Ukraine Misses Out on Corn Price Boom as Export Uncertainty Bites

Ukraine's inability to capitalize on high corn prices in the EU is due to uncertainty over resuming grain exports from Ukrainian Black Sea ports by the end of the year. The halt in seaborne exports has led to a sharp increase in stock market quotes and a decrease in domestic corn prices in Ukraine.

The demand for feed corn delivered to Danube ports remains at $175-180/t, but most buyers are focused on deliveries to western borders, where prices are as high as $205-208/t. This has supported domestic corn prices in the western regions at around $7,500-7,800 UAH/t.

New crop corn is being offered at $235-240/t for delivery in November-December, but European buyers have sufficient supply to cover their deficit thanks to Argentine and American corn being sold at $280-290/t CIF Italy or Spain.