Export problems push Russian corn prices down 24%

Export logistics problems are increasingly affecting not only the wheat market but also other grains in Russia. In August 2026, purchase prices for corn on a CPT basis stood at RUB 13.9–14.8 thsd/t (around $162–172/t), down 24% year-on-year. In southern regions, prices fell as low as RUB 12–13.4 thsd/t ($140–156/t).

Difficulties with grain exports have become one of the key factors weighing on the market. Limited shipment capacity is leading to an accumulation of grain on the domestic market and increasing competition among sellers. As a result, export problems that had previously been most visible in the wheat market are now spreading to corn.

Expectations of a large crop are adding further pressure. Russia’s corn production in 2026 is forecast at 15.7–17.2 mln tons, which could further increase domestic supply if export opportunities remain limited.

Export duties are also affecting the market. At the end of August, the corn export duty reached RUB 607.3/t (around $7/t), further weakening the economics of exports at current global prices.

According to IKAR estimates, average corn purchase prices in southern regions could fall to RUB 11.5–13 thsd/t (around $134–151/t) in October-November. A price recovery is expected to depend primarily on the normalization of export logistics and a possible removal of export duties.

Tags: Russia, corn, export, prices, restrictions