As of June 22, Ukraine exported 2.2 million tons of corn, which indicates a high level of activity on the market. reported in the analytical cooperative “Pusk”, created within the framework of the All-Ukrainian Agrarian Council (VAR).
Analysts predict that June will be the most productive month for exports, but in July and August the figures may drop significantly as the market switches to the new crop.
“The global situation turned out to be unfavorable for Ukrainian corn. Although it is still in demand in the Italian market, competitiveness is reduced due to pricing policy. For example, Argentine corn is sold at a price of $212-213/ton on the Italian market, which is approximately the same level as the Ukrainian one. At the same time, in Spain, Argentine corn costs a few dollars cheaper, which makes it more attractive to buyers. Under such conditions, Ukrainian traders are in no hurry to sell their existing stocks, because their volume is limited,” experts noted.
According to them, the corn market is entering the off-season, and prices should stabilize in the coming weeks.
“If there is demand, conventional prices for corn may fluctuate between $172-174 per ton. On average, on the basis of CRT, the price will be about $170/ton in the coming weeks,” Pusk summarized.
