Argentina Rises as Ukraine's Corn Market Falters Amid Russian Attacks

Ukraine's corn market is facing significant challenges due to Russian attacks on port infrastructure in the Odessa region. As a result, Ukrainian corn exporters are experiencing serious logistical difficulties, leading to a decrease in shipments by 52% last month.

Argentina has taken advantage of this situation and is increasing its corn exports to North African countries, which have traditionally been important markets for Ukrainian exporters. In August-September, Argentina may supply up to 10 million tons of grain to external markets, one of the highest figures in history.

The drought and high temperatures in Europe are also affecting transportation, as water levels in certain sections of the Danube River have decreased, limiting possibilities for transporting grain through this route. Ukrainian corn exporters are having to redirect some cargoes to overland routes and through Danube ports, which have lower capacity than seaports.