Prices for Ukrainian corn hit 19-month high

Prices for Ukrainian corn reached 19-month high by exceeding USD 190 per ton, LigaBusinessInform writes with the reference to S&P Global Platts.

It is noted that the rise in prices could provoke increased demand from the American market.

According to S&P Global Platts, the prices for Ukrainian corn in the US market reached 19-month high and amounted to USD 190.25 per ton due to floods in the US. As compared to the previous month, corn prices rose by 50 cents.

"In March, futures for corn rose 4.75 points to USD 3.74 per bsh. At the same time, the May contract went up by 3.75 points to USD 3.83 per bsh., forcing buyers from the US to line up in order to drive out further corn price increase," the report says.

Earlier it was reported that the EU cut corn and sorghum import duties 10 times.