ODESA: Corn prices are under the influence of solid supply and forecasts of increased demand. However, a new wave of coronavirus may reduce the need.
The price of oil, the coronavirus, logistics problems, large harvest and strong demand – all these factors are regularly pulling the prices of corn up or down.
In Ukraine, the purchase prices for corn at the beginning of the week rose in ports to 72-277 $/t. Then they began to decline against the background of offers increase.
Logistic problems with shipments to the port have recently forced traders to raise prices to close November contracts. However, the situation on the railway is starting to improve. In addition, most large companies have sufficient corn stocks in ports, so they began to lower the prices.
At the moment, purchasing prices for yellow corn in main ports range from 265 $/t to 270 $/t.
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