Ukrainian corn prices hit 11-week low

Ukrainian corn prices shed USD 13.75/mt month on month, sinking to 11-week low at USD 170/mt Wednesday, as assessed by S&P Global Platts.

Sellers of FOB Panamax port Handysize corn from Ukraine said prices could dive to USD 165/mt or lower on the prompt. Prompt loading prices are being dragged lower by record harvest numbers in the Black Sea and South America, sources said.

"Ukraine's record crop is estimated at 35.5 million mt, as per the USDA. Argentina's bumper harvest is forecast at 46 million mt, according to the Buenos Aires Grains Exchange," analysts note.

Grain exports from Ukraine as of February 27th reached 32.26 million tons. The Agrarian Ministry reports that this volume is 5.32 million tons more than the indicator for the last year's comparative period.

The new infographic guide Agribusiness of Ukraine 2017/18 is available by the link.