The export situation has been complicated by both power outages and lower activity of European companies due to the long vacation vacations and weekends in Europe, which negatively affects the efficiency of cargo handling.
Unchanged factors of domestic conjuncture pressure, expensive and overloaded logistics, as well as decrease of world quotations (especially on Euronext exchange) had an influence. This was somewhat offset by a reduction in supply, the complexity of elevators and, consequently, wet corn processing. Some support was rendered by the prospects of agricultural production reduction in Ukraine next season, as well as quite a difficulty for the agrarians against the background of growing costs of all crops without exception. More significant decrease of prices was limited by USDA decrease of world production of wheat and maize in 2022/23 MY (the latter mostly due to Ukraine — from 31.5 to 27 million tons).
More than 30% of Ukrainian corn remains unharvested in the fields, which raises concerns about the decline of its quality characteristics. Prices were further pressured by strong exports of Brazilian corn, but were supported by further deterioration in prospects of crops of wheat and corn in Argentina as a result of the largest drought in a decade.
Demand prices for maize on the border with Poland, Slovakia and Romania with delivery in January-February dropped to 190−215 EUR/t DAP last week and only with Hungary reached 230 EUR/t DAP. Demand prices in the Romanian ports of Constanta and Dorneşti for food wheat remained under pressure but did not change significantly, amounting mostly to 290−300 and 245−255 EUR/t DAP, and for maize to 265−280 and 220- .
This week, a downward trend is fixed on the background of moderate demand. For example, high-protein wheat is in demand mainly only in the Baltic States.
PigUA.info by agravery.com