Ukraine remains one of the leading exporters of corn, soybeans, wheat, and iron ore. These products form the backbone of the country’s export revenues, with the agricultural sector and agro-processing accounting for about 60% of total export earnings.
This is reported by Business • Media
Price Dynamics for Grain Crops
According to the Chicago Commodity Exchange, there is a significant decline in prices for corn and soybeans in global markets. In particular, the spot price for corn has dropped to $169 per ton, which is 14% lower than a month ago and 4.5% lower than in July 2024. A similar trend is observed for soybeans: its price has decreased to $364 per ton, showing a decline of 12.5% over the month and 22.6% year-on-year.
At the same time, there is an increase in wheat prices in the domestic market of Ukraine. Over the past week, the export price for food wheat has risen by $2-3 per ton and currently stands at $212-215 per ton. The main reason for this increase has been delays in harvesting and low yields in the southern part of the country. Feed wheat has seen an even more significant increase — by $4-5 per ton, reaching $205-208 per ton.
Increase in Iron Ore Prices and Support for Exporters
Important changes have also occurred in the global iron ore markets. The price of iron ore futures in Singapore has risen by 1.1%, reaching $100.10 per ton, surpassing the $100 mark for the first time since May. This increase could positively impact the operations of Ukrainian mining and processing plants.
“The state continues to support Ukrainian exporters. The Export Credit Agency (ECA) supported ₴885.5 million in exports in June, insuring 11 loans totaling ₴106.4 million issued by Ukrainian banks to entrepreneurs for fulfilling export contracts. Over the past six months, the ECA has supported exports worth ₴7.38 billion. Compared to the first half of last year, this figure has increased by over 60%.”
Thus, despite price volatility in external markets, the state continues to strengthen the positions of domestic exporters through financial support and insurance of export operations. This contributes to the growth of the country’s economic resilience and allows the agricultural and industrial sectors to adapt to new market conditions.