Ukrainian corn prices remain at $220–225/t, despite Turkey new duty-free quota

Turkish President Erdogan signed a decree introducing a quota for duty-free imports of 500,000 tons of corn from July 14 to 31, 2025. At the same time, the duty on imports of corn outside the quota remains high at 130%. Turkish importers can also import corn duty-free for further processing for export.

Turkey will start harvesting its own crop in August, which the USDA estimates will reach 7.8 million tons (compared to 7.1 million tons last year). Turkey’s import needs are forecast at 2.8 million tons, significantly lower than last season’s 4.7 million tons.

Spring quotas (1 million tons twice) have already caused a sharp increase in prices for Ukrainian corn , increased deliveries to Turkish customs warehouses, sometimes exceeding actual needs. Some cargoes did not have time to leave Ukrainian ports.

Corn prices in Ukraine

Export purchase prices for corn remain stable: $220–225/t or UAH 10,400–10,700/t , which is due to the formation of export batches against the background of limited remnants of the old harvest.

The increase in prices for feed barley and feed wheat (up to $205–210/t ) supports forward prices for corn, which already exceed $205/t .

Weather and external market impact

• Dry and cool weather conditions in Ukraine and the EU in June–July support prices.
• August futures on Euronext increased by 3% over the week to €206.5/t ($241/t), +10% over the month.
• At the same time, November futures fell by 1.3% to €198.75/t ($232/t), due to recent rainfall in Europe.

Corn supply from Brazil remains high, putting pressure on global prices. And the expected drop in temperature and rain in Ukraine in the coming days are reducing speculative support for the domestic market.

Tags: Ukraine, Turkey, prices