Ukrainian corn prices reach five-month high on strong Turkish demand, port constraints
Despite solid domestic corn production in Turkey this season, low opening stocks and expanding poultry output have increased import requirements.
UKRAINE – Ukrainian corn prices climbed to a five-month high in late January, supported by sustained buying from Turkey’s feed and poultry sector and tighter availability at Ukrainian ports due to ongoing logistics challenges, according to Platts, part of S&P Global.
Market participants said the combination of strong destination demand and constrained export flows has underpinned prices at a time when global corn markets remain sensitive to supply-side disruptions.
Platts assessed Ukrainian corn FOB POC at US$222.50 per metric ton on Jan. 30 for loading Feb. 27–March 13, up from US$218 per metric ton on Jan. 5.
The assessment marked the highest level since the start of the new crop season in October, when FOB POC was assessed at US$213 per metric ton on Oct. 6, 2025.
Market sources pointed to Turkey as the primary driver of the recent rally. Demand from Turkish buyers, particularly from the poultry and feed industries, has remained firm despite the country recording solid domestic corn production this season.
Low opening stocks and expanding poultry output have increased Turkey’s reliance on imports.
According to Ukrainian port line-up data shared by a trader, 556,954 metric tons of corn were loaded from Ukrainian ports to Turkey between Jan. 1 and Jan. 23, following 998,520 metric tons shipped during October–December 2025.
Turkey has therefore remained one of the most important destinations for Ukrainian corn exports in the current marketing season.
“The demand is strong because the carry-in was historically low,” a Turkish broker said.
The broker added that about 3.7 million metric tons of corn could enter the Turkish market by August. With domestic prices firming amid higher import needs, Turkey’s grain board, the TMO, released corn from its stocks and set a sale price for domestic corn last week.
Importers are also anticipating a new import quota.
“Everyone is expecting a quota like last year, probably sometime within February,” the same broker said, adding that feed and poultry industries are lobbying for it.
However, Turkish buying has largely shifted to April loadings, as near-term requirements have been covered.
Beyond Turkey, demand for Ukrainian corn has also been reported from several European markets. Ukrainian port line-up data showed that 519,191 metric tons were shipped to Italy between Jan. 1 and Jan. 23, following 916,079 metric tons during October–December 2025.
Traders also cited interest from the Netherlands and Spain, with Spain potentially increasing purchases amid trade uncertainty with the United States.
Some enquiries were also reported from China, although traders said price indications were not competitive.
“Heard enquiries from China, but [they] are not competitive for now vs other buyers,” a Ukrainian seller said.
Strong destination demand has coincided with tighter port supplies. Traders cited internal logistics and infrastructure bottlenecks that are slowing farm-to-port movements, alongside weather-related risks. CPT prices in the domestic Ukrainian market have also been rising.
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