Ukrainian Jul 1-Jan 13 corn exports to EU up 149.6% on year, Brazil staggers

15.01.2019

Ukrainian corn exports to the EU between the start of the marketing year July 1, 2018, and January 13 were up 149.6% on the year to 6.52 million mt, EU Crops Market Observatory data showed Monday.

Meanwhile, Brazil remains the No. 2 exporter to the EU after Ukraine. Year on year, its total exports to the EU fell 17.6% to 3.66 million mt.

The EU is expected to import around 23 million mt of corn this marketing year, 5 million mt more on the year as prolonged heat and drought this summer has led to lower domestic corn yields in the EU.

Market participants are expecting the EU's buying interest to accelerate from January onward as stocks are consumed in December.

Similarly, market participants are expecting Ukrainian corn prices to rise as demand from traditional and non-traditional buyers has returned, adding further strain on already tight internal logistics.


spglobal.com

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