The Ukrainian Ministry of Agriculture stated that as of December 3, the grain export volume of Ukraine for the fiscal year 2025/26 (starting from July) was 12.61 million tons, a decrease of 33.1% compared to the same period last year. So far this year, Ukraine has exported 7.33 million tons of wheat, a year-on-year decrease of 19.2%; Exported 3.88 million tons of corn, a year-on-year decrease of 49.0%; Exported 1.2 million tons of barley, a year-on-year decrease of 35.9%.

Ukraine's corn exports have significantly decreased by 49.0% year-on-year, indicating tight global supply and favorable spot corn prices. Combined with the futures market, the closing price of the contract in the near month, such as 2601, is 2,295 RMB/ton, up 24 RMB/ton. The change in holdings indicates an increase in sentiment in the market, further supporting the expectation of price increases.

Corn, as the main raw material, has reduced its supply, pushing up production costs and benefiting the spot price of corn starch. The decline in corn exports has led to an increase in raw material costs, which may stimulate downstream demand and support price increases.

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