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AMIS Market Monitor

last release: 7 March 2024

International Prices

Maize

The downtrend in maize export prices gathered steam in February, the GOI sub-Index dropping by an average of 10 percent, to its lowest since August 2020. Losses in the US were mainly driven by supply-side considerations, including large domestic stocks and expectations that combined output in Brazil and Argentina would be larger than last season. Quotations in Argentina eased as traders tried to stimulate demand ahead of the next harvest. Nearby values in Brazil were similarly soft, albeit deemed highly nominal. With export routes from Ukraine functioning, there were regular offers for competitively-priced maize shipments out of the country's deep sea ports.