Demand for soybeans on the Ukrainian market currently exceeds the activity of sellers, which supports prices for the oilseed. At the western border, quotations are already showing grow

Demand for soybeans on the Ukrainian market currently exceeds the activity of sellers, which supports prices for the oilseed. At the western border, quotations are already showing growth.

This is reported by the analytical department of the agricultural cooperative FUAC (First Ukrainian Agricultural Cooperative), established within the Ukrainian Agri Council (UAC).

"Prices at the western border have already begun to rise, as a result of which, for soybean producers from the central and western regions, the export direction may in a number of cases be more attractive than selling to domestic processors. For soybeans, we so far see the fewest risks, since the harvest is expected to be smaller, and there are more buyers on the market than active sellers," the analysts note.

The first purchase prices of Ukrainian processors for soybeans are predominantly UAH 16,000–16,500/t, with some enterprises already offering around UAH 17,000/t.

"By December–January, the soybean price at processors may amount to UAH 19,000–20,000/t. Whereas for corn and sunflower the risks of price declines are significantly higher and it is advisable to fix part of the volumes in advance, with soybeans the situation is the opposite," FUAC believes.

At the same time, long-term forecasts for the Ukrainian agricultural market remain dependent on the security situation. In addition, price formation will be affected by the possibilities of export via the sea and Danube routes.

"Military risks remain one of the main factors for the market. Seasonality, demand, supply, balances, and export possibilities may currently point in favor of a further rise in soybean prices. However, strikes on processing enterprises are capable of very quickly changing this picture. That is why long-term forecasts currently have significantly lower accuracy," the experts emphasize.