Corn prices in Ukraine continue to grow

2020-01-23 12:28:29
Machine translation
Corn prices in Ukraine continue to grow

Despite yesterday's drop in corn futures in Chicago purchase prices for maize in Ukraine since the beginning of the week increased by 2-3 $/t. the Reason was the increased purchasing by Chinese importers, who on the eve of the new year's weekend trying to make some reserves.

 

the Market supported the purchase of South Korean refiner of optional origin several batches of U.S. corn for delivery in April-may at a price 218,88-219,55 $/t CFR, which is 4-5 $/t higher than the party, purchased with delivery in March-April.

 

Proposals on the supply in Vietnam grew to $220/t CFR, although in anticipation of the holidays trading activity of buyers has decreased.

 

In Ukraine, purchasing prices for maize in the port increased by 2-3 $/t to 172 and 173 $/t and in local currency they rose by 100-150 UAH/t to 4900-5000 UAH/t due to the rising dollar.

 

Prices demand from China for the supply of domestic corn in March-April has grown on FOB basis to 184 $/t, whereas sellers offer it at 186-188 $/t FOB.

 

Concern is that after the signing of the trade agreement China intensifies purchases of maize in the United States, reduced amid rising demand from China, which since the beginning of the season bought 1.8 million tons of Ukrainian corn and became the second largest customer. The main importer of Ukrainian maize is Spain, which acquired 2.4 million tonnes, 1.7 million tonnes acquired Egypt, and 1.4 million tons, South Korea.

 

representatives of the Chinese government said that the signing of the first trade agreement between the U.S. and China will not be detrimental to trading partners, and the promise to increase the purchase of agricultural products amerikanska contains a clause that the "agreement will be concluded at market prices and conditions defined commercial considerations".

 

Experts believe that Ukrainian corn is actively bought by China, since it has advantages over the American, because non-GMO is of high quality and low price.

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