The intention to restrict the export of corn from Ukraine will become a new factor influencing the prices

Yesterday at an online meeting of experts of the Ministry of economy, trade and agriculture, representatives of agricultural associations, the balance of the corn market. About this on his page in Facebook said the Deputy Minister T. Vysotsky.

According to the Ministry, the corn crop will be 29-30 million tonnes, of which 22.2 million tons will be exported. Therefore, it was proposed to expand the list of crops in the Memorandum and to restrict the export of maize at the level of 22.2 million tonnes, the Signatories of the Memorandum will articulate their positions until January 25, after which a final decision is made.

IN 2020/21 MG corn exports from Ukraine as of January 18 totaled 10.5 million tons, up 3.7 million tonnes lower than in the previous season. Therefore, prior to the completion of the marketing year left to export 11.7 million T. Recall that in 2019/20 my Ukraine exported 30.3 million MT of corn, and in 2020/21 MG, according to the USDA estimations, the export will be 24 million tons.

the Intention to restrict the export of corn from Ukraine will become a new factor in the growth of prices on the world market, because the limitation of the exports of corn from Argentina, to support domestic processors has led to a strike by farmers and another jump in prices.

Yesterday the March corn futures on MATIF rose by 5 €/t to 217 €/t or 262,47 $/ton, CBOT and Chicago on the news about the restriction of exports from Ukraine will react today.

price Growth decelerates the import of corn. So, the EU countries since the beginning of season imported only of 9.23 million tons of corn, which is 26 per cent behind last year's pace. But the experts of the USDA lowered its assessment of corn imports in EU 2020/21 MG from 19 to 18 million tons.

with the rapid growth of the world markets of wheat and maize, prices paid for corn in Ukraine in traders for a few weeks grew up in port before 250-255 $/t or 8500-8550 UAH/t, so the processors have had to raise prices to 8000-8200 UAH/t, which has increased sales by the manufacturers.

the Growth in world corn prices could once again stop buying from farmers that it will continue to heat up the market similar to the wheat market of the world balance which is less stressful than maize, however, prices reach record levels amid export restrictions from Russia.