Corn prices in Ukraine support an upward trend in all grains

Published Sep 26, 2024

Tridge summary

Ukrainian grain prices, especially for corn, have seen a notable increase over the past month, with CPT corn prices rising by $17, compared to a $4 increase on the CBOT. Analysts from ASAP Agri attribute this to various factors, leading to a strengthened Ukrainian corn basis of $195/MT at deep sea ports. However, the higher cost of Ukrainian corn relative to US CBOT prices suggests that further price hikes will be difficult without additional international market support, making the short-term target of $200/MT challenging to achieve.

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

Original content

For the last month, Ukrainian prices have demonstrated a progressive strengthening. It concerns all grains, from wheat to barley and corn. The latter is the commodity that presents the dynamic. Since the beginning of the month, CPT corn prices have consolidated by +17 USD at the same time when CBOT only progressed by +4 USD… Corn is currently seen as the driver of the grain complex, the ASAP Agri analysts mark. Amongst the factors allowing a better performance of the UA corn vs the US one, ASAP Agri considers the following: This row of factors allowed a nice reinforcement of the Ukrainian corn basis to 195 USD/MT CPT deep sea ports of Ukraine, +5 USD/MT vs. last Friday 20 September. As a consequence of this recent surge, UA corn is now more expensive vs US CBOT, which means it will be more and more difficult for UA prices to increase without support in the ...

Source: Latifundist