Export purchase prices for corn in Ukraine continue to decline due to low demand, falling wheat prices, and low prices for American corn.

U.S. corn exports from May 8-15 increased by 32.2% compared to the previous week, reaching 1.72 million tons (including 566,000 tons delivered to Mexico), as buyers aim to finalize shipments before the end of a 90-day U.S. tariff deferral. In the 2024/25 marketing year, the U.S. exported 45.543 million tons of corn, a 29.2% increase over last year’s pace. However, to meet the USDA’s projected 66 million tons by the season’s end, weekly exports need to reach 1.5 million tons, which will be challenging as buyers are expected to shift to cheaper corn from Argentina and Brazil starting in July.

July corn futures in Chicago rose by 0.9% to $176.2 per ton, and December futures increased by 1.4% to $173.9 per ton, driven by strong export demand, as American corn remains the cheapest on the global market.

Ukraine’s corn exports for the first 19 days of May reached 1.26 million tons (compared to 2.36 million tons for the same period last year), with a seasonal total of 19.8 million tons (down from 25.26 million tons in 2023/24). Ukraine is projected to reach the USDA’s forecast of 22 million tons by July 1.

Reference source: http://surl.li/jdhgbfgdjhfvbj4