Ukraine's corn export jumps sixfold, doubles weekly grain exports

Ukraine’s grain exports more than doubled week-on-week - to 1.8 million mt - in the week ending November 12 on the back of a major upswing in corn loadings, data from the agriculture ministry showed Friday.

Ukraine’s corn exports jumped to 1.05 million mt through the week - six times the volume exported in the previous week and the highest in the current marketing year, reflecting increased supply reaching the ports and a decline on the CPT market during the week.

That pushed total corn exports since July 1 to 3.5 million mt, slightly up compared to the same period in 2020.

In addition to that, around 1.7 million mt are scheduled for loading in the ports, according to the lineup available, with more than a half of that nominated for China.

Wheat exports during the week increased by 60% to 572,000 mt, moving the total to 13.1 million mt, 17% above last year’s result for the same period.

Also, the lineup showed around 840,000 mt of wheat is awaiting loading currently.

Barley exports declined a bit to 120,000 mt, moving the total to 4.6 million mt, 33% up year-on-year.

That leaves only around 1.4 million mt of export surplus, but there are already almost no offers in the market, with traders expecting the balance of the remaining volume to appear later in the season.