Corn in Ukrainian ports has lost value amid Russian attacks on the Odesa region

Corn in Ukrainian ports has lost value amid Russian attacks on the Odesa region


Against the backdrop of disruptions in sea shipments, feed corn indicators on the FOB Black Sea basis have decreased by another $1–3 per ton.

This week, the Ukrainian market has maintained a downward trend for corn. This is reported by APK-Inform.

The key factor is the slowdown in sea exports due to the systematic attacks of the Russian Federation on port and energy infrastructure, which causes disruptions in the operation of terminals and ship calls schedules and restrains importers’ demand.

Despite the fact that corn remains the most active export crop of Ukraine, this is not enough to neutralize the pressure on prices.

Indicative demand/supply levels for feed corn for delivery in December–January from Black Sea ports have dropped to $210–218/t and $214–222/t, respectively — minus $1–3/t per week.

The short-term outlook depends on the stabilization of port operations and energy supply: without improved logistics, price pressure on FOB will continue.

As USM wrote the day before, three more vessels were damaged by a Russian attack on the night of December 26.