Prices for corn at elevators in Ukraine have sharply decreased.

Unfavorable weather for corn harvesting, high grain moisture, limited capacity of elevators for drying and receiving, as well as a sharp increase in the cost of delivery to ports, led to a significant decrease in corn prices at domestic elevators in Ukraine. Additional pressure came from threats from the Russian Federation to intensify attacks on Ukrainian ports and vessels in order to block exports, which led to an increase in insurance and freight rates from Ukrainian ports. As of November 28, in Ukraine, out of 3.31 million hectares or 75% of the area, 22.486 million tons of corn have been harvested with a yield of 6.79 tons/ha. According to meteorologists, frost and dry weather are expected next week, which will allow for a slight reduction in grain moisture (which reaches 25-35%) and complete the harvesting. The cost of transporting grain from domestic elevators to ports has increased by 400-1000 UAH/t to 1400-2000 UAH/t amid an increase in grain supply and a shortage of road ...