Ukrainian corn is in stable demand from a number of EU countries, which due to the abnormal heat will not receive their own corn crop, said the analytical cooperative “Pusk”, established within the framework of the All-Ukrainian Agrarian Rada (VAR).
“Ukraine exported about 1.2 million tons in July, but the off-season is coming, and only 0.5 million tons are contracted for August,” analysts said at a weekly briefing on Tuesday.
According to their information, the European market is seeing stable small demand from Italy and Spain, where the heat wave of up to 45℃ persists. Also, high temperatures in France are not conducive to the formation of corn crop, the country may not get its own crop. Some importers are buying grain corn now, as there are concerns about the supply of European corn.
The conditional average price of corn is around 175-185 EUR/ton and no significant changes in the market are expected in the near term. The new corn crop is indicatively priced at 150-160 EUR/tonne with delivery in October, but no forward contracts have been signed, experts said.
“It can be predicted that from the second half of August the market will activate,” predicted in “Pusk”.
