A difficult corn harvesting campaign is underway in Ukraine. As of the end of November, farmers have threshed almost 21 million tons of grain, but about a third of the harvest still remains in the fields. The largest delays are recorded in the northern and western regions.

Despite the improvement in weather conditions, the rate of corn entering the market remains limited. As explained by the analytical department of the PUSK cooperative, created within the framework of VAR, the main problem is high grain moisture. “To bring the corn to the required parameters, it is necessary to remove 10–12% of moisture. This significantly slows down the operation of dryers. Therefore, elevators report a lack of capacity and ask not to temporarily bring in new batches of grain,” the analysts note.

In the market, prices remain consistently higher than forward prices. Spot quotes stand at $211–212 per ton (10 100–10 200 UAH/ton) and show a tendency for gradual growth. “We are seeing a slow but stable upward movement. Prices may add $1–2 per ton weekly,” PUSK forecasts.