Soybean market awaits EU decision on deforestation
The soybean market remains stable, awaiting clarification on the European EUDR regulation. Soybean prices in Ukraine have increased by $2-5 over the past week, while the premium for non-GM soybeans remains at $40-45. This is reported by Spike Brokers.
The soybean market is awaiting clarification on the prospects for the European EUDR regulation and is currently trading without significant changes until December. For most European players, the introduction of the EUDR regulation is seen as a supporting factor for soybean prices, especially non-GM. The Italian market currently shows a €15-20 spread between GM and non-GM soybeans.
Over the past week, soybean prices have increased by $2-5 on the Ukrainian market.
The spot price index for GM soybeans for export with delivery within 30 days has increased by $3 excluding VAT compared to Friday last week – to $397/t. The price is given for the basic export quality of GM soybeans on the terms of the Odesa CPT.
The spot price index of GM soybeans for processing with delivery within 30 days increased by $1 excluding VAT – to $440/t including VAT.
The premium for NON-GM soybeans remains stable – $40-45 relative to the price of GM soybeans.
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