The Ukrainian soybean market is delivering impressive results, with export volumes reaching 445,000 tons, setting the stage for a potential new record.
This achievement was highlighted by analysts from the First Ukrainian Agricultural Cooperative (FUAC), established under the Ukrainian Agrarian Confederation (UAC).
Despite this success, the Ukrainian market remains influenced by global dynamics, including price fluctuations in the U.S. and Brazilian soybean markets.
“Ukrainian soybean is usually sold at a discount compared to American soybean, which is about 5-7 USD per ton,” the analysts said in a press release from the Ukrainian Agri Council. “However, now the price of the US soybean is almost equal to the Ukrainian one, which is a favorable signal for domestic exporters. Negative trends in the physical markets, in particular the fall in the price of soybeans in Chicago, have not yet affected our sales volumes.”
Seasonal trends point to a possible increase in soybean prices in December-March. This is traditionally an active period for trade. Analysts predict a gradual increase in the price of soybeans to 420-440 USD per ton, which is USD 20-30 more than the current figures.
“December is always active for the market due to the preparation for the Christmas holidays. Processing companies will increase purchases of soybeans, as most of them have covered their needs only for the first half of December. This creates high demand, which, in turn, will drive up prices. We can recommend producers who have the opportunity to postpone sales until February-March to maximize the benefits,” the analysts said.
On the domestic market, soybean meal prices remain low, restricting processors’ ability to offer higher purchase prices. Currently, soybeans are being bought for 17,300-17,500 UAH per ton. However, the close relationship between soybean and meal prices suggests that the situation in the Ukrainian market may stabilize in the coming months.
