World corn prices rose in July, one of the reasons being the drought in Ukraine

In July 2025, the FAO Cereal Price Index averaged 106.5 points, down 0.8 points (0.8%) from June and 4.2 points (3.8%) from July 2024, according to the FAO’s August report.

International export prices for barley and maize increased, while those for sorghum and wheat decreased. The decline in wheat prices was driven by seasonally high supply in the Northern Hemisphere, where the winter wheat harvest is underway.

At the same time, less favorable weather for spring wheat in parts of North America and low supply from farmers in Europe and the Black Sea region prevented prices from falling further.

“For corn, the increase in international prices is due to low trading activity by farmers, dry conditions in Eastern Europe and parts of Ukraine, and reduced export supply from Argentina and Brazil due to the introduction of export duties and strong domestic demand, respectively,” the report said.

For rice, the FAO Rice Price Index for all varieties fell by 1.8% in July due to strong export supply and weak import demand.

Tags: corn, prices, drought, crop forecast, Ukraine