News

Ukraine: Corn prices rose to $176-186/t, old-crop wheat prices fall

Published May 19, 2024

Tridge summary

Corn prices in Ukraine are increasing due to supply-demand imbalance, while the growth in old-crop wheat prices is slowing down. Foreign buyers are less active in purchasing Ukrainian corn as the world market is saturated with offers from South America and the USA. European producers are offering new crop wheat on the Italian market, which is causing a decrease in demand for wheat of the old harvest. The CIF market has slowed down its activity in old crop purchases and is awaiting new crop offers.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Corn prices continued to rise on the domestic market. The local context in Ukraine, in particular the imbalance between supply and demand, plays a key role in the formation of the domestic price. Growth in old-crop wheat prices is running out and slowing down. This was reported by Spike Brokers analysts. "On foreign markets, buyers are more restrained in purchasing Ukrainian corn. The world market is gradually saturated with offers from South America and the USA. Traders are closing positions in Ukraine with corn and are gearing up to work with the new crop of early grains, which will be more available in the near future," the brokers said. The latest indications of buyers: There is a gradual decrease in the demand for wheat of the old harvest. The prices for wheat of the new crop, which are voiced by buyers, are up to $10 lower than the prices of the old crop. European producers from Serbia and Eastern Europe began to actively offer wheat of the new harvest on the Italian market, ...
Source: Superagronom
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