Ukrainian soybeans: slow harvest, increasing exports, and expectations of a duty-free regime

In Ukraine, prices for soybean exports on the market last week remained largely unchanged at 385-398 USD/t CFR-port. This is reported by APK-Inform. On the one hand, the progress of the harvest campaign in the Northern Hemisphere and uncertainty regarding the export potential of soybeans in the United States continued to put pressure on prices in Ukrainian ports, while on the other hand, a sharp reduction in supply from the domestic market and the expected establishment of duty-free soybean exports for farmers contributed to increased demand and price strengthening in some cases. The pace of the Ukrainian soybean harvest is still significantly behind last year, and moreover, the current prices in the domestic market, which are formed in hryvnia, are considered too low by farmers, which also affected the slowdown in soybean sales. ...