Ukraine: Analysts predict an increase in the price of corn already next week

On January 12, the US Department of Agriculture updated its global forecast of the balance of the harvest of major agricultural crops for the 2023-2024 marketing year. At first, the indicators forced the prices of wheat and corn to decrease, and then to return to growth, the press service of the VAR reports. At the same time, it is noted that there were no prerequisites for reducing the price of corn. The forecast for consumption of this crop in the world has increased significantly: from 900 million tons to 1.2 billion tons. However, world corn stocks and the total harvest will remain within the range of previous forecasts. As of January 15, 2024, Ukraine has already sold 1.5 million tons of corn in this marketing year and continues to dynamically supply this crop to foreign markets. For February, 2.3 million tons of corn have already been contracted. Starting in March, Argentine corn will enter the market, which should reduce the cost of this crop on the market, but due to the ...