Purchasing prices for maize in Ukraine reduced

2020-01-30 12:10:27
Machine translation
Purchasing prices for maize in Ukraine reduced

After skyrocketing prices and demand for Ukrainian corn following the increase in world prices, since Friday, because of falling demand from China in Ukraine began to decrease in prices of all agricultural products.

 

Experts can't predict how China will cope with the epidemic coronavirus that has spread to all regions of the country, including 16 cases were recorded in Beijing.

 

most cheaper vegetable oil, from 5-10%, which will lead to a fall in the price of the meal and, as a result, for feed grain.

 

In Ukraine, purchasing prices of corn since the beginning of the week fell to the $2-3/t to 172 and 173 $/t or 5000-5070 UAH/t CPT-port, while on FOB basis export prices fell to 180-181 $/t and will likely decline in the future.

 

Thanks to the growth of the dollar on the interbank market to UAH 24,8/$ hryvnia prices remain above 5000 UAH/t whereas the highest level in the port was 5200 UAH/t

 

Today the US will release data on weekly export sales, which confirms the low demand for corn will become a factor of pressure on the market.

 

the Volume of ethanol production in the U.S. declined slightly, but exceeds the level of 1.03 million barrels/day, but increase the inventory level up to 24 million barrels in the near future will slow down the internal processing of corn, which last week was only 2.74 million tons, which is a 12-week low, although 400 tonnes higher than the corresponding figure 2019

 

Brazil against the background of reduction of stocks decreased during the week the exports of corn from 685 to 600 thousand tons Corn of the new harvest is collected on 11% of the area compared to 5% at that date on average. However, corn second crop using long-term rainfall planted only 3% of the area, which is 8% below the average figure.

 

In Argentina, corn planted 95% of the areas compared to the 92% average for this date.

 

Good weather conditions in South America allow us to predict the corn crop in Brazil at the level of 101 million tonnes and Argentina – 50 million tonnes, which from April will start to put pressure on prices.

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