Corn prices in Ukraine continue to rise, but are limited by reduced demand from Turkey

to UAH 9,400-9,600/t ex-elevator, but the supply from farmers remains low. In Ukraine, about 8% of corn crops remain unharvested, so farmers are hoping for an increase in prices due to the crop shortfall, although the 29 million tons of grain already threshed significantly exceed last year’s harvest of 26.8 million tons. In January, Ukraine exported 2.9 million tons of corn, in 9 days of February – 592 thousand tons (compared to 877 thousand tons last year), and in total since the beginning of the season, exports amounted to only 9.37 million tons (13.27 million tons last year). Due to the very low export rates at the beginning of the season , the USDA reduced the export forecast for Ukraine by 1 million tons to 22 million tons (20 million tons in 2024/25 MY) and increased the estimate of ending stocks. The export window for Ukrainian corn will be open until May, when corn from Argentina and later from Brazil will enter the market. The weather in Brazil is favorable for sowing a ...