Prices for soybeans and processed meal decreased

Prices for soybeans and processed meal decreased, helped by heavy rains in South America and an accelerated harvest. This was reported by the experts of the UTB agricultural products export exchange.

In our country, due to delays in the arrival of merchant ships to ports and a decrease in purchasing demand, the price of GMO soybeans decreased by $10-15/t and is $410-440/t. In this regard, processors do not raise purchase prices, soybeans with GMO cost $460-475/t, and without, $465-493/t. Since autumn, Ukraine has exported 1.6 million tons of soybeans, which is almost 60% more than last year, this is due to the increase in yield and export potential. Another 1 million tons of soybeans remain free in circulation, the sale of which is complicated by a decrease in demand against the background of increased yields in Brazil.

This year, the European Union reduced soybean imports by 25%, supplies from America increased to 49%, and supplies from Ukraine tripled to 640,000 tons.

Analysts provide forecasts for soybean yields in Brazil, which is constantly growing, so, for example, on the grain exchange in Chicago, soybean prices rose by 1.3% to $565/t. Experts expect a new USDA balance sheet, which may also affect the crop price policy for South American countries. We will also remind you that the prices of Ukrainian soybeans are increasing.

You can read more about soybean exports on our website by following this link https://www.ukrsunoil.com.ua/export-soybeans/