The source states that the Argentine market reflects the fall pressure in Chicago more limited due to favourable conditions for South American corn. The weakening of Ukraine's export outlook due to logistical restrictions in the Black Sea has elevated Mercosur, led by Brazil and Argentina, to a more significant position in the world's corn supply.
The USDA's monthly report reduced Ukraine's exportable corn supply forecast for the 2026/27 season from 22.0 million tons a month ago to 20.0 million tons. USDA technicians in Kiev, on the other hand, assess that Ukraine can actually export only 10.2 million tons due to restrictions in the Black Sea.
Argentina's record harvest enabled the country to achieve competitive corn FOB values. The official FOB price for December shipments was $205/ton, while the theoretical FAS price was approximately $175/ton. Argentina's corn shipments announced in November reached 3.38 million tons, placing it first in the logistics ranking.
