Logistics constraints will limit Ukrainian corn exports to the EU

Trade in Ukrainian corn to the EU will remain limited through the end of 2026 due to logistics constraints on both the Ukrainian and European sides. According to Spike Brokers, a shortage of available railcars in the EU and limited transshipment capacity in Ukraine are restricting supply growth and reducing spot market liquidity.

Meanwhile, the forward market for deliveries after the New Year is showing stronger activity. Ukrainian corn loaded into European railcars is trading at €195–196/t for January–March and €197–198/t for April–June.

Ukraine exported 150.7 thsd tons of corn on September 1–10. Turkey was the largest buyer, receiving 45.7 thsd tons.

During the same period, Ukraine shipped 37.2 thsd tons of corn to Italy, 19 thsd tons to Germany, 18 thsd tons to Cyprus and 14.3 thsd tons to the Netherlands.

The potential to increase Ukrainian corn supplies to the EU through the end of the year will therefore depend largely on railcar availability and transshipment capacity, while most market liquidity is shifting toward contracts for the first half of 2027.