Corn prices in Ukraine continue to fall

the growth of the proposals from Argentina and the decline in demand from China due to losses from Achs increase competition in the corn market.

the May corn futures in Chicago remain at the level of 147,8 $/t Prices supported the news of a possible signing at the end of March trade agreement between the US and China, although the market for not responding to this factor because it is waiting for the decision of a question more than 8 months.

For the week, the United States increased corn exports by 13.6% to 865,6 thousand tons, but the decline in corn processing for ethanol in January 2019, compared to January 2018 6.7% leveled support prices.

purchases of maize from the new harvest on the domestic market of Argentina has reached 3 million tons, more than double last year's level, and by the end of October can be sold is 67.7% yield.

it is Expected that in March the export port of Rosario will be supplied a record volume of corn – 2.4 mln tonnes, which is 90% over March 2018.

According to the grain Arbitration chamber of Argentina, in March corn in the domestic market will be $140/t

Due to reduced export demand in Ukraine, prices of corn dropped to 170 $/t FOB, while the bid price fell to 168 and 169 USD/t FOB for shipments in March-April. In the port of demand prices decreased for a week for 5-6 $/t until 156-159 $/t or 4900-5100 UAH/t, including through the strengthening of the hryvnia since the beginning of February by 5% to 26,8 UAH/$.

March 12, Turkey will hold a tender for the purchase of 300 thousand tons of corn, which could support prices.

the Main consumer of Ukrainian corn – the EU reduces the rate of imports, and acquired the 362,597 thousand tons, which is far below the annual average. Since the beginning of season imported 16,58 million tonnes, which is 44.6% higher than in the corresponding period last season (a week ago, the excess was 45%).

Ukraine per week reduced the export of corn by 15% to 717 thousand tonnes, and since the beginning of the season, sold 15.8 million tonnes, 6 million tonnes more than last year. Until the end of the season you can export 10-12 million tonnes of maize, however, increased sales to lower prices.