Prices for Ukrainian soybeans are growing due to increased demand
According to the February USDA forecast, Ukraine will increase soybean exports to 2.65 million tonnes against 2.37 million tonnes in the previous season.
In January, Ukraine has implemented 291,94 thousand tons of soybeans, and the main buyers were Turkey, Iran and Egypt. Within 4 months of the new season of total soybean exports exceeded $ 1.4 million.
Prices for Ukrainian soybeans on the basis of CPT-port rose to 385-390 $/t or 11900-12100 UAH/t. Buyers offer an additional premium for non-GMO products with high protein content.
competition Intensifies, the increased purchasing processors of soybeans delivered to the plant 11600-11800 pay UAH/t and offer extra rewards for high protein levels.
soybean Exports compared to the previous season will increase to the United States from 52,74 to 57.8 million, Canada with 4.2 to 4.35 million tons, but for South America it will be reduced from 74,84 to 73,87 million.
the Harvesting campaign in South America and active sales of soybeans of the new crop pressuring soy prices on the Chicago exchange. There prices for soybeans fell from 387 to 383,33 $/ton.