Prices for Ukrainian corn ceased falling
Prices for Ukrainian corn stopped decreasing at the level of USD 160-162 per ton CPT as the price drop cut offers, Grain Trade informs.
As a result of the hryvnia strengthening, procurement prices in ports reduced to UAH 5.1-5.15 thou. per ton.
Over the week, Ukraine increased corn exports to a record 722 thou. tons, and in general in the current marketing year it has delivered 15.84 million tons, 64 pct higher vs. the corresponding indicator last year.
"The EU remains the main buyer, however, there may be an increase in demand from China, which has already imported 1 million tons of Ukrainian corn of the 3 million tons projected by experts. If China starts buying U.S. corn as part of a trade agreement, the demand for Ukrainian grain will decrease, especially against the background of the ASF outbreaks in the country,” the newspaper writes.
Lower prices and GMOs absence make Ukrainian corn more attractive than American.
Since the start of MY2018/19, as of February 27, 2019, Ukraine increased corn exports by 6.2 million tons (64 pct) to 15.8 million tons vs. the corresponding period last year.