Corn and feed wheat prices in Ukrainian sea ports matched: Agritel
In Ukrainian ports, corn is trading at the same price as feed wheat, the Agritel consultancy informs. Analysts note that this situation of parity between the two cereals is particularly unusual.
"The last time it occurred was in the spring of 2018 when production was negatively impacted by a water deficit," the report reads.
From a climatic point of view, conditions are favourable in Ukraine but need to be scrutinized in Russia to check crops conditions in late winter, especially in the centre of the country.
Chinese demand, with already 5 mln t loaded to this destination since the beginning of the campaign, compensates for the weakness of European demand and still offers strong support to the corn.
At the start of the corn harvest last October, this cereal was trading with a USD 30 discount compared to feed wheat.
As a reminder, wheat export from Ukraine as of March 19 totalled 13.98 mln t, corn 15.33 mln t.
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