Ukrainian farmers are stepping up corn sales, but prices remain high
Seasonally, after January 10-15, producers increase corn sales, but this season, due to severe frosts, supplies are increasing a little more slowly, so prices are still held at high levels.
The decrease in the dollar exchange rate on the interbank market during the week from 43.56/43.59 to 43.15/43.2 UAH/dollar stopped the growth of hryvnia purchase prices for corn in Ukraine, but export prices increased by $1-2/t to $205-206/t or UAH 10,000-10,150/t with delivery to Black Sea ports.
March corn futures in Chicago remain at their lowest since mid-August at $166/t, and traders do not expect a strong correction until the end of February, when the first forecasts for US corn plantings in 2026 are available.
Hot weather in Argentina, which could reduce the potential corn harvest, could support prices. But thanks to increased plantings, the harvest is now estimated at 53-62 million tons, compared to 50 million tons in the previous season.
Rising temperatures may allow the resumption of corn harvesting in Ukraine, and increase the supply of cheap (damaged) corn, which will also put pressure on domestic prices.
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