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“In Argentina, offers for January fell by 3 c/bu”
According to what TF Agroeconomic reported, corn prices fell in all areas of the international market at the beginning of the week. “In terms of the physical market, while offers for US corn for January shipment remained static at 140 c/bu over March futures for the first half of the month and 145 c/bu for the second half, negotiations were likely completed at lower levels compared to last week, as more volumes flow into the port after the end of the harvest”, he comments.
“As a result, May prices in the Gulf were assessed down 2 c/bu with values in the PNW assessed at 2 c/bu along the curve through August,” he adds.
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In Argentina, January offers fell 3 c/bu to 157 c/bu over March futures, with February offers falling sharply 10 c/bu to 150 c/bu over the same contract in the face of limited demand and expectations for a new, stronger harvest starting in March. “And in Brazil, offers for July were heard at 93 c/bu over the July 2021 contract, a drop of 2 c/bu on the day without offers reported by the press team”, he indicates.
“The new week started quietly in Ukraine, with FOB and domestic prices showing almost no change. December-January loading corn offers remained stable around US$ 235/t FOB HIPP, while buyers submitted offers around the DE 228-$230/t FOB HIPP mark. Furthermore, offers for December loading corn with Chinese documents were heard from US $ 238 /t FOB PIPP, while the buyer's idea was also heard at around US $ 230 /t FOB PIPP”, he concludes.
By Leonardo Gottems | AGROLINK
