Corn prices in the ports of Ukraine rose again to $250/m and above
behind the growth of quotations of corn on the stock exchange in Chicago at the end of last week, the purchase prices in Ukraine increased by 3-5 $/t and crossed 250 $/t with delivery to the port. And the most expensive is the corn, are certified to supply to China.
the May corn futures on the stock exchange in Chicago yesterday rose 1.1% to 233,1 $/t, and the December – 1.6% to 204,7 $/t on the background of delayed sowing in the USA.
According to the weekly USDA report, released after the market, as of April 18 in the U.S. corn planted 8% of the area, exceeding last year's 6% and corresponds to the average 5-year rate of 8%, so as you move Seva speculative pressure on prices will decline. Corn exports from the United States meets the expectations and was in week 1,525 million tonnes, of which 37% were sent to China.
In Ukraine, the purchase price of maize in the ports grew by 100-150 UAH/t to 8050-8150 UAH/t or 252-254 $/t and the award for corn, certified to China increased by 3-4 $/t to compete with exporters and purchase the items you need, processors were forced to raise the price of 100-150 UAH/t to 7700-7800 UAH/t.
, China is the main buyer darling of Ukrainian corn. Exports from Ukraine during October – March 2020/21 MG 15.9 million tons of corn to China was sent to 7 million tons In March 2021г. China imported 1.9 million tonnes of corn, of which 1.3 million tonnes of Ukrainian, which is 48% of the total of the March export of grain from Ukraine.
In season 2020/21 as of April 16, Ukraine exported 17.4 million tons projected 23-24 million tonnes of corn.
bid Prices of Ukrainian corn on the level 267-270 $/MT FOB is not competitive in the EU, Egypt and Turkey, therefore, dependent on demand from China.
Within a week, the EU has reduced imports of corn to 93.3 million tonnes, but in the whole season we have acquired of 12.07 million tons, which is 28% below last year's pace, since importers prefer feed wheat on the background of higher corn prices. May wheat futures are traded in the EU for 260 $/t, while the June corn – 268 $/t
