Ukraine is gradually increasing the price of corn
World corn prices are under pressure of "bearish" January balance USDA and a significant amount of production. In the US, the March corn futures are trading at 137 $/MT, and rates of weekly exports did not add optimism to the traders.
last week corn exports amounted to 584 thousand tons, 31.28% lower than in the previous week and by 35.85% less than the exports of the corresponding period in 2017. The export volume in the season 2017/18 is 63,77% from the same period last year.
On Euronext corn prices for the week fell by 7.5 €/t to the level of 151.5 €/t or 185,5 $/t. the Strengthening of the Euro to the maximum of the last three years reduces the competitiveness of European corn.
due to the reduction of forecast production and exports in Ukraine, traders have stepped up purchases of corn, which led to higher prices.
As 01.01.18 Ukraine exported 5.8 million tons of corn, which is 26% behind the volume of exports to 01.01.2017 year Rate of exports lag behind last year through the powerful pressure on the world markets of South American corn the last crop, which they sell at a lower price.
For the first 5 days of January Ukraine has chosen the basic and additional quotas for exports of corn to the EU, which in 2018 was set at 1125 thousand tons, the Strengthening of the Euro against the dollar will help increase exports of domestic grain in the EU.
In Ukraine, the price of maize at the port since the beginning of the year increased by 2-3 $/MT to the level of 154-155 $/t For the rapid devaluation of the national currency hryvnia prices increased by 150-200 UAH/t and now offer traders for corn in the port 5100-5200 UAH/t