Demand for corn in Ukraine remains high, and prices await the US harvest forecast for the new season

In Ukraine, strong demand for corn from exporters continues, so prices have risen again to $230/t delivered to the port. In addition, the resumption of oil price growth and forecasts that prices for petroleum products and fertilizers will remain at a high level until the end of the year continue to push up commodity prices.

During the week, export prices for corn in Ukraine remained at 11,350-11,400 UAH/t or $226-230/t with delivery to Black Sea ports, and buyers pay a premium for fast deliveries by road.

For 8 days in May, corn exports from Ukraine amounted to only 526 thousand tons (compared to 1.26 million tons last year), and in total in the 2025/26 season it reached 17.5 million tons (19.8 million tons last year).

In Ukraine, as of May 11, 2.4 million hectares or 54% of the planned area had been sown with corn, while last year at this time 89% of the area was sown, but improving weather will allow work to be accelerated.

High corn planting rates and favorable weather conditions in the US could lead to an increase in the US corn production forecast for the new season. Today, the USDA will release its May world balance, which is not expected to change significantly.

According to NASS Crop Progress, as of May 10, 57% of the planned area has been sown with corn in the US, which is 5% higher than the 5-year average (52%).

Over the past week, July corn futures in Chicago fell by 2.3% to $187/t (+7.8% month-on-month), while December futures fell by only 1.4% to $196/t (+5.7% month-on-month).

Favorable rainfall in southern Brazil is improving the condition of the second crop of corn, so now the main attention will be focused on weather conditions in the US and Ukraine.