5 November 2019, 16:30,
Grain
EU demand fuels Ukrainian corn prices growth
Ukrainian corn offer prices have risen to 168-170 $/t FOB, Grain Trade reports.
Demand prices for December deliveries do not exceed 166-167 $/t FOB amidst active competition from South America.
"The Ukrainian corn market supports the demand from the EU, which imported 257.9 thou. t of corn in a week, and 6.75 mln t of corn since the start of the season. 60% of grain was purchased from Brazil," the report reads.
Corn harvesting in the US is still the main factor impacting prices. Low demand from major buyers puts prices under pressure.
As a reminder, corn harvesting progress in Ukraine as of November 4 reached 27.6 mln t on 4 mln ha. The grain crop yields 6.86 t/ha (2018: 7.24 t/ha).