Soybean prices in Ukraine fall following rapeseed and sunflower prices

The shelling of Ukraine by Russian terrorists continues to intensify, attacking port infrastructure and civilian vessels, and simply hitting cities, killing civilians and destroying buildings.

 

Constant shelling since July 22 has practically stopped the entry of ships into Ukrainian ports, so export demand for rapeseed and soybeans, as well as their processed products, has sharply decreased, which has led to a collapse in purchase prices from processors.

 

Rapeseed prices fell to UAH 20,000-21,000/t ex-factory, while sunflower prices fell from UAH 32,000-33,000/t to UAH 27,000-29,000/t ex-factory in August, so soybean prices also fell to UAH 18,000-19,000/t ex-factory, even with low old crop stocks. Traders and processors are currently working on alternative export routes across the western border, but increasing logistics costs will continue to push down prices in Ukraine.

 

Declining stock quotes for soybeans and rapeseed will also put pressure on prices as the supply of the new crop increases.

 

Favorable weather for corn and soybean planting in the US, as well as forecasts of heavy rainfall this week, are increasing the pressure on quotes. November soybean futures on the Chicago Board of Trade have fallen by 4% to $437/t over the past 7 days (+4.3% for the month), losing the growth of previous weeks caused by increased purchases by China of the new soybean crop from the US.

 

According to the NASS report, during the week of July 20-26, the number of soybean crops in good or excellent condition in the US decreased by 3% to 63% (70% last year).

 

China's soybean imports in June 2026 increased by 15% compared to May to a record 13.55 million tons for this month (which exceeded the figure in June 2025 by 10.5%) due to the arrival of ships with soybeans from Brazil. The soybean harvest in Brazil in the 2025/26 MY will reach 180 million tons compared to 172.5 million tons last season, and exports may grow to 115 million tons (103 million tons last season), so the world market will be sufficiently saturated with soybean and meal offers, so a decrease in supplies from Ukraine by 1-2 million tons will not have a significant impact on prices.