Ukraine is experiencing a drought, which has already partially lost the autumn winter crops. However, the prolonged absence of precipitation contributes to the active pace of the harvesting campaign and high quality of corn grain.

This issue was discussed on September 26 during a weekly briefing organized by the analytical center of the agricultural cooperative PUSK, created within the UAC.

"The forecast model shows no precipitation in Ukraine in the near future. Therefore, the moisture content of corn grain will remain low, averaging 17-20%, while last season it was 30-35%. This will help to reduce the cost of corn grain, as one drying cycle will be enough for the harvested crop. In early October, farmers will intensify corn harvesting as they finish harvesting sunflower and soybeans," is mentioned by the PUSK cooperative.

Shelling of the ports of Odesa and the Danube slows down corn exports. The Ukrainian grain is in demand from China, exclusively on a CIF basis, with delivery in October-December at a notional price of USD250 per ton.

Currently, on all bases, the price tags for Ukrainian corn are losing USD3-5 per ton every week. The supply of the grain is high, but logistical problems are and will continue to be a factor in the decline of corn prices, especially during the harvesting campaign.

We can expect the next price level for 1 ton of corn in a week: CPT river ports - USD140-150, DAP border - USD145-155.