Prices for the new crop of wheat and corn are falling

Old crop corn prices continued to decline to $165-170/t with delivery to seaports in June-July. This was reported by Spike Brokers analysts.

 

According to brokers, prices at the border have also fallen to a nominal level — €162-167/t FCA with loading into the European train for July-August.

 

Indications for the new corn crop dropped to the level of $165/t CRT port and €162-165/t FCA with loading into the European train at the border.

 

"At the same time, on the market of Northern Italy, the new harvest was traded at the level of €212-215/t with delivery by trains. Hungarian corn traded to Italy at €180/t or at a premium of €15 to Ukrainian corn on FCA Chop terms, which is the difference in logistics and the premium for the European origin of the crop," the brokers added.

 

The latest indications of buyers, harvest 2023:

 

DAP Ukraine (Odesa) — $165-170/t;

DAP Italy (Mon.) (auto) — €220-225/t.

The latest indications of buyers, harvest 2024:

 

DAP Ukraine (Odesa) — $160-165/t;

FCA Ukraine (border) — €162-165/t;

DAP Italy (Mon) (train) — €212-215/t;

CIF Italy (port) — €210-212/t.