우크라이나 곡류 및 콩류 인사이트

HIGHLIGHTS Black Sea corn prices hit highest in nearly two years Spread narrowing between feed wheat and corn in destination markets Limited supply from farmers

The GMO soybean market in Ukraine has declined and accounts for about 25% of the total soybean market in Ukraine. Growing non-GMO soybeans is currently profitable. First of all, because the European Union, while consuming approximately 15-16 million tons of soybeans per year, is only 5% self-sufficient in its own production, and this figure is constantly growing.

Last week, the soybean market continued to moderately increase in prices, which was due to similar dynamics in ports, as well as a reduction in the supply of raw materials. Processors' demand prices for soybeans were on average announced within the range of 16,800-17,000 UAH/t CPT. At the same time, some companies, having term contracts for the supply of meal, were ready to give a premium for large volumes of raw materials. On the Ukrainian export market, demand prices for soybeans on CPT-port terms (Odessa and Danube) increased to 380-390 USD/t and 17,800-18,400 UAH/t. Prices were supported by the global market for this crop, which was quite saturated in the reporting period due to events: slow soybean harvest rates in Brazil due to rains, insufficient precipitation in Argentina and continued drought in the main regions where this crop is grown, expectations of the introduction of tariffs on Chinese goods by the new US president, etc.