Головна Horticulture Grain China and Turkey bought large batches of Ukrainian corn

China and Turkey bought large batches of Ukrainian corn

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At the end of last week Chinese importers made significant purchases – from 300 to 700 thousand tons – of feed corn of Ukrainian origin. And on Monday at the international tender Turkish State Grain Council TMO bought about 325 thousand tons of feed corn, which, according to traders, is also mostly of Ukrainian origin.

This is reported by ProAgro Group, citing Reuters.

Shipment of grain to China will be held in January-March 2022, the purchase price amounted to 330-345 $/ton on the basis of C&F with delivery to the buyer’s port). Analysts and traders point out that corn prices in the country have reached many-month highs despite its own good harvest. However, as in Ukraine, rainy weather has led to excessive moisture content in grain and record energy prices have increased costs for its drying and internal logistics.

At the same time observers are a bit surprised that China bought corn in Ukraine and not in the US, where the prices are still lower on terms of delivery to the ports. However, there are rumors that the Chinese increasingly dislike the American system of informing about the export sales, in which the increase of contracting instantly leads to the rise of supply prices.

As for Turkey, it bought corn cheaper, from 312.2 to 317.9 $/ton with delivery to the ports, which is explained by the shorter transport leverage, and thus lower delivery costs, as well as the earlier shipment dates of the grain, from December 20, 2021 to January 20, 2022.

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