Ukrainian traders don't expect a systemic demand for Ukrainian soybeans because the product of its processing - soybean meal can be replaced in the feeds by other products, and soy price does not seem competitive for farmers. Asking prices are 420-430 Euro/t in the West of Ukraine.
Because of this, farmers mostly tried to avoid sales and are waiting for the revival of demand after the opening of seaports. Ukrainian soybeans have been a niche market in the global soybean market for the past few years, as production volume has lagged far behind global leaders, and the market has a certain ratio of GMO to non-GMO soybeans.
Because of this, farmers mostly tried to avoid sales and are waiting for the revival of demand after the opening of seaports. Ukrainian soybeans have been a niche market in the global soybean market for the past few years, as production volume has lagged far behind global leaders, and the market has a certain ratio of GMO to non-GMO soybeans.
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