Soybean Prices in Ukraine Decline Due to Export Issues

Soybean prices in Ukraine continue to decrease due to problems with the export of vegetable oil and meal, as well as rising logistics costs through western borders. Transportation costs increased by 15-20% in August, and a further rise of 10-20% is expected in September-October. Processors are revising their purchasing prices for GMO soybeans, which have fallen by 500-1000 UAH per ton to 16,500-17,500 UAH/ton delivered to the factory. Export prices for GMO soybeans with a protein content of 33% have risen to 400-420 USD/ton delivered to the border and 425-435 USD/ton in a Euro wagon. Non-GMO soybeans are offered at 460-465 USD/ton delivered to the border and 470-480 USD/ton in a Euro wagon for shipments in October-December. The initial results of the new harvest have been worse than expected due to hot weather, which has reduced both yield and quality of soybeans. European buyers are interested in soybean supplies for December 2026 - February 2027. In the near future, an increase in soybean supply from Ukrainian farmers is expected, which may increase pressure on domestic prices. On the global market, November soybean futures on the Chicago Mercantile Exchange reached 481 USD/ton, the highest level since the end of 2023. A decrease in the forecast for soybean yield and production in the USA is expected, which may support global prices.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.