For the Quarter Ending September 2022
North America
In North America, the price of Maize is fluctuating throughout the Q3 of 2022, and support comes from the erratic buying and supply trends in the local market. As corn is just one of several agricultural items whose prices have lately climbed, in part due to the situation in Ukraine, the prices were rising during the first half of Q3. Due to supply chain disruptions and high transportation costs, which are factors in general economic inflation, there was some upward pressure on agricultural items even before the conflict. With the start of the second month of Q3, prices fell because of slightly better crop conditions in the US, seasonal supply in Argentina, and the impending beginning of Brazil's primary maize harvest. Moreover, because of the war problem and the limited supply, prices rose in the final month of the quarter. Towards the end of Q3 2022, the price of Maize was recorded to be USD 340/MT FOB Los Angeles in September 2022.
Asia Pacific
In Asia Pacific countries, the price of Maize is fluctuating throughout the Q3 of 2022 due to instability in market dynamics. The deal caused prices to spike in India during the first half of Q3 because supplies from Ukraine, the fourth-largest supplier of Maize globally, were delayed due to Russia's invasion. The fighting, which has also interfered with the spring sowing season, has caused uncertainty about Ukraine's trustworthiness as a supplier. Russia is the main source of grains for India's imports, and Ukraine has been a big buyer of Ukrainian corn. India began Q3 with prices declining in the second month since there were sufficient supplies on the domestic market. Due to a lack of products to meet consumer demand in the final month of the quarter, prices climbed. Towards the end of Q3 2022, the price of Maize was recorded to be USD 267/MT Ex-Kottur in September 2022.
Europe
In Europe, the price of Maize is fluctuating throughout the Q3 of 2022 due to instability in market dynamics. In the first half of Q3, prices were rising for several agricultural products, including corn, which has seen a recent increase in price, partly because of the situation in Ukraine. Even prior to the conflict, there was some upward pressure on agricultural products due to supply chain interruptions and high transportation costs, both of which are contributors to overall economic inflation. Prices dropped as Q3's second month got underway due to marginally better crop conditions in the US, a seasonal supply in Argentina, and the upcoming start of Brazil's main maize harvest. Prices increased in the last month of the quarter because of the war crisis and the tight supply. Towards the end of Q3 2022, the price of Maize was recorded to be USD 320/MT for FOB Marseille in September 2022.
For the Quarter Ending June 2022
North America
In North America, the price of Maize is fluctuating throughout the Q2 of 2022, backed by the mixed buying and supply sentiments in the domestic market. During the first half of Q2, the prices were increasing as Corn is just one of many agricultural products whose prices have increased recently, partly as a result of the conflict in Ukraine. Even before the conflict, there was some upward pressure on agricultural goods due to supply chain interruptions and high transportation costs, which are factors in overall economic inflation. On entering the second half of Q2, the prices decreased due to slightly improved crop conditions in the US, seasonal supplies in Argentina, and the imminent start of Brazil's main maize harvest led maize prices to decline.
Asia Pacific
In Asia Pacific countries, the price of Maize is fluctuating throughout the Q2 of 2022 due to instability in market dynamics. During the first half of Q2, prices soared in China as a result of the agreement as supplies from Ukraine, the fourth-largest maize exporter in the world, were delayed as a result of Russia's invasion. Insecurity about Ukraine's dependability as a supplier has arisen as a result of the war, which has also hampered the spring planting season. China had been a significant consumer of Ukrainian Corn. Due to falling prices in the second half of Q2, China started using genetically modified Maize. Since 2019, a number of genetically modified maize and soybean varieties have been granted the safety certificate. It has been the "variety approval" that has been absent. That obstacle was now overcome in June.
Europe
In Europe, the price of Maize is decreasing throughout the Q2 of 2022, owing to the decrease in demand from the market traders. There was less demand from the domestic household for their bird feed. In addition, since the invasion of war, the European traders haven't been able to sell any grains at all. The invasion of war led to a decrease in demand from the downstream industries, including the starch, which is used as a source of fundamental raw materials such as alcoholic beverages, food, sweeteners, cosmetics, biofuel, and other products. Due to the ongoing war, high inventories in the market have led to stockpiling of the product.
For the Quarter Ending March 2022
North America
In North America, the prices of Maize fluctuated upwards by the end of this quarter. At the beginning of Q1 2022, the prices slightly fluctuated due to adverse climate conditions creating supply uncertainty, leading to a tight global supply market. At the onset of the second half, the prices surged due to the Russia-Ukraine war crisis and associated shipping disruption at the Ukraine port, suspending Ukraine ports and disrupting the global food supply chain. Also, China increased imports from the US, creating a supply-demand imbalance in the regional market. Towards the end of Q1 2022, the price of Wheat was recorded to be USD 362/ton FOB Texas (USA).
Asia Pacific
In the Asia-Pacific region, the prices of Maize were stagnant in Q1 2022. At the onset of Q1 2022, the prices slipped down slightly owing to favorable weather and a good harvest. With higher inventories, the supply-demand market was running normally. The prices rose significantly at the end of the first half, led by the Russia Ukraine war crisis. As the situation worsened, Ukraine halted its production units, creating pressure on the other Asian manufacturers to export Maize with the surging demand in industries for feed, globally. Towards the end of Q1 2022, the price of Maize was recorded to be USD 275/ton Spot Ex-Karnataka (India).
Europe
In Europe, the prices of Maize hovered on the upper side owing to varying factors, likely labor shortage, Russia Ukraine geopolitical conflict. At the commencement of Q1 2022, the prices dropped as the demand-supply market was regular with a strong export market. The prices surged sharply towards Q1 2022 termination. Ukraine, the world’s vital growing area, faced stifled supply due to a war crisis as a result of production halt in Ukraine, labor scarcity, and infrastructural damage. Also, the resurgence of the pandemic resulted in prolonged disruptions. Towards the end of Q1 2022, the price of Maize was recorded to be USD 387/ton FOB Marseille (France).
