Corn prices decline in response to falling wheat prices

At the end of last week, wheat prices continued to decline as weather risks for the upcoming harvest in major exporting countries gradually diminished. The lack of new factors that could support prices also contributed to this process. In particular, the December wheat futures on the CBOT exchange in Chicago on Friday fell by $6.2, reaching 210.4 $/ton, while on EURONEXT in Paris the price decreased by $3.3 to 246.1 $/ton.

This information is provided by ProAgro Group according to Barva Invest. The continued decline in wheat prices on the Ukrainian market is also noted, accompanied by a further slowdown in trade. Grain with a protein content of 11.5% was sold at the level of 206-210+ $/ton for DAP-Danube ports and 206-211+ $/ton for DAP-deepwater ports.

At the same time, corn quotations also showed a slight decline, which was a response to falling wheat prices and the active progress of the harvest in the Northern Hemisphere. In Chicago, the price of the December corn futures decreased by $0.8, reaching $159.4/ton. In Paris, the November contract fell by $0.1 to $229.8 per ton.

The decline in prices for Ukrainian corn continues to be under pressure from foreign markets. In the Danube ports, corn was traded at 198-203+ $/ton DAP, and in the deep-water ports the price was 193-200+ $/ton DAP.

This situation on the market indicates that the prices of grain crops remain under pressure, which may affect future supplies and strategic decisions of agricultural producers. Experts believe that it is important to follow the trends on the international markets, as they can significantly affect the domestic prices.

Thus, the dynamics of corn and wheat prices emphasizes the importance of adapting to changes in the market, which may be critical for Ukrainian agricultural producers in the current environment.