Source: Oleoscope (Russia)
Germany soybean and legume prices fall, showing a significant downturn. Current prices are approximately 11 percent lower compared to the previous year. The market reflects this change, influencing decisions for buyers and sellers.
Factors Contributing to the Price Decline
Several factors contribute to this downward trend in Germany soybean and legume prices fall. Specifically, increased global production impacts the domestic market. In addition, fluctuating exchange rates also play a role. Furthermore, changes in import tariffs further complicate the pricing landscape. Demand from key importing countries is also a major influence. These elements collectively create the current market conditions.
The UFOP (Union zur Förderung von Oel- und Proteinpflanzen e.V.) reported these market shifts. As a result, market participants closely monitor these developments.
Current Price Analysis
Soybeans, specifically, experienced a price decrease. Feed soybeans now cost €465 per ton in week 40 of 2024. These prices were noted for delivery to Magdeburg. In addition, soybeans for food processing are priced at €475 per ton. These prices also reflect delivery to Magdeburg.
- Feed Soybeans: €465 per ton (Magdeburg)
- Food Processing Soybeans: €475 per ton (Magdeburg)
In contrast, last year saw higher prices. In 2023, feed soybeans cost €525 per ton in week 40. The food processing variety was €535 per ton. The price difference is, therefore, approximately €60 per ton.
Legume Price Trends
The legume market also sees price adjustments. Feed peas currently trade at €280 per ton. Last year’s price was €315 per ton in week 40 of 2023. Consequently, there’s a €35 per ton price decrease.
However, feed broad beans now cost €290 per ton. Last year’s price was €330 per ton. Thus, broad beans face a €40 per ton price reduction.
Here is a summary of the price declines.
- Feed Peas: €280 per ton (down from €315)
- Feed Broad Beans: €290 per ton (down from €330)
Market Outlook and UFOP Recommendations
The UFOP emphasizes that producers should observe the trends closely. As stated by the UFOP, “Market monitoring is crucial in these times of fluctuation.” They suggest considering risk management strategies. Specifically, producers must stay informed about global production forecasts. Ultimately, these strategies help mitigate potential losses.
