Loading…
Weak demand for staple corn in Ukraine and aggressive South American competition are pushing down prices for handy-sized cargoes. Panamax-capable ports are holding higher offers, with a price gap that has widened from $1-2/mt to $3-7/mt as China and Iran seek larger parcels.
Handy-size offers at smaller ports were about $261-265/mt FOB for April loading.
Price gaps between port types show that smaller Ukrainian corn cargoes are under pressure from South American supply. Larger-vessel demand from China and Iran is holding up premium cargoes.
fastmarkets.comMasha BelikovaMar 19, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
