Low soybean supply supports prices in Ukraine, but increased crop forecast in Brazil increases pressure on quotes

The Russian occupiers’ attacks on the port infrastructure of the Odessa region continue and have already led to the suspension of grain acceptance and export shipments, as well as a decrease in grain purchase prices. On the night of December 23, Russia carried out another massive attack with strike UAVs on the south of the Odessa region, as a result of which the energy, port, transport, industrial and residential infrastructure was damaged. These attacks damaged a civilian ship under the Lebanese flag in one of the districts, which was transporting Ukrainian soybeans, but there were no casualties. In Ukraine, due to the decrease in the soybean harvest, farmers are restraining sales, so exporters are keeping purchase prices for soybeans high, while prices for sunflower and wheat have plummeted. However, after the damage to the soybean ship, prices will probably also start to decline. Export purchase prices for GM soybeans with delivery to Black Sea ports remain at $418-425/t or UAH ...