Prices for soybeans in Ukraine continue to fall, but they can be supported by the growth of world prices

For the third consecutive week, the export purchase prices for soybeans in Ukraine are falling, which allows to lower prices for processors, which during this period increased purchases of soybeans and sunseed.

During the week, prices for soybeans with GMOs decreased by 300-500 UAH/t to 17000-17500 UAH/t or 360-375 USD/t, and for soybeans without GMOs – to 19000-19500 UAH/t or 410-425 USD/t. Increased competition from Brazil and the United States is forcing traders to lower prices for Ukrainian soybeans.

Amid declining export demand, processors lowered prices for GMO soybeans by 500-700 UAH/t to 17000-17200 UAH/t delivered to the plant, while demand for non-GMO soybeans remains limited.

In 2024/25 MY, Ukraine exported 1.15 mln tonnes of soybeans (3.26 mln tonnes in the same period last year) out of the forecasted 4 mln tonnes, including 230 thsd tonnes in November.

According to the European Commission, from July to October, the EU imported 4 mln tonnes of soybeans, which corresponds to the last year’s pace. In comparison with the previous season, Brazil’s share in the EU imports increased from 1.7 mln tonnes to 2.333 mln tonnes, or 57.9%, while the US share decreased by 516 thsd tonnes to 1.247 mln tonnes, or 31%.

According to AgRural, in Brazil, as of November 14, soybeans were planted on 80% of the planned areas (68% last year), which contributes to the expansion of sowing areas and improves the prospects for the future harvest.

November futures for soybeans on the Chicago stock exchange for two sessions rose by 2.2% to 371 $/t (-1.3% for the week, +2% for the month) amid record soybean processing in the United States, which in October amounted to 5.44 million tons, while analysts forecast 5.35 million tons.

Soybean exports from the United States for the week fell by 8.4% to 2,165 million tons (of which 1.39 million tons were delivered to China), and in General in the season reached 17.48 million tons, which is 9.2% ahead of last year’s pace.

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Tags: Ukraine, prices, soybean