High humidity limits corn supply in Ukraine

Ukraine is undergoing a difficult corn harvest: almost 21 million tons have already been threshed, but about a third of the crop still remains in the fields. The largest delays are observed in the northern and western regions. Despite the improvement in the weather, the rate of corn entering the market is limited. This was reported by the analytical department of the agricultural cooperative PUSK, established within the VAR.

The main reason for the limited supply is the high moisture content of the grain. “To bring the corn to the required parameters, it is necessary to remove 10–12% of moisture. This greatly slows down the operation of dryers. Therefore, elevators report a lack of capacity and ask not to temporarily import new batches of grain,” analysts explain.

Spot prices remain consistently higher than forward prices and are $211–212 per ton. In hryvnia, the figure reaches UAH 10,100–10,200/t and may increase further.

“We see a slow but steady upward movement. Prices could add $1–2 per ton each week,” analysts believe.

Tags: Ukraine, corn