Ukrainian corn and feed barley market to fall further: traders
The feed corn export market was dominated by downward price trends in Ukraine. At the same time, an increasing interest occurred in new crop grains, harvesting campaign terms, and price policy, G.R. Agro analysts comment.
"The forward prices for corn were in the range of 227-234 USD/t CPT-port (October-November delivery). Processors have set purchase prices in the range of 7.5-8.3 thou. UAH/t including delivery and were ready to revise them upward if necessary," explained G.R. Agro specialists.
Traders are expecting the previously established grain trends to persist.
The feed barley market demonstrated low trading activity and a subsequent decline in price.
"Processors' prices have fallen by an average of 100-200 UAH/t since last Friday to 6.1-7.05 thou. UAH/t, including delivery charges. And the pace of trading activity will remain low," experts added.
As of June 1, corn stocks in Ukraine were at 3.63 mln t, 16% lower YoY.
Barley export shipment reached 4.15 mln t, 16% down YoY as of June 18.
