Ukrainian market review from Spike brokers

Last week's sales:

• corn DAP Odesa February – $216/t,
• corn DAP Odesa March – $217.5/t,
• Non-GMO soybean DAP Odesa February – 19950 UAH/t.

 

Ukraine

Soil moisture in Ukraine is currently the worst in the last 7 years, as precipitation in November and January was significantly below normal, which creates risks for winter crops.

 

In January, Ukraine exported: corn - 2.483 million tons, wheat - 891.1 thousand tons, barley - 64.9 thousand tons, soybeans - 223 thousand tons, rapeseed - 102.8 thousand tons, sunflower - 20.1 thousand tons, sunflower oil - 378.1 thousand tons, soybean oil - 42.9 thousand tons, soybean and sunflower pulp - 406.3 thousand tons.

 

World

Trump's decision to delay the introduction of tariffs on goods from Mexico and Canada has eased tensions on global markets.

 

Against the backdrop of its large domestic harvest, China does not plan to import wheat until April and is redirecting the previously purchased 600,000 tons to other buyers in Asia, which is increasing pressure on grain markets.

 

Corn

During the week, corn was actively traded both to ports and to the western borders. Farmers are actively contracting for March-May and entering into forward agreements for deliveries in October-November, which indicates optimistic market sentiment.

 

On average, corn was traded at $215-217/t DAP in the ports of Odessa and €203-205/t FCA at the western border.

 

Latest buyer indications:

• DAP Odesa – $215-217/t,
• FCA Ukraine (border) – 203-205 €/t,
• DAP Italy (north-east) by car – €247-250/t,
• DAP Germany (north-east) – 225-228 €/t,
• DAP Netherlands (south) – 229-233 €/t.

 

Wheat

Active demand for wheat on the domestic market is leading to an increase in prices. Feed wheat has risen the most, so the gap between food and feed grain prices has decreased to $6-8/t.

 

Latest buyer indications:

• DAP Odesa protein 12.5% – $226-228/t,
• DAP Odesa protein 11.5% – $224-226/t,
• DAP Odesa fodder – $218-220/t,
• DAP Germany (north-east) fodder – 222-225 €/t,
• DAP Netherlands (south) – €225-230/t.

 

Sunflower

The sunflower market remains tense, as indicative quotes fluctuate significantly, while actual prices remain stable. Processors are experiencing a shortage of raw materials, so they are offering competitive terms, including premiums for large batches and high oil content.

 

Latest buyer indications:

• DAP Ukraine (plant) oil content 46% dry weight – $520-528/t,
• DAP Bulgaria (plant) oil content 44% on cheese – $590-600/t.

 

Customer indications for oil:

• DAP Odesa – $1070-1085/t.

 

Soy

There is moderate activity in the soybean market, and despite high demand from processors, farmers are holding back sales in anticipation of better prices.

 

Buyers' indications for GMO soybeans:

• DAP Odesa – $386-390/t,
• DAP Italy (north-east) by car – 420-425 €/t,
• DAP Italy (northeast) railway – €405-410/t.

 

Buyers' indications for non-GMO soybeans:

• DAP Odesa protein 33 – $418-420/t,
• DAP Hungary protein 33 – 425-435 €/t
• DAP Italy (northeast) auto protein 33 – 445-450 €/t.