Ukraine's corn exporters anticipate a consistent stream of exports in 2024, leveraging new routes via the Danube and the Black Sea corridor. While the opening of the marine corridor has eased financial pressures on farmers, logistical challenges, crowded port terminals, and attacks on Danube berths by Russia persist. The price of Ukrainian corn has risen to around $158/mt in December, reflecting increased demand. However, logistical bottlenecks and new export regulations may cause delays in 2024. Ukraine is projected to harvest around 27 million mt of corn in MY 2024-25, a decline of 3 million mt YoY, with the Black Sea corridor playing a crucial role in exports. The EU, facing domestic production challenges due to heatwaves and droughts, looks to Ukraine and Brazil as major corn suppliers in MY 2024-25. Political tensions over Ukraine's duty-free access to the EU market and potential transit limitations could impact exports. War risks in Ukraine's ports make FOB trades undesirable, while CIF trades remain lucrative. Corn exports from Romania and Bulgaria command higher premiums, and Platts assesses FOB CVB corn at $221/mt on Dec. 15, down 26% YoY.

SOURCE:GOOGLE