Soybean prices remain stable in Ukraine, but intense heat keeps producers from selling

The abnormally dry and hot weather is holding back the sales of soybeans by producers who are waiting for the rains to understand the sales prospects, Spike Brokers reports.

Because of the heat, soybean plants begin to shed the lower beans, as there is not enough moisture for their development. Therefore, this year’s soybean yield will be below average, and the seeds will be small.

Last year, soybeans were almost the only crop whose prices remained fairly stable. Therefore, in the new season, it was planted on a significant amount of land.

Currently, according to Spike Brokers, soybeans with GMOs are offered at 365-370 USD/t CPT port and 350-355 €/t FCA border. The premium for non-GMO soybeans has increased to 20-25 €/t, although recently it was 10 €/t.

Demand prices for soybeans with GMOs are:

DAP Ukraine (Odesa) ~365-370 $/t;
FCA Ukraine (border) ~350-355 €/t;
DAP Italy (north) ~405-410 €/t.

Demand prices for non-GMO soybeans are:

FCA Ukraine (border) ~ 370-375 €/t;
DAP Italy (north) ~430-435 €/t.

Tags: Ukraine, prices, soybean