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FOB Ukraine corn reached parity with 12.5% protein Russian wheat at about $208/mt, according to Black Sea trading sources. Firm corn values reflect farmer holding and fears over Argentina's corn crop, with China still buying Ukrainian cargoes.
The EU's removal of grain import duties may also be supporting buying interest.
Corn pricing reaching wheat parity narrows the feed cost advantage of corn and may limit further gains. Strong Chinese and EU demand supports Black Sea corn prices in the near term.
customstoday.mediaCT ReportMar 13, 2018Not enough comparable past events yet for a historical read.
Not 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.
