According to APK-Inform news agency, the domination of the trend of lower prices for corn in the ports of Ukraine, which began at the end of January, has been replaced by an upward trend since the middle of this week.
“Prices were supported by holding back sales by farmers, some strengthening of oil prices and ambiguous prospects for the production of this crop and soybeans in South America. A number of analysts are raising their estimates for the future harvest amid prolonged heavy rainfall and improved planting conditions, but some agencies consider them too late and, despite the completion of maize sowing in Argentina, and given the significant delay in soybean harvest / safrinha planting in Brazil, they are lowering their estimates. However, this is offset by an increase by USDA experts in the forecast of world production and ending stocks in the current season, as well as in export estimates (including from the USA, Argentina and Brazil), which will increase the already high competition in this market, "the head commented on the situation. of the Local Markets Department of APK-Inform IA Anna Tanskaya.
So, having fallen in price from the end of January by 400-600 UAH / MT - up to 7900-8200 UAH / MT CPT-port, since the middle of this week, traders' demand prices for corn began to grow again and as of 18 February are mainly announced within 8150- UAH 8450 / MT CPT port.
Demand prices in dollar terms increased by 3-7 USD / MT - up to 245-254 USD / MT CPT-port.
At the same time, the expert noted that the minimum prices are announced only by some traders.
“In addition, importers' demand for Ukrainian corn remains subdued, and its competitiveness is low. The pressure is reinforced by weak EU imports in the current season and a decrease by USDA experts of this estimate by another 2.5 million tons, as well as a decrease in China's purchasing activity against the backdrop of long holidays, ”concluded A. Tanskaya.