As of May 5, Ukraine's corn exports have totaled 255,000 tons, and May is expected to remain an active month for trade. However, we can already prepare for a possible decline in prices.

This was reported by the analytical department of the First Ukrainian Agricultural Cooperative (FUAC), created within the UAC.

At the moment, Ukrainian corn is losing significantly in terms of price to American corn. Thus, last week, Spanish importers bought corn from the U.S. at USD245-247 per ton, while Ukrainian products were offered to the Spanish market in the range of USD268-273. The situation is similar in other key destinations, such as Egypt and Turkey, where U.S. corn is USD20-25 per ton cheaper, forcing importers to rethink their priorities in favor of the U.S.

“Despite the fact that Ukrainian corn doesn’t include genetically modified organisms (GMOs), this premium already looks excessive. This creates a risk of losing traditional markets: Turkey is already signaling a switch to American origin,” the analysts commented.

At the same time, the domestic market is relatively stable.

“Last week, the notional prices reached USD240-243 per ton. In UAH equivalent, the price of corn in ports is at 11,400-11,500 UAH/t. However, in June, there may be a significant drop in prices without further recovery, as the market is objectively “overheated,” the FUAC believes.

Despite all the challenges, corn remains one of the most profitable crops, with almost 2 mln hectares of the grain already planted in Ukraine.