Corn prices in Ukraine are falling due to lack of export demand, and June quotes in Paris fell by 4.8% in one day

There is practically no demand for expensive Ukrainian corn on the world market, so traders have stopped purchasing new batches, and only a few companies are purchasing the volumes necessary to fulfill contracts, while prices continue to actively decline.

Export demand prices for corn fell to $225–227/t or UAH 10,400–10,600/t with delivery to the port, but subject to prompt delivery by June 10–15.

It is worth noting that prices for the new corn crop have dropped to $195-200/t amid favorable weather in the US, Ukraine, and the EU.

The Ministry of Agrarian Policy of Ukraine estimates the country’s corn harvest in 2025 at 26 million tons, which is lower than the USDA’s first forecast of 30.5 million tons.

As of May 30, 3.94 million hectares or 98% of the planned area has been sown with corn in Ukraine, and the total sowing area may reach 4.2 million hectares. Weather conditions are still very favorable for the development of crops.

In the MY 2024/25  (as of June 2), corn exports from Ukraine amounted to 20.58 million tons (26.6 million tons last year) out of the 22 million tons forecast for this season.

It is worth noting yesterday’s sharp drop in June corn futures on the Paris exchange by 5.8% to €185/t or $210/t (-8.1% for the week), which demonstrates low demand for corn before the expiration (end) of the contracts on June 10.

Quotations for the new corn crop in Paris fell by 1.6% to €197.5/t over the week, despite the European Commission lowering its forecast for the EU corn harvest in the MY 2025/2026 from 65 million tons to 63.8 million tons, which will still exceed the 59.3 million tons of the 2024/25 season.

The completion of corn planting in the US under optimal weather conditions is increasing pressure on quotes, so July futures in Chicago fell by 5% to $172.6/t in a week (-3.7% in a month).

As of May 1, 93% of the planned area in the US has been sown with corn, which corresponds to the 5-year average, and the number of crops in good or excellent condition increased by 1% to 69% per week (75% last year).