Ukrainian soybean market operates primarily through processing demand and exports

Ukrainian GMO soybeans on the basis of CPT Parity Odesa fell to $499/t incl. VAT (-$1/t) against the backdrop of weak stock market dynamics in the USA. This is reported by Spike Brokers.

At the same time, the Ukrainian market is supported by active exports of soybean oil and meal, as well as stable demand from processors and European buyers.

“The market works due to processing demand and export of products, and not due to broad demand for the beans themselves,” the brokers noted.

Meanwhile, soybean exports from Ukraine amounted to 13.4 thousand tons. The main export destinations:

• Greece – 4.4 thousand tons;
• Poland – 2.4 thousand tons;
• Germany – 2 thousand tons;
• Hungary – 1.7 thousand tons;
• Austria – 1.6 thousand tons;
• Turkey — 0.9 thousand tons

Producers also exported 12.5 thousand tons of soybean oil and 24.3 thousand tons of oilcake.

IC UAC according to ukragroconsult