S&P Global Platts: Ukrainian maize to slide below US$160 per ton as US maize tempts buyers
24.09.2018 21:07 "Agro Perspectiva" (Kyiv) —
As of now, the lack of buyers on the global market has resulted in almost daily losses for the price of Ukrainian maize, as sellers attempt to remain price competitive, UNIAN says referring to the S&P Global Platts report.
As to the report, the Ukrainian maize is expected to slide to below US$160 per ton, possibly as low as US$150 per ton, within the next few weeks, as it struggles to compete with the US maize on price. In meanwhile, the competitiveness of the US maize has kept the arbitrage route from the US to buyers in the Middle East, North Africa and Asia open. The lack of buyers on the global market has resulted in almost daily losses for the price of a Ukrainian maize, as sellers attempt to remain price competitive. Ukrainian maize, as assessed by S&P Global Platts, has shed US$30.50 per MT within the last five weeks.
However, despite the gloomy short-term picture, many experts are hopeful that tighter global shipments and demand fundamentals will absorb any excess maize within the long run.