A sharp increase in freight costs has raised logistics expenses and narrowed the trading margin for corn — brokers

The Ukrainian corn market remained in a state of anticipation last week due to high freight costs and weak external demand. Grain prices showed unstable dynamics, and the activity of traders and farmers remained low. This is reported by White Brokers, writes UkrAgroConsult. Over the past week, the Ukrainian corn market showed mixed dynamics, with a predominant downward trend in the first half of the period. Prices remained under pressure due to weak external demand and low buyer activity on CIF and FOB terms. DAP-port prices also saw a decrease, although at the end of the week, isolated purchases and delays in the harvest due to precipitation ensured a short-term increase in prices. Superspot was formed at around $208/t, and spot-November was around $206/t. According to brokers, the key factor remained the sharp increase in freight costs, which raised logistical expenses and narrowed the trading margin. This reduced the activity of traders and limited interest in concluding new ...