Weekly Grains Outlook - Corn and Barley Focus
Iran is expected to be the seventh biggest importer of corn in 2025/26, with volumes of 10.0Mt, a little behind Egypt but ahead of eg China and Colombia.
In barley, it is the ranked as third largest global importer, on 2.7Mt, behind Saudi Arabia on 4.6Mt and China on 10.5Mt.
These suggest, in the risk of demand destruction, a case for pressure on prices of both grains. In fact, corn prices fell after Israel’s strikes on Iran in June last year - although this was of course in a market with many other variables. June attracts, for instance, seasonal pressure from the start of Brazil’s safrinha corn harvest.
Indeed, not all price risks are to the downside, by any means, particularly if the current conflict proves longstanding or expands geographically (see Wheat section).
