The weather favors harvesting in Ukraine, and the increase in the supply of oilseeds has not yet led to a decrease in prices

As of October 5, 7.3 million tons of sunflower were collected from 3.171 million hectares or 58% of the area in Ukraine with a yield of 2.3 tons/ha, and from 1.22 million hectares or 67% of the area – 3.11 million tons of soybeans with a yield of 2 .56 t/ha. Harvest rates are significantly higher than last year, when only 28% of sunflower crops and 14% of soybean crops were threshed due to prolonged rains.

Despite the increase in offers, purchase prices for sunseed remain at the level of UAH 11,500-12,000/t with delivery to the factory, although queues at the factories have grown. At the same time, processors offer UAH 13,000-13,500/t for GMO soybeans, and UAH 14,000-14,800/t for non-GMO soybeans with delivery to the factory.

Exporters at elevators in the western regions offer UAH 13,000/t for soybeans with GMOs and UAH 14,000/t for soybeans without GMOs, but producers hold back sales, hoping for higher prices.

Global sunflower oil prices remain under pressure in the absence of positive news. Prices for sunflowers with December-January delivery to Bulgaria are stable. Exporters are reducing purchases due to the time required to obtain licenses. The mechanism for obtaining licenses has not yet been established, so it may take up to 45 days from the moment of application. Processors in Ukraine buy raw materials at $260-280/t without VAT.

The demand prices for sunseed are:

• DAP Ukraine (Danube) ~270-280 $/t,
• DAP Italy (Mon.) ~340-345 €/t,
• DAP Bulgaria (north/center) ~370-380 $/t,
• CIF Bulgaria (port) ~380-390 $/t,
• CIF Romania (port) ~370-380 $/t.

During the week, the volume of rapeseed trade in Ukraine decreased, and the prices in the ports decreased by $10/t. Demand from the EU remains at the level of the previous week.

Demand prices for rape are:

• DAP Ukraine (Danube) ~345-350 $/t,
• DAP Latvia (center) 40% ~380-390 €/t,
• DAP Germany (East) (iron) 40% ~400-410 €/t,
• DAP Romania (port) (car) 43% ~375-380 €/t.

Demand prices for soybeans are almost unchanged compared to the previous week and are:

• GMO DAP Ukraine (Danube) ~355-360 $/t,
• GMO DAP Italy (north-east) ~400-415 €/t,
• GMO CIF Turkey (port) ~450-455 $/t,
• GMO CIF Egypt (port) ~470-475 $/t,
• without GMO DAP Ukraine (border) ~340-345 €/t,
• non-GMO DAP Hungary (center) ~380-395 €/t.

Active soybean planting in Brazil and a possible increase in acreage in the event of favorable weather could increase pressure on oilseed prices in the coming weeks amid weak global demand.