Grain and oilseed prices at ports decline after recent increases

Quotations for corn, wheat and oilseeds in the ports of Great Odesa decreased by $1-2 per ton compared to yesterday’s levels.

The Ukrainian grain and oilseeds market recorded a moderate decrease in prices after an increase at the beginning of the week. This is reported by analysts at Spike Brokers.

According to CPT Odesa, as of September 3, corn costs $207/t versus $208 a day earlier. Wheat with 11.5% protein decreased to $218/t (was $220), feed remains at $203/t. The price of GMO soybeans amounted to $396/t versus $398.

According to brokers, the market remains under pressure from high supply and restrained demand from exporters. The dynamics of recent days indicate that the peak price levels at the beginning of the week did not hold, and further quotations will depend on the pace of exports by sea.

Meanwhile, due to military risks, vessel traffic in the waters of the port of Chornomorsk was temporarily restricted.