Export price for corn down by USD 5-7 per ton

Since early May, the Ukrainian export market of coarse corn (FOB basis) is dominated by a downward price dynamics, which became noticeable in the second decade of April, APK-Inform reports.

This trend is primarily evoked by the decrease in the demand of importers, as well as by the context interest in the purchases of Ukrainian grain by such a key importer as China.

As of May 22, Ukrainian corn offers often come at prices in the range of USD 196-201 per ton FOB (with delivery in May-early June), which is USD 5-7 tons lower than in early May. Higher bid prices come only from a small number of traders.

Earlier it was reported that the FAO Cereal Price Index had averaged 168.5 points in April, 1.7 percent (2.8 points) higher than in March and some 15.4 percent above its value in April 2017.