Ukrainian market overview as of 12/27/24

During December 1-25, Ukraine exported 2.109 million tons of corn, 555.5 thousand tons of wheat, 105.5 thousand tons of barley, 248.3 thousand tons of soybeans, 125.9 thousand tons of rapeseed, 0.91 thousand tons of sunflower, 342.5 thousand tons of sunflower oil, 28.5 thousand tons of soybean oil, and 407.4 thousand tons of soybean and sunflower meal.

 

According to AAFC forecasts, in the 2024/25 MY, Canada will increase wheat production from 32.9 to 34.9 million tons, and its exports from 25.3 to 26.1 million tons, compared to the previous season. At the same time, canola production will decrease from 19.2 to 17.8 million tons, but its exports will increase from 6.7 to 7.5 million tons.

 

Turkey has increased its wheat import quota from 15% to 25% to support the domestic market and reduce food prices.

 

Corn

The Christmas holidays reduced trading activity on the world market, so corn prices in Europe and Ukraine remained unchanged.

 

Latest buyer indications:

• DAP Ukraine (Odesa) - $205-208/t,
• FCA Ukraine (border) - 196-198 €/t,
• DAP Italy (north-east) - 235-237 €/t,
• DAP Germany (northeast) - 230-235 €/t.

 

Wheat

Despite reduced demand from buyers during the holidays, wheat prices in Europe remained stable. In Ukraine, buyers were mainly interested in feed wheat, the prices for which increased slightly.

 

Buyers' indications were:

• DAP Ukraine (Odesa) 11.5pro - $213-214/t,
• DAP Ukraine (Odesa) feed - $207-208/t,
• DAP Italy (north-east) fodder - 238-240 €/t,
• DAP Germany (north-east) truck - 235-238 €/t.

 

Sunflower

Sunflower prices in Ukraine fell during the week, but some processors increased demand and kept prices stable. Producers continue to restrain sales.

 

Latest buyer indications:

• DAP Ukraine (plant) 46% (dry) - $500-520/t,
• DAP Bulgaria (center) 44% (on cheese) - $590-600/t,
• CIF Bulgaria (port) 44% (on a raw basis) - $585-590/t.

 

Soy

Soybean prices at Ukrainian ports remained unchanged, while factories slightly reduced them, as most processors had already purchased the required amount of raw materials, which reduced demand.

 

Buyers' indications for GMO soybeans:

• DAP Ukraine (Odesa) - $370-375/t.

 

Buyers' indications for non-GMO soybeans:

• DAP Ukraine (Odesa) - $423-427/t,
• FCA Ukraine (border) - 380-385 €/t,
• DAP Italy (northeast) - 420-425 €/t.