Disappointing harvest of early soybeans in Ukraine: processors compete for every ton

The soybean market in Ukraine is experiencing increased purchasing activity by processors amid significant yield problems. This was discussed during the analytical briefing of the agricultural cooperative PUSK, created within the VAR.

“The yield of ultra-early soybeans in some regions remains very low, the indicators are terrible: 1.5-1.8 t/ha. The soybean market is very illiquid. Factories are already starting to get more active: purchase prices for soybeans in some regions reach 18,000 UAH/t, which is confirmed by already concluded agreements from major processors. The factories realize that due to the poor harvest, many producers will not sell soybeans at low prices, but will wait for prices of 20,000 UAH/t and higher. And it is necessary to process, because the plants have contracts for oil and meal,” the PUSK emphasized.

Analysts note that currently, the plants are trying to collect the soybean batches at the prices in the range of 17 500 – 18 000 UAH/t to form the insurance stock for the beginning of the new season. On the basis of DAP Italy, the conditional prices for Ukrainian soybeans are 410-420 euros per ton for delivery in September-October.

Tags: Ukraine, prices, soybean