Corn at the crossroads of supply and demand

In brief: • The strengthening euro is putting new pressure on prices • Turkey increased duty-free import quotas for corn and barley Corn prices rose last week in both the physical and futures markets. Ongoing delays in corn deliveries from Ukraine have provided short-term stability and rising corn prices in Europe. In the current situation, feed grain buyers are closely monitoring the price difference between corn and other available feed grains, while on the other hand, the strengthening euro (again approaching the 1.16 mark) is exerting additional pressure on the price development. The Euronext contract for November 2025 expired on Friday, making the March 2026 contract the first trading option. It is currently trading at around 189.50 euros/ton. In terms of volumes, the German Raiffeisen Association (DRV) estimates the 2025 corn harvest in Germany at 4.7 million tons (or a 3.5% decrease compared to the previous year). According to the association, the decline is due to ...