This was main question, which got our Chief
ASAP Agri analyst Katheryna Mudriian within BIG-FERT 2024 conference, held on 09-10
October in Vinnytsia.
Corn prices showed some decrease earlier in
the current week, but it was a temporary move. After yesterday’s bombings of
Ukrainian deep-sea ports, as well as after this morning introduction of 5% corn
import duty by Turkey (you can read more info here), corn buying ideas
increased.
As of evening 10 October, they reached 207
USD/MT CPT POC, which is 5-7 USD higher vs. last Friday. Until there will exist
the short-term demand from Turkey, corn prices are restrained from the fall.
Meanwhile, milling wheat prices have been on
the rise and are expected to continue climbing, fueled by expectations of
results of russia’s emergency meeting on 11 October 2024.
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