A small increase in corn prices in Ukraine last week expectedly didn’t last long.
After a a short increase the corn prices went down again.According to APK-Inform news agency, this situation is due to the corresponding price trend in the export market. The demand from traders also reduces. But the main reason was created by the farmers. They have to start their preparation to spring sowing campaign. Increased demand for working capital made the farmers to significantly activate their sales. The pressure on prices was exerted by a fairly active supply of grain at the local market.
Thus, since the beginning of the week, prices for feed corn have decreased by 100-300 UAH/t. That is 5-10 USD/t in export contracts. As of February 20, the purchasing prices were mainly within the range of 4600-5800 UAH/t CPT. It should be noted that only a few buyers recorded the maximum prices. Most of the market participants are expecting lower rates.