Corn prices in Ukraine are expected to rise in April

Published 2023년 3월 30일

Tridge summary

The Ukrainian corn market is currently illiquid, with low market activity due to uncertainties around the extension of the grain agreement. Despite this, there is anticipated demand from China, which could lead to a significant increase in corn prices in mid-April. As of now, Ukraine has exported 2.7 million tons of corn, with a potential for 3 million tons in April. The price of corn is expected to rise from UAH 7,500/t to UAH 8,200/t by mid-April. In addition, the sowing of corn in the Odesa and Mykolaiv regions has begun, with a projected record low sowing area of about 4 million hectares this year. Additionally, Dmytro Solomchuk predicts a reduction in the area of corn crops in Ukraine by at least 20% in 2023.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Ukrainian corn market is currently illiquid, despite the recent extension of the grain agreement. However, there are all prerequisites for grain prices to rise in mid-April. In particular, the demand for corn is shaped by China. This was reported by analysts of the PUSK cooperative, created within the framework of the VAR. "As of March 27, Ukraine exported 2.7 million tons of corn, 3 million tons of grain can be exported in April. Market liquidity is minimal, traders are in no hurry to contract due to the ambiguity of the extension of the grain agreement. The market is waiting for clear confirmation that the humanitarian corridor will be open for 120 days," the report said. However, based on market conditions, the price of corn is forecast to increase. "Prices will rise. Significant volumes have already been contracted. The main buyer of Ukrainian corn is China, which creates demand. China is actively contracting and will continue purchasing in the future. There are all ...

Source: Superagronom