The corn market enters the off-season: price stabilization is predicted
27/06/2024 16:58
The corn market is entering the off-season and prices should stabilize in the coming weeks. This was reported by the analysts of the PUSK agricultural cooperative.
"If there is demand, conventional prices for corn may fluctuate between $172-174 per ton. On average, on the basis of CRT, the price will be about $170 per ton in the coming weeks," analysts predict.
They also noted that June will be the most productive month for the export of Ukrainian corn. According to the Ministry of Agrarian Policy, as of June 26, 29 million tons of grain were exported to foreign markets, including 2.4 million tons in June.
However, analysts suggest that in July-August the figures may drop significantly, as the market switches to the new harvest. T
"The global situation turned out to be unfavorable for Ukrainian corn. Although it is still in demand in the Italian market, competitiveness is reduced due to pricing policies. For example, Argentine corn is sold at a price of $212-213 per ton on the Italian market, which is approximately the same level as the Ukrainian one. At the same time, in Spain, Argentine corn costs a few dollars cheaper, which makes it more attractive to buyers. In such conditions, Ukrainian traders are in no hurry to sell their existing stocks, because their volume is limited," the experts noted.
