Corn prices in Ukraine dropped to $212–213/t
On Monday, February 16, the corn market showed a significant increase in supply, primarily from farmers. This is due to their need for working capital, which forces them to release stocks, and the largest balances are currently in corn. This is reported by White Brokers.
According to brokers’ estimates, about 20 million tons of corn are currently stored in the country, with an additional 2 million tons remaining in the fields.
“Such a volume creates significant pressure on the market. As a result, prices have already begun to decline, and this trend has all the prerequisites for continuation,” the report says.
As of today, the market shows a level of $ 212-213 / t (about 10.4 thousand UAH / t) – and “at the moment it looks like a local maximum.”
As analysts note, given the complex global balance, significant reserves and active processing in Latin America and the USA, the global factor will continue to restrain the growth of quotations. There is little reason to expect a significant increase in prices on DAP port terms in the near future.
It is worth considering the logistics factor separately: the shortage of motor transport and, as a result, a likely increase in tariffs.
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