The Ukrainian corn market remained in a state of expectation last week due to high freight costs and weak external demand. Grain prices show unstable dynamics, and the activity of traders and farmers remains low. This is reported by White Brokers.
Over the past week, the Ukrainian corn market showed mixed dynamics, with a dominant downward trend in the first half of the period. Prices remained under pressure due to weak external demand and low activity of buyers on CIF and FOB terms. On DAP-port terms, there was also a decrease in prices, although at the end of the week, individual purchases and a delay in harvesting due to precipitation ensured a short-term increase in prices. Superspot was formed at around $208/t, spot-November — around $206/t.
According to brokers, the key factor remained a sharp increase in freight costs, which increased logistics costs and narrowed trading margins. This reduced traders' activity and limited interest in concluding new contracts.
“Farmers suspended sales, expecting a potential strengthening of prices, and the market remained inactive with a minimum number of transactions,” the report says.
Analysts predict that a similar situation will persist in the coming weeks. A significant increase in prices on CIF or FOB terms is not currently expected, and the market is in a state of stable expectation with local fluctuations under the influence of internal supply factors.