The prices of soybeans in Ukraine continue to decrease due to the increase in supply from South America

Published 2024년 6월 21일

Tridge summary

The article highlights the impact of the soybean harvest in Brazil and Argentina on the export demand and prices of GMO and non-GMO soybeans in Ukraine and the United States. The decline in export demand has led to a decrease in export prices for GMO soybeans, affecting purchasing companies and offering prices for different destinations. Local processors have also lowered their purchase prices for GMO soybeans due to reduced export demand, although they face challenges in selling meal and cake. The article also mentions the impact of rising soybean oil prices and the upcoming delivery of new crop canola, which is expected to increase supplies of canola meal and reduce demand for soybean meal in the EU, further impacting soybean prices in Ukraine.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The completion of the soybean harvest in Brazil and Argentina and the increase in exports continue to limit export demand for soybeans in Ukraine and the United States, leading to lower prices. This is reported by analysts of the GrainTrade electronic grain exchange. Export prices for GMO soybeans continue to decline amid a reduction in the number of purchasing companies. Currently, the price is approximately $410/t or UAH 18,500-19,000/t with delivery to the Danube ports, and purchases at the Black Sea ports are practically non-existent, as the terminals are already preparing to receive rapeseed and barley of the new crop. Exporters also offer about $420-440/t for soybeans with delivery to Poland and Romania, but the cost of delivery remains at around $60-80/t, which does not allow for profitable exports in this direction. Processors also quickly reacted to the drop in export demand and lowered prices for the purchase of GMO soybeans by UAH 500-1,000/t from the beginning of the ...

Source: Agrotimes