Ukrainian corn is rising in price as demand from foreign importers increases. The market expectations that the arrival of the new corn crop from Argentina to the world market would lead to a drop in demand and prices for the Ukrainian grain did not materialize. Currently, Argentine new crop is sold at higher prices than Ukrainian one. We can predict a rise in prices for Ukrainian corn in the coming weeks.

This issue was discussed on March 12 during the analytical briefing of the First Ukrainian Agricultural Cooperative (FUAC), created within the framework of the UAC.

"China is actively contracting Ukrainian corn. Other importers, such as Turkey, Egypt, Italy, and Spain, have also started buying a lot of Ukrainian corn. In deep water, in seaports, the notional prices have increased to USD142-145/t. Prices have been rising for a week and a half. The supply is "sinking" and the demand is stable. It can be predicted that amid demand, prices will add USD2-3/t per week and reach at least USD150/t on CPT basis by the end of March," was predicted by the FUAC.

In April, the main factor of price changes for corn will be the information on the grain harvest in Brazil.

"In April, there will be more reliable information on the harvest in Brazil: the area under crops, soil moisture, and crop condition.  This will affect the global market. If the current drought in Brazil continues and the harvest is reduced, the price will rise. But for now, this is one of the scenarios. In case of timely precipitation in Brazil, the situation on the global corn market will be different," the analysts said.

On the DAP basis, Ukrainian corn is traded for delivery in March-April to Italy, Austria and Germany in the range of USD192-197/t.