Ukraine corn prices soaring on Chinese demand for ethanol

In the Ukraine, Platts reports that corn prices are soaring on the back of China’s ethanol drive and increased demand from Egypt, pushing prices up beyond $200 per metric ton during much of March, hitting a 20-month high on March 12 of $209/ton. Late April and May typically brings higher prices for corn as stocks tighten and the market waits for the harvest to bring prices back down, but increasing demand along with stronger prices in Argentina and the US could see prices continue to rise earlier and higher.