Ukraine ships first Panamax corn cargo to China since April

Ukraine increased corn shipments to China in December, exporting 58,000 tons. According to brokers at Spike Brokers, total corn exports reached 1.3 million tons as of December 18.

ASAP Agri noted that the previous Panamax shipment of Ukrainian corn to China took place back in April 2025. Total deliveries to China in the 2024/25 marketing year amounted to only 190,000 tons, marking a sharp decline from 4.6 million tons in the 2023/24 marketing year.

Spike Brokers added that the main destinations for Ukrainian corn this season are Turkey (365,000 tons) and Italy (312,000 tons).

In terms of regional structure, exports are dominated by Europe (40.7%) and the Middle East (40%). Key destinations include Italy, Spain, Turkey and Lebanon. North Africa accounted for around 15% of exports, while Asia represented 11%, mainly due to China and South Korea. Overall, Ukrainian corn continues to demonstrate strong diversification and a stable presence across the EU, MENA and Asian markets, the brokers noted.

On port routes, prices are declining amid an imbalance between intake and shipment rates.

“Slow seaborne shipment rates are easing demand pressure, while rising trader costs for freight, vessel demurrage and operational risks are forcing price adjustments downward. The spot corn index for CPT-port delivery (30 days) fell by $2 compared with last Friday, to $205,” the report said.

At the western border, shipment volumes are increasing; however, supply pressure combined with seasonally weak demand from European buyers during the Christmas and New Year period pushed prices down to €180, which is €5–6 lower week-on-week.