Purchase prices for corn in the ports of Ukraine last week decreased by $2-4/t to $200-205/t or UAH 7500-7600/t due to a stoppage of acceptance due to power outages.
Delayed vessel arrivals to Ukrainian Black Sea ports in November and December, as well as rocket attacks on energy infrastructure, stopped the work of some ports last week and reduced the purchasing activity of exporters.
Deliveries from Ukrainian ports are decreasing and pushing prices down.
Purchase prices for corn in the ports of Ukraine last week decreased by $2-4/t to $200-205/t or UAH 7500-7600/t due to a stoppage of acceptance due to power outages. Even limited offers from farmers are enough for traders, so they do not raise purchase prices, especially against the background of a decline in world prices.
80 vessels are now in the queue to enter the ports of Ukraine. For the stable operation of export terminals, inspectors need to inspect at least 10 ships daily, but Russian representatives limit their number to 5 or less.
Since July 1, Ukraine has exported 10.5 million tons of corn, of which only 935 thousand tons in December, while last year these figures were 7.8 million tons and 1.75 million tons, respectively.
This week, deliveries have intensified, and on December 13, 8 vessels left Ukrainian ports with 238.6 thousand tons of agricultural products intended for Asian and European countries. Another 23 vessels are under loading.
35% of crops remain in fields.
The market has not yet reacted to the decline in corn harvest forecasts for Ukraine and the fact that due to bad weather, 35% of crops remain in fields. The USDA representative in Ukraine predicts a corn harvest this year at 23.1 million tons, and exports – within 20.2 million tons, while the USDA in December estimated a crop of 27 million tons (42.126 million tons in 2021), and exports – 17.5 million tons (27 million tons in 2021).