The corn market has started to rise in price

The corn market in Ukraine and globally is showing a tendency to rise in prices. This is primarily due to problems with growing the grain crop in South America. This was discussed during the analytical briefing of the PUSK cooperative, created within the framework of the VAR.

According to analysts, as of May 13, Ukraine has already exported 1.25 million tons of corn this month. According to expectations, exports in May may reach 3 million tons.

“Today, the situation on the corn market is determined by fundamental factors – problems in South America, which are the main suppliers of corn. This year Argentina had significant problems: droughts and pest damage. In Brazil, there was excessive rainfall. These phenomena reduce the supply of corn in the world. The problems in South America are forcing many buyers to buy corn, and this is driving the market up. Buyers realize that key exporters will cut production in the new season. In addition, the parallel rise in prices on the wheat market also contributes to the rise in price of corn,” the PUSK said.

According to analysts, by next week, the conditional prices for Ukrainian corn will be about 170-178 USD/t on CPT deep water basis, 178-190 USD/t on CPT shallow water basis, 190-200 USD/t on DAP/CIF Constanta basis, 165-175 USD/t on DAP Vadul basis.

Tags: corn, prices