Domestic soybean prices in Ukraine have risen sharply due to supply shortages and rising sunseed prices

In Ukraine, domestic soybean prices have risen sharply amid low supply from producers and the refusal of some processors to purchase sunflower, which has risen significantly in price.

During the week, processors increased purchase prices for GM soybeans by UAH 1,000-1,200/t to UAH 18,600-19,700/t with delivery to the plant, although export purchase prices for GM soybeans with delivery to Black Sea ports remained at $420-425/t or UAH 18,600-19,000/t.

At the same time, prices for non-GM soybeans at processors remained at the level of 19,500 UAH/t, while export prices at ports increased to 435-440 $/t or 19,000-19,400 UAH/t.

Frosts and snowfalls are severely slowing down grain supplies, so processors are forced to raise prices to secure meal for feed and export supplies.

During January 1-24, Ukraine exported over 168 thousand tons of soybeans, in particular to Turkey – over 85 thousand tons, the Netherlands – 27 thousand tons, and Germany – 17 thousand tons. But traders note that export demand is limited, especially in the traditional Egyptian market .

According to the EC, between July 1 and January 23, the European Union reduced soybean imports to 7.06 million tons compared to 8.15 million tons in the same period last year, despite cheap soybeans from Brazil. Markets are being pressured by low prices for rapeseed and soybean meal.

At the same time, March soybean futures in Chicago rose by 1.3% to $392/t over the week, but remain at the previous month’s level under pressure from expectations of a decline in export rates.

China has fulfilled its promise to buy 12 million tons of soybeans from the US (which state-owned companies purchased for reserves) and has begun buying a new crop of soybeans from Brazil.

In the MY 2025/26, soybean exports from the US amounted to 20.7 million tons, which is 37% higher than the corresponding figure for the previous season and is 48% of the forecast volume for the entire season.

According to AgRural, as of January 22, soybeans have been threshed on 4.9% of the area in Brazil (2.9% last year). Soybean sowing areas in the current season have increased by 1.3-1.5 million hectares, and crops in all states are in good or excellent condition. Given the record areas and high yield potential, soybean production in Brazil in MY 2025/26 is forecast at 176-182 million tons compared to 171.5 million tons in MY 2024/25 and 154.5 million tons in MY 2023/24.

Tags: Ukraine, prices, soybean