The global soybean market is still in stable demand, and Brazil and the United States remain the key players and competitors of Ukrainian soybeans, according to the analytical cooperative “Pusk”, created within the framework of the Ukrainian Agrarian Council.
“The price of soybeans in Chicago is growing, which is a signal for the physical market. The soybean deficit is not expected in the world, but the weather conditions in Brazil add to the tension. Problems with precipitation and moisture content of the crop may reduce the quality of the grain, which will push prices up,” the experts said.
According to the analysts’ forecasts, in February Ukraine is expected to see the price at $400-405 per ton on CPT terms. At the same time, Ukrainian processors are currently unable to offer high purchase prices due to lower prices for rapeseed and sunflower.
Nevertheless, the market is supported by export demand. The situation on the soybean market remains dynamic, and weather conditions may become one of the key factors in determining prices, analysts say.
