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Record harvest puts pressure on the price of Ukrainian corn

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Warm and dry weather in Ukraine allows for the harvesting of sunflower, corn and soya. High yields of these crops leads to shortage of storage tanks and restart the elevators.

If the sunflower were thrashed, which is 90% of soybeans and 70% corn collected with only 50% of the area. Preliminary corn yield allows to hope for obtaining a record harvest of 31-32 million tonnes, but the lack of storage capacities and low export growth will slow down collection.

Worsen the situation, uz, increase fees for the use of cars in 1.5 times, the rate of transport will increase by 150-200 UAH/t, while prices for road transport have increased by 50% due to the rise in price of diesel from 27 to 32 UAH/l, and deficiency AVTOSERVIS.

a Decline in export prices for corn in port before 154-155 $/t have not activated the demand for Ukrainian corn from importers, because world markets are dominated by cheaper American grain. A good crop in Romania and Serbia covers the deficit of maize in the EU that does not allow us to increase domestic grain imports in that direction.

In the USA rain with the snow slowing down, and can reduce the harvest in some States, making the corn futures in Chicago rose to 148,1 $/t

Warm and dry weather in the U.S. and in Ukraine this week will accelerate the collection and increase the pressure on prices.

According to estimates by Strategie Grains, the scarcity of wheat and barley on the domestic market of the EU will increase the demand for corn from livestock farmers, thanks to which will increase the volume of domestic corn trading between EU countries and import grain. Compared to the September report forecast corn imports to the EU increased by 100 thousand tonnes to 21.1 million tonnes, 3.2 million tonnes will exceed the record import of the previous season will be 1.6 million tons more than predicted USDA import 19.5 million tons.

For the week, corn imports to the EU increased by 20% and reached 4,771 million tonnes, 10% higher than the same period last year.

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