On the Ukrainian soybean market, price dynamics are recovering, driven by the intensification of demand from processing enterprises and limited raw material supply. At the same time, the export segment remains sluggish due to competition from cheaper Brazilian products and domestic regulatory factors. This is reported by the analytical department of the agricultural cooperative First Ukrainian Agricultural Cooperative (FUAC), established within the Ukrainian Agri Council (UAC).

Certain support for oilseed crops, including soybeans, is being formed by an external energy factor: rising oil prices are boosting demand for vegetable oils. At the same time, the main driver of the market is domestic processing. Demand for soybean meal and oil is growing, which encourages plants to make active purchases.

"Over the past week, some processors raised purchase prices by UAH 500/t. We are already seeing a level of around UAH 22,000/t. By the end of April — beginning of May, there is every precondition to expect UAH 22,500/t. At the same time, given the current market conditions, a rise to UAH 23,000–24,000/t is not out of the question," the analysts note.

At the same time, the export direction remains weak. "Ukrainian soybeans face fierce competition from Brazil, which is actively supplying cheaper products to world markets. An additional restraining factor is the 10% export duty," they add at FUAC.

The new market signals that are already taking shape should be taken into account during the sowing campaign and in the further soybean sales strategy.

"Soybeans next season may demonstrate high profitability. There have already been periods when it was one of the most profitable crops. The world market has not yet reached its price highs, and the Ukrainian market has the potential for further growth. Therefore, the logic of sowing soybeans exists; however, one should not place a full bet on it — it is important to take into account the geography and structure of plantings," they believe at FUAC.