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Constrained Ukrainian logistics are expected to keep supporting prompt corn prices over the next two months, delaying shipments to ports. Ukrainian spot corn averaged $277/t fob in October-November, about $50/t above a year earlier.
Record Ukrainian corn and wheat crops are expected to strain the rail and port system from December to January.
Logistics bottlenecks hold up nearby Ukrainian corn prices while likely creating oversupply in March-April 2022, when Argentine new-crop corn arrives, so buyers should expect firm spot prices followed by weakness later.
ukragroconsult.comDec 9, 2021After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
