Ukraine Corn Exports Slump Amid Ongoing Conflict

Ukraine's new-crop corn export prices have continued to decline since the beginning of this week, according to APK-Inform. The market for feed corn remained subdued, with overall trading activity at a minimum due to Russia's systematic attacks on Ukraine's deep-water ports.

This has limited liquidity to the domestic market and exports via the western border, resulting in sharply fallen prices. Indicative bid prices for new-crop corn for October-December delivery were quoted at $220-222 per ton FOB, down $5-7 per ton from last week's end.

On a DAP border basis, prices fell by EUR 6-7 per ton to EUR 168-174 per ton for October-December delivery. The situation remains driven by the ongoing conflict and its impact on Ukraine's export capabilities.