Corn prices rise at Romanian and Bulgarian ports while declining in Ukraine

Corn prices at Black Sea ports in Romania and Bulgaria increased over the past week, while Ukrainian corn continued to decline amid growing new-crop supplies and limited export opportunities. According to Fastmarkets, corn prices on an FOB Constanta–Varna–Burgas (CVB) basis rose by €2 per ton to €245 per ton. Meanwhile, Ukrainian corn prices on an FOB Danube basis fell by $5.50 per ton to $176.50 per ton.

Wheat prices at EU Black Sea ports showed the opposite trend. Wheat with 11.5% protein on an FOB Constanta–Varna–Burgas basis declined by $11 per ton over the week to $281.50 per ton, while 12.5% protein wheat fell by $9 per ton to $290 per ton. Feed wheat prices dropped by $5 per ton to $254.75 per ton. Meanwhile, Bulgaria’s corn production had reached 1.5 mln tons as of October 15, nearly doubling from the previous year.

In Ukraine, grain prices remained under pressure from harvest progress, increasing domestic supplies and logistical constraints. As of October 22, Ukrainian 11.5% protein wheat on an FOB Danube basis had declined by $2.50 per ton over the week to $191.50 per ton, while feed wheat lost $4 per ton to $177 per ton. At the same time, corn demand in western Ukraine was supported by competition between domestic consumers and exporters redirecting shipments toward western border crossings.

Concerns over lower-than-expected yields provided some support to the Ukrainian corn market. Government officials have indicated that the 2026 production forecast could be revised downward from the current estimate of 30 mln tons. In addition, high drying costs, logistical restrictions and low profitability could lead farmers to reduce corn planting areas by as much as 50% in 2027, posing risks to future production and export potential.

Meanwhile, downward price pressure prevailed in the global corn market. December corn futures on the Chicago Mercantile Exchange fell by 2.89% over the week to $4.60 per bushel. Prices were weighed down by progress in the US harvest, favorable weather conditions and declining export shipments. As a result, corn prices at Romanian and Bulgarian ports rose despite falling regional wheat prices and broader weakness in global grain markets.

Tags: wheat, ports, Ukraine, Bulgaria, corn, Romania, prices