Export prices for corn in Ukraine are declining under pressure from global benchmark quotations. A sharp drop in oil prices by 15–18% yesterday, driven by expectations of a possible end to the war in the Middle East, triggered speculative pressure on corn prices, which immediately affected the Ukrainian market, ProAgro Group reports.

According to GrainTrade, May corn futures in Chicago fell by 1.3% to $175 per ton (down 1.3% over both the week and the month). Additional pressure came from expectations of lower consumption forecasts and higher stock estimates in the upcoming report by the United States Department of Agriculture.

In Paris, June corn futures declined by 1.7% to €205.5 per ton, or about $240 per ton (down 1.7% week-on-week and unchanged month-on-month). In the 2025/26 marketing year, the EU has imported only 9 million tons of corn out of the projected 19.5 million tons. The main suppliers were Brazil (40%) and the United States (30%), while Ukraine’s share fell to 25%.

On Ukraine’s domestic market, export prices have remained at $214–216 per ton over the past week. However, prices in the local currency declined by 50–100 hryvnias to UAH 10,650–10,700 per ton delivered to Black Sea ports, due to the weakening of the US dollar.

Corn supply is increasing, but traders report weakening demand from countries in the Middle East and North Africa. EU demand remains at €194–195 per ton, or $225–227 per ton FCA (railcars at the western border), which corresponds to price levels at seaports.

As previously reported, at the end of March corn prices in Ukraine continued to rise despite significant stocks. A key factor was the fertilizer market, where prices increased due to the war in the Middle East.