices of traders for this crop in the ports of Odesa and the Danube reached 195-220 USD/t CPT-port. Only a few grain trading companies fixed lower prices, however, only a few grain trading companies were ready to buy at maximum prices.
Import/Export Statistics
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