Turkey imported almost 38% of all Ukrainian corn
In Ukraine, the corn market is beginning to correct. The structure of Ukrainian corn exports remains highly concentrated: more than half of the total volume is provided by the MENA region (1 million tons), and almost half by the EU (880 thousand tons).
This is reported by analysts at Spike Brokers.
The absolute leader among countries is Turkey (733 thousand tons), which imported almost 38% of all Ukrainian corn. This demand model maintains Ukraine’s dependence on a limited number of sales markets. Traders continue to look for demand on foreign markets, bypassing the spot segment to reduce the current pressure on margins.
CIF sales for April-May mean an expectation of a price drop below $205 CPT. The market context is currently not favorable for continued growth.
The price of corn on a CPT-port basis (SPIKE Spot Index) ended the week with the first decrease to $212 (-$1 t/t), or almost -$4 from the maximum level over the past two weeks.
On the western border, demand remains stable at €180-183 FCA Chop for March-April. Logistics through western crossings operates without restrictions.
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