Chinese buyers sourced 200,000 tons of corn from Ukraine this week. China had already bought wheat in France last week, an unusual process, as traders in Europe report.
They assume that Ukraine will deliver a total of 500,000 tons of corn to China. China regularly buys maize in the Ukraine, but the corona virus and the phase 1 deal with the United States have left traders astonished at the new deals with European suppliers.
Corn from Ukraine costs around $ 180-182 / to fob or $ 212-215 / to c & f for deliveries in February and March. China is the largest customer for Ukrainian corn and also for sunflower oil. At the end of January, 208,000 tons of maize had already gone to China from there.
Buying wheat from France for delivery in the first half of 2020 is an unusual business. China also committed a month ago to the United States to buy significantly more US agricultural commodities.
Source
HANSA Terminhandel
