The work of the grain corridor was intensified last week: Russia released 16 ships with Ukrainian grain, 60% of which was corn. This week, not a single ship has passed through, and 48 ships are waiting in line. Overall, the work of the humanitarian corridor remains unpredictable.

This was discussed on June 13 during a weekly briefing organized by PUSK Cooperative analytical department established within the framework of the UAC.

"It is unclear whether the grain corridor will function normally even until July 18, but almost 900,000 tons of corn have already been shipped in 12 days of June. For July, 500,000 tons of Ukrainian corn has been contracted, and it is expected that exports in June will exceed 1,000,000 tons. Traders say that the demand for corn is low, and it is difficult to sell it to Egypt or the EU. There is enough supply on the market. The global market is gradually moving into an inactive phase, when buyers of the feed group are already focusing on the new wheat and barley harvest, not corn," the analytical department of PUSK said.

Last week, corn was traded in the conditional range of 170-173 USD/t, but the price tags dropped below 170 USD/t at the end of the week. Average prices at small ports amounted to 167-170 USD/t.

At the end of June, prices may fall below 160 USD/t in shallow water (Reni, Izmail). In the deep-water ports of Odesa, we can expect demand for corn consignments of 1,000-2,000 tons at a price of 156-158 USD/t, smaller consignments will be quoted in the range of 150-155 USD/t.