Ukraine has become a key seller of spot corn, prices at ports are $214–216/t
12.02.2026 - 11:57
Against the backdrop of weather problems in Brazil and Argentina, importers’ interest in Ukrainian grain is growing.
The world corn market currently remains relatively stable, but in fact has only two active sellers – Ukraine and the USA. This was reported in the analytical department of the agricultural cooperative PUSK.
At the same time, the USA mainly works in the forward segment with deliveries in April-May, while Ukraine remains a key supplier of spot corn with shipments in February-March. This creates increased demand for Ukrainian grain in the short term.
Analysts call the situation in South America a key external factor for prices.
“In Brazil, there is a delay in sowing corn due to drought in the southern regions and the expectation of precipitation. The situation in Argentina is also tense: the southern regions are suffering from heat and uneven precipitation. There is a high probability that Argentina will not be able to actively export in March, and this will further support the market,” the PUSK notes.
Against this background, Ukraine is demonstrating high export activity. According to analysts, about 700 thousand tons of corn have already been shipped in the first days of February, and the final export in February may amount to 2.6–2.7 million tons with a potential of up to 3 million tons.
“In January–March, Ukraine traditionally loads export channels to the maximum, and this year additional demand is formed by importers who were counting on cheaper Argentine corn. In fact, there is only one seller left on the spot market — Ukraine, and this works to increase prices,” the PUSK explains.
The price dynamics in ports already reflect these factors: corn is traded in the range of $214–216/t, or UAH 10,350–10,500/t. This week, the market may consolidate at the levels of 10,500–10,550 UAH/t, and in the medium term, analysts see the potential for a gradual increase of $1–2/t every week.
In the event of further deterioration of the weather in Argentina, Ukrainian corn may rise in price to $220/t and above, and the seasonal model allows for levels of $230–235/t CPT in February–April.
Fluctuations after the publication of the USDA report are possible, however, according to PUSK, they will be short-term and will not change the general trend.
