Feed corn prices in Ukraine continue to rise

Published 2024년 7월 25일

Tridge summary

Corn purchase prices in Ukrainian ports have risen by $13-17/t to $170-181/t SRT-port due to high importer demand, limited producer supply, low transitional stocks, and adverse weather conditions affecting late crop harvests. Drought has impacted 30-50% of crop areas, particularly during the corn flowering stage, with significant damage in the southeast regions. Lower harvest forecasts in Ukraine and Russia are supporting new crop prices, though growth is limited by low fodder wheat prices and stable corn prices in Chicago. Ukraine's corn harvest is expected to be 21% lower than last year, and Russia's forecast has also been reduced. Forward prices for corn deliveries to Black Sea ports have increased, with global market dynamics indicating higher demand for Black Sea corn from September, likely leading to higher prices.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

During the week, purchase prices for corn in the ports of Ukraine increased against the background of active demand from importers, a shortage of offers from producers, low transitional stocks and the July heat, which negatively affected the formation of the harvest of late crops. Since Monday, demand prices for corn have increased by $13-17/t to $170-181/t SRT-port. According to the Ukrainian Hydrometeorological Center, the agro-meteorological conditions in Ukraine were unfavorable for the formation of the harvest of late crops, as 30-50% of the areas with crops were covered by drought. At the current stage of development, the most vulnerable to high temperatures is corn, which needs the maximum amount of moisture during flowering. In many areas, as a result of the reduction of productive moisture reserves to a critical level and heat stress, there is persistent wilting and complete cessation of growth, yellowing and drying of leaves, stems, and in some places plants. The heat ...
Source: Graintrade

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