Ukrainian market overview as of 03/21/25 from the brokerage company Spike brokers
Trades for the week:
- corn DAP Odesa, Ukraine, March - April 230 $/t → 231 $/t,
- feed wheat DAP Odesa, Ukraine, April-May 232.5 $/t,
- soybean GMO DAP Odesa, Ukraine, March - April 394.5 $/t,
- high-oleic sunflower DAP Odesa, Ukraine, March - April 32,800 UAH/t.
Harvest 2025:
- corn DAP Odesa, Ukraine, November 206 $/t.
As of March 20, 2025, 36.7 thousand hectares were sown with spring wheat in Ukraine, and 133.5 thousand hectares with spring barley. Weather fluctuations in February and March did not harm winter crops, most of which are in satisfactory condition.
Turkey has introduced a quota for the import of 1 million tons of corn with a reduced duty until June 30, which will help stimulate demand for corn in Ukraine and Romania - the main exporters of this crop in the Black Sea region, and will also support world prices.
IGC experts predict that in the 2025/26 MY, global wheat production will increase compared to the previous season from 799 to 807 million tons, corn - from 1,217 to 1,269 million tons, and soybeans - from 418 to 427 million tons.
Corn
Corn prices continue to rise, and during the week in the ports of Ukraine increased by an average of 8-10 $ / t, but they were limited by the increase in offers from producers. In the ports of Odessa, corn was traded at 229-232 $ / t DAP, and on the western border - at 214-216 € / t FCA. Demand for new crop corn has increased, the prices of which in the port are 204-206 $ / t DAP.
Latest buyer indications:
- DAP Ukraine (Odesa) ~229-232 $/t
- FCA Ukraine (border) ~214-216 €/t
- DAP Italy (M-E) ~245-248 €/t
- DAP Germany (M-E) ~228-232 €/t
- DAP Netherlands (south) ~228-230 €/t.
Harvest 2025:
- DAP Ukraine (Odesa) ~204-206 $/t
- DAP Germany (Mo-E) ~218-220 €/t
- DAP Netherlands (south) ~215-217 €/t.
Wheat
Domestic prices are rising amid low food wheat stocks, limited supply, and rising corn prices. European markets are seeing growing demand for new crop feed wheat.
Latest buyer indications:
- DAP Ukraine (Odesa) 12.5% ~238-240 $/t
- DAP Ukraine (Odesa) 11.5% ~236-238 $/t
- DAP Ukraine (Odesa) feed ~230-232 $/t
- DAP Italy (Mo-E) 11% ~248-250 €/t
- DAP Italy (M-E) feed ~243-245 €/t
Harvest 2025:
- DAP Ukraine (Odesa) 12.5% ~218-220 $/t
- DAP Ukraine (Odesa) 11.5% ~215-217 $/t
- DAP Ukraine (Odesa) feed ~205-208 $/t
- DAP Germany (M-E) fodder ~216-219 €/t
- DAP Netherlands (south) fodder ~212-215 €/t
Sunflower
Sunflower oil prices on world markets rose by $25/t during the week, leading to an increase in sunflower prices in Ukraine by UAH 600-800/t, even despite the strengthening of the hryvnia. Demand from processors remains high, while farmers continue to restrain sales.
On the spot market, sunflower oil was traded at $1,140-1,145/t DAP port, and granulated sunflower meal was traded at $230-235/t DAP port. Processors are contracting new crop sunflower with an oil content of 46% at $550/t DAP port (excluding VAT).
Latest buyer indications:
- DAP Ukraine (plant) 46% (dry) ~535-555 $/t (excl. VAT)
Latest buyer indications for oil:
- DAP Ukraine (Odesa) ~ 1140-1145 $/t
Soy
Soybean prices have risen slightly amid limited supply, but buyers are not willing to pay high prices as world quotes remain at minimal levels.
Latest buyer indications:
GMO soybeans:
- DAP Ukraine (Odesa) ~392-395 $/t
- DAP Ukraine (border) ~375-380 $/t
Non-GMO soy:
- DAP Ukraine (Odesa) ~425-430 $/t
- DAP Ukraine (border) ~380-385 €/t
- DAP Italy (NE) ~425-430 €/t
