Ukrainian corn falls below $200/mt to two-year low as logistics costs rise

Ukrainian corn prices have fallen to their lowest level in two years, as logistics constraints and high transport costs weigh on export flows, market sources said.

Platts, part of S&P Global Energy, assessed Ukrainian corn at $199/metric ton FOB POC on Nov. 2, down $24/mt from $223/mt on Oct. 2. The assessment last fell below $200/mt on Sept. 3, 2024.

Traders attributed the drop below $200/mt to the high cost of moving cargoes out of the country. Logistics costs to export Ukrainian corn via Constanta are “closer to $100/mt,” according to a seller, forcing farmers to lower their prices to secure sales.

“Ukrainian farmers may sell at low prices, as logistics to CVB from Ukraine is expensive too,” a Kyiv-based seller said.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →