Domestic demand supports soybean prices in Ukraine despite global pressure

The soybean market in Ukraine is currently in a state of relative balance, despite a broader global trend toward lower prices. According to analysts at Spike Brokers, strong activity from domestic processors is helping to stabilize prices and prevent a deeper decline.

Over the past week, export soybean prices slightly decreased to around $434/t (CPT terms). At the same time, the processing parity increased to $496/t, making domestic crushing more attractive than exporting raw beans.

Processors remain the key factor supporting the market. Strong demand for soybean oil and meal helps sustain procurement prices within Ukraine, offsetting weaker signals from global futures markets.

Ukraine continues to actively export processed products, including around 258 thousand tonnes of soybean meal (mainly to China), 134 thousand tonnes of soybeans (to the EU and Turkey), and 36 thousand tonnes of soybean oil, with Poland as a key destination.

Despite global price pressure, the physical market in Ukraine shows resilience. The processing segment maintains balance and prevents significant price declines even amid weaker futures performance.

On the global stage, soybean prices are pressured by strong supply as Brazil nears the end of its harvest and Argentina increases export volumes. However, rising soybean oil prices in Europe provide additional support to the broader oilseed complex.