Purchase prices for soybeans and sunflower seeds in Ukraine are growing due to the delay in harvesting

The warm and dry weather established in Ukraine contributes to the acceleration of harvesting of sunflower and soybeans, but most of the crops have not yet ripened, so the supply of sunflower of the new crop is delayed.

High global prices for vegetable oils support sunflower prices, although experts expected their seasonal decline. This week, purchase prices for sunflower increased by another 200-300 UAH/ton to 16500-17000 UAH/ton with delivery to the plant, but only the southern regions began to collect it.

Preliminary data confirm a good sunflower yield, so crop forecasts at the level of 16.5-17.5 million tons look quite real.

In the south of Russia, sunflower harvesting also began, and as of September 7, 673.8 thousand tons were threshed from 442 thousand hectares or 4.5% of the area with a yield of 1.52 t/ha, which is lower due to the August heat than last year.

The market expects tomorrow's updated forecast for sunflower from the USDA, which will determine further price trends.

Purchase prices for soybeans in Ukraine remain under pressure from a decline in global stock prices and an increase in demand for high-protein soybeans without GMOs. Exporters for soybeans with GMOs offer in the Port 5 500/t or 15000-15300 UAH/t, while processors with delivery to the plant are ready to pay 15500-16000 UAH/t. Prices for soybeans without GMOs increased in the port by 2 20-30/t to 6 620-630/t or 19000-19200 UAH/t, while on the basis of DAP border with Poland or Belarus exporters offer for it 640-650 $/t. processors for non-GMO soybeans are ready to pay 18500-19000 UAH/t with delivery to the plant.

November soybean futures on the Chicago Stock Exchange fell 4.4% to.468.1/ton in two weeks under pressure from increased forecasts for soybean production in the United States due to adjustments in sowing and harvesting areas, which will be released by the USDA on September 10.

It is expected that the soybean harvest in Ukraine will grow by 20% compared to last year to 3.7-3.8 million tons, which will increase the volume of soybean supplies with GMOs. This will allow processors not to overpay for soybeans compared to exporters, as last year. The premium for non-GMO soybeans in the current season may reach 1 100-150/ton, which will encourage producers to increase the area of sowing non-GMO soybeans, especially given the new legislation that tightens responsibility for the turnover of products with GMOs.