Ukrainian farmers curb soybean sales

Source:  Kurkul.com
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The global market is recording a strengthening of soybean prices. Meanwhile, the soybean market in Ukraine remains mixed.

According to analysts at Spike Brokers, the CPT Odesa export price for GMO soybeans is maintained at $435/t (unchanged for the week), while the processing price with VAT has increased to $472/t (+1).

“Individual batches of GMO soybeans were periodically sold under “hot” export contracts at ports at prices up to $445/t CPT, however, demand remains limited, and trading is moderate. Farmers are selling cautiously, processors maintain stable but not aggressive interest,” the brokers noted.

Meanwhile, soybean exports in January amounted to 226 thousand tons, which is slightly higher than in December, with the main volumes traditionally being directed to the EU. Soybean oil exports fell to 35,000 tons from 53.9 thousand tons in December, while soybean meal exports amounted to 110 thousand tons.

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