Farmers Increase Corn Sales, But Prices Remain High

After January 10-15, Ukrainian farmers traditionally ramp up corn sales; however, this year, due to significant frosts, the shipping rates remain lower than usual. This supports a high price level for the grain crop.

This is reported by AgroReview

Impact of the Dollar Exchange Rate and Export Conditions

Last week, the decline in the dollar exchange rate on the interbank market from 43.56/43.59 to 43.15/43.2 UAH/dollar halted the rise in purchase prices for corn in the national currency. At the same time, export prices increased by 1-2 dollars per ton, reaching 205-206 dollars per ton, equivalent to 10,000-10,150 UAH/ton delivered to Black Sea ports.

Global Trends and Market Prospects

March corn futures on the Chicago exchange remain at their lowest level since August — 166 dollars per ton. Traders do not expect a significant price correction at least until the end of February, until the first forecasts for corn planting areas in the U.S. for 2026 are released.

“The decline in the dollar exchange rate on the interbank market over the week from 43.56/43.59 to 43.15/43.2 UAH/dollar halted the rise in UAH purchase prices for corn in Ukraine, but export prices increased by 1-2 $/ton to 205-206 $/ton or 10,000-10,150 UAH/ton delivered to Black Sea ports.”

Some support for quotations may come from hot weather in Argentina, which could potentially worsen harvest prospects. However, due to the expansion of planting areas, this year’s harvest is estimated at 53-62 million tons, exceeding last year’s result of 50 million tons.

It is expected that rising temperatures will allow for the resumption of corn harvesting in Ukraine and increase the supply of cheaper, particularly damaged, grain. This, in turn, may put pressure on domestic prices.