New crop corn begins to arrive at Ukrainian ports
In Ukraine, corn deliveries to ports have begun, but the domestic market remains in deficit: demand is ahead of supply, and the harvest may be slowed down by rains and cold weather. Importers are not in a hurry to make purchases yet, but FOB and CIF prices are already growing. This is reported by White Brokers.
Large volumes of corn have already been sold for October, in particular for the first half of the month, but buyers have now taken a wait-and-see approach. 7-10 days of rain and a sharp cold snap are forecast, which may slow down the harvest and delay corn deliveries to ports, brokers note.
Importer demand remains low, but sellers are gradually raising FOB and CIF prices. If importers do not find alternative suppliers, they will have to raise purchase prices to secure volumes for October-November, White Brokers added.
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