Yesterday, the commodity and stock world markets resumed active growth in prices, including oil, which amid the rise in wheat prices gave an impetus to corn prices to rise as well. This was reported by ProAgro Group with reference to GrainTrade information.
December corn futures on the Chicago exchange rose by 1.8% yesterday to $227.9/t, adding 7.2% for the month. Increased demand for ethanol remains the main growth driver.
In Ukraine corn procurement prices rose to 7900-8100 UAH/t, or $264-268 $/t, amid shortages in supplies and logistical problems in ports. The cost of transportation by trucks and trains from inland elevators to ports rose by 30-50% to 1100-1500 UAH/t, which almost stopped the delivery of cargo to the port.
As of October 28, 15.6 million tons of corn were threshed in Ukraine from 2.4 million hectares or 44% of area with yield of 6.44 tons/ha.
Producers have suspended sales in anticipation of increased supply of vehicles, which now carry grain from fields to elevators, and later will transport it to ports, which will slightly reduce the cost of delivery.
