Information about China’s rejection of Ukrainian corn is a rumor at the level of traders

There are currently no ban on import of Ukrainian corn to China, all the rumors that are circulating now are at the level of traders, said Mykola Gorbachev, president of the Ukrainian Grain Association (UGA), at the Black Sea Grain. Kyiv conference, Latifundist.com correspondent reports.

“They say that the Chinese have a deficit of storage capacities. That’s why they are trying to do washouts or make contracts with more stable delivery terms. But no one has gone into Washout with Ukrainian companies. No one refuses to ship. There are no defaults,” Gorbachev said.

Earlier, Spike Brokers analysts reported that the rumors about the cancellation of purchases of Ukrainian corn by China were not confirmed by market participants. Exporters “confidently bought corn at the levels of 152-155$/t in the direction of seaports”.

In March, it became known that China purchased more than 20 cargoes of feed grain from Ukraine and the US, taking advantage of the price decline to the lowest level in more than three years.

Later, private exporters refused to purchase 264 thousand tons of American soft red winter wheat for delivery to China. This was the third consecutive session with such an announcement, leading to a total cancellation of 504 thousand tons of grain.

In April, Bloomberg reported that Chinese importers had canceled 4-5 shipments of Ukrainian corn that had been previously booked for delivery between April and June.

Tags: Ukraine, China, corn, restrictions, UGA, BLACK SEA GRAIN.KYIV - 2024