Ukrainian corn is losing ground on international markets due to cheap American corn
Purchase prices for Ukrainian corn continue to decline due to weak demand from exporters, falling wheat prices, and pressure from cheap grain from the United States, according to the specialized publication AgroReview.
Currently, export prices for corn in Ukraine are $225–228 per ton, and for feed wheat – $210–214 per ton.
Some traders are temporarily holding prices higher to fulfill contracts signed by the end of May or early June.
According to the publication, large international traders have actually suspended purchases of Ukrainian corn, waiting for new profitable offers.
Increasing corn supplies from the US and South America at lower prices are also complicating the situation. For example, in just one week (from May 8 to 15), the US exported 1.72 million tons of corn – 32% more than the week before.
Mexico remained the largest buyer. This is due to the desire of importers to have time to purchase grain before the end of the 90-day deferral of US tariffs.
Overall, US corn exports have already reached 45.5 million tons, up 29.2% from the same period last year.
To meet the USDA forecast of 66 million tons by the end of the season, weekly exports must be at least 1.5 million tons, which is complicated by the expected increase in supplies from Argentina and Brazil from July.
Against this background, corn futures in Chicago are rising: July futures – up to $176.2 per ton, in December – up to $173.9 per ton. American grain remains the cheapest on the world market.
In Ukraine, the pace of exports has slowed down. In May 2025, corn exports amounted to only 1.26 million tons, while last year they were 2.36 million. The total for the season was 19.8 million tons compared to 25.3 million last year.
At the same time, by the end of the marketing year, Ukraine may reach the USDA forecast of 22 million tons.
The corn sowing campaign is ongoing. So far, 3.5 million hectares have been sown – 87% of the plan. This is almost the same as last year. Strong downpours and high market prices may even increase the area beyond the planned one.
With favorable weather and increased supply, corn prices may drop to $215–220 per ton delivered to the port in early June, bringing them closer to the level of international tenders for July-August.
- In April 2025, 4.1 million tons of agricultural products were exported from Ukraine, which is half the amount in April 2024.
- On May 14, the Financial Times wrote that the European Union is going to significantly restrict imports of Ukrainian agricultural products, in particular corn, sugar, and poultry meat, in the near future.