The Ukrainian corn market continues to feel pressure from declining demand, the drop in wheat prices, and increased competition from cheaper grains from other countries, particularly the USA. As of May, export prices for Ukrainian corn fluctuate around $225-228 per ton, while feed wheat in ports has decreased to $210-214 per ton.
This is reported by Business • Media
American and South American Competition
The demand for Ukrainian corn has decreased, prompting major traders to temporarily suspend purchases in anticipation of more favorable conditions. However, the situation is complicated by the rise in supplies of cheap corn from the USA, Argentina, and Brazil. In the USA, corn exports from May 8 to May 15 increased by 32.2%, totaling 1.72 million tons. The total export for the season reached 45.543 million tons.
In comparison, in May, Ukraine exported only 1.26 million tons of corn, significantly less than last year’s May figure of 2.36 million tons. Overall, since the beginning of the season, Ukrainian corn exports have totaled 19.8 million tons.
“The price of Ukrainian corn in June may drop to $215-220 per ton; however, currently, the supply prices to Asia for July-August remain at $244-246 per ton.”
Potential for Pea Exports to China
In the context of competition in the corn market, Ukraine is gaining new opportunities in the legume segment. According to information presented during the TREND&HEDGE CLUB at the Ukrainian Embassy in China, China has expressed interest in increasing imports of Ukrainian peas. It is noted that the quality and cost of this crop make it attractive to Chinese importers.