Corn prices in Ukraine fell slightly after a sharp jump the day before

< span style="font-size:14px;" > following the rapid growth of stock prices for corn in Chicago, purchase prices in Ukraine since the beginning of the week also increased by 5 5-7/ton to 2 268-273/ton or 8600-8700 UAH/ton, but yesterday they fell to 2 265-268/ton or 8400-8600 UAH/ton against the background of increased supply and low export demand. Exporters offer high prices in UAH, as they mainly buy corn certified for export to China.

< span style="font-size:14px;">information about the purchase of 50 thousand tons of Ukrainian corn by the South Korean processor KOSORIA for delivery in July at a price of C 339.38/ton C&F led to a sharp jump in prices, but yesterday quotes in Chicago fell, and prices at new tenders where corn was bought from South America and South Africa were low.

< span style="font-size:14px;">South Korean feed producer MFG yesterday purchased 203 thousand tons of South American or South African corn for delivery in July – August at a price of 3 311/ton C&F.

< span style="font-size:14px;" > against the background of rising prices of demand for corn in Asia, the number of offers of feed wheat from Australia and the Black Sea region immediately increased at a price of 2 290-300/ton C&F with delivery in June – July, which stops the increase in prices for corn, which processors are actively replacing with cheaper wheat.

< span style="font-size:14px;" > in Brazil, the second-crop corn growing regions are characterized by dry and hot weather, no precipitation is expected during the week, which remains the main speculative factor in supporting prices.

< span style="font-size:14px;">yesterday on the Chicago Stock Exchange, may futures rose from зранку 273.1/ton to.283/ton in the morning, but then fell to. 271/ton, July futures fell by 1.7% to. 253.3/ton, and December futures – by 3.5% to. 214/ton against the background of favorable conditions for corn sowing in the United States.

< span style="font-size:14px;" > on Paris Euronext, quotes for new crop corn fell by 1.5 €/T yesterday to 207.75 €/t or 2 252/t, adding 7% of the price over the past 10 days.

< span style="font-size:14px;">EU countries are reducing corn imports because they are significantly more expensive than wheat. In the current season, 12.152 million tons of grain were imported, which is 29.8% lower than the corresponding indicator of the previous season, so by July 1, it is unlikely that imports will reach the projected USDA 15.5 million tons.

< span style="font-size:14px;" > against the background of the drought in Brazil, forward prices for corn in Ukraine increased to 2 235-240/ton for deliveries in November – December. They are supported by cold and rainy weather in Ukraine, which delays corn sowing.