The price of maize in Ukraine is falling, and the US grows
In Ukraine corn prices since the beginning of the week are reduced due to the reduction of export demand from Asian consumers, who prefer cheaper feed wheat. The purchase price of corn on CPT-port is 188-190 $/t or 5850-5950 UAH/t
the Difference between American and Ukrainian corn reached a maximum in the season of $45/t
the projected USDA exports of maize from Ukraine in 2017/18 MG at the level of 20 mln tonnes as of April 20, foreign markets are supplied, only 14 million tonnes, 1.7 million tonnes lower than in the corresponding period last year.
due to the delay of the sowing campaign in the US, the may corn futures in Chicago rose to 155,2 $/t
Corn is sowed only 5% of the planned areas versus 10% on this date last year and 9% on average for 5 years.
Additional pressure on prices reduction in average daily ethanol production below the psychological level of 1 million barrels to 985 thousand barrels/day.
Reduction of corn harvest in Brazil amid strong exports contributing to rising prices in the domestic market. The government declared the place of auctions for the sale of nearly 1 million tonnes of corn from state reserves to increase the supply of grain on the domestic market, especially for breeders who are very concerned about the substantial growth of prices for feed grain.