Despite the seasonal decline in global market activity during the holiday season, Ukrainian soybean exporters are maintaining their positions, according to the analytical cooperative Pusk, created within the framework of the All-Ukrainian Agrarian Council.
“Despite the difficult economic situation in China, which may reduce soybean imports to 95-100 mln tons, the market is stable. Since August last year, prices on the stock exchange have remained stable, and short-term drops are quickly compensated for. This suggests that the exchange market is currently ignoring global challenges. Of course, high global stocks create uncertainties, but the trend toward price recovery continues. Ukrainian soybean exporters can use this period to strengthen their positions,” the analysts said.
They noted that historically, January, February and March show the upward trend of soybean prices. In this regard, they predict an increase in soybean prices in Ukraine by the end of January.
“We are already seeing an increase in prices: in the domestic market, they have risen by 200-300 UAH/ton, and in foreign currency terms, by $3-5/ton. We can predict that conditional prices on the CPT basis will amount to $400-410/ton in January, and in February-March they will even exceed this level. This is a favorable period for farmers who plan to sell their products,” Pusk summarized.
