KYIV, Feb 3 – About 30% of Ukraine’s futures contracts for corn in the 2020/2021 marketing season will probably not be delivered as some farmers will cite COVID-19 emergency as the reason to get out of the contracts, Mykola Horbachev, President of the Ukrainian Grain Association (UGA), said.

The futures contracts were originally signed for between 6 and 7 million metric tons of corn in 2020/2021, but about 2 million mt will probably not be delivered as farmers will try to sell corn at higher spot prices.