Ukraine surpassed last year’s corn export rate for the first time this season
Ukraine’s December corn exports surpassed last year for the first time this season, reaching 824,000 tonnes. Europe absorbed 48%, led by Italy and Spain, while the Middle East took 38%, mainly Turkey. Port prices stayed stable despite bearish sentiment and logistical risks.
The rate of corn exports in December exceeded last year’s figures for the first time since the beginning of the season. Ukraine exported 824 thousand tons against 766 thousand tons last year. This is reported by Spike Brokers.
The main direction remained Europe – 393.5 thousand tons (48%), with a focus on Italy (206.7 thousand tons) and Spain (119 thousand tons). The Middle East formed 310.3 thousand tons (38%), mainly due to Turkey (272.4 thousand tons). Deliveries to Asia and North Africa were limited – 6% for each direction.
“Prices at seaports remained stable, despite the prevalence of bearish sentiment. Ports are provided with raw materials and have sufficient capacity, however, weather risks and attacks on infrastructure may restrain shipments,” the report says.
The spot index for corn delivered to port within 30 days held at $207.
Exports through the western border are increasing, with a potential of up to 1 million tons per month. Prices for January-February have decreased to €184-186 FCA Chop.
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