ODESA: Bearish USDA October report and favourable weather for corn harvest in Ukraine add pressure on corn prices. Exchange quotations are still high, but purchasing prices in Ukraine have already begun to fall.
In Ukraine, the purchasing prices for corn in ports, against the supply increase, went down by 10-12 $ / t. Currently, costs are kept at 255-259 $ / t or 7550-7800 UAH / t.
As of October 21, Ukrainian agrarians have finished 25% of the cornfields. The result is already almost 9 million tons of corn with an average yield of 5.75 t / ha. This confirms production forecasts at the level of 37-39 million tons. Dry and frosty weather contributes to a decrease in moisture in grain, which speeds up harvesting.
In the nearest future, we will not witness a sharp price decrease. Farmers are too busy with harvesting and winter crops sowing and do not spend much time on selling.
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