Stronger Chinese demand pushes up Ukrainian soybean prices

Over the past week, Ukraine’s soybean market recorded moderate price growth, particularly in the western border segment. The key driver was stronger demand from China, along with low container freight rates, according to White Brokers.

This made container exports more attractive, which in turn supported prices. An additional factor was the return of other Asian importers to the market.

Prices for GMO soybeans on a DAP port basis were around $465/t, while at the western border, they were $1–2/t higher.

Buyers focused on container shipments formed a premium over the market and effectively dictated prices. They became the main drivers of liquidity in this segment.

At the same time, the market remains relatively narrow and dependent on specific sales channels.

On the global market, Ukrainian soybeans were offered at the following CIF prices:

• Egypt — $480/t
• Turkey — $473/t
• Spain — $480/t
• Italy — $479/t

For comparison, U.S. soybeans were traded at $505–513/t, Brazilian soybeans at $470–485/t, and Argentine soybeans at $476–484/t depending on destination.

Supply on the market remains sufficient, but sellers are not rushing to accelerate sales, responding to improving prices, brokers note.

Further market dynamics will largely depend on logistics costs and demand from China, which remains a key factor for this segment.