Demand prices for corn in March-April may drop to $135-140/t

2024-02-12 10:25:35
Machine translation
Demand prices for corn in March-April may drop to $135-140/t

Corn prices are gradually declining throughout the supply chain. Buyers are offering $202/t CIF Italy and $203/t CIF Spain for it. Most avoid large deliveries, in particular panamax shipments of 50,000-60,000 tons, or ask for a discount of up to $3/t for such shipments compared to handsize deliveries of 25,000-30,000 tons, Spike Brokers reports.


In the ports of Ukraine, prices remain at the level of $144-148/t, subject to fast delivery within 1-2 weeks. In March - April, demand prices may fall to $135-140/t against the background of lower world prices and increased offers from competitors.


Buyers are offering €185-190/ton for the delivery of corn by ground transport to Italy in April-August.


Currently, indications of buyers are:

  • DAP Odesa - $144-148/t,
  • FCA Ukraine (border) - 125-130 €/t,
  • DAP Italy (Mon.) -185-190 €/t,
  • DAP Germany (Mon.) -188-190 €/t,
  • FOB Odesa - $168-169/t,
  • CIF Italy (port) -200-202 $/t,
  • CIF Spain (port) - $200-203/t,
  • CIF Turkey (port) - $193-196/t.


USDA experts estimate the corn harvest in Ukraine at 30.5 million tons, exports at 23 million tons (+2 million tons), final stocks at 5.32 million tons (-1.5 million tons). In FY 2023/24, Ukraine exported 13.6 million tons of corn, therefore, in order to reach the USDA forecasted indicators, it must ship about 2.4 million tons of grain every month.

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