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A cargo of 15,000 mt of Ukrainian corn traded at $177/mt CIF Marmara for December loading, below recent Russian-origin trades at $178-180/mt. Black Sea coaster vessel shortages pushed freight from Russia to Marmara to $44/mt.
Higher freight costs are shifting Turkish corn buying toward Ukraine, which supports Ukrainian corn export demand and firms CIF corn prices into Turkey. Freight is the main driver of the price spread between origins.
unian.infoOct 31, 2017After 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.
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.
