Source: Ukragroconsult (Ukraine)
World soybean prices are under pressure as the US harvest is in full swing and traders are concerned about the weakness of the Chinese economy, which is the world’s largest importer of soybeans. This is according to analysts at Spike Brokers.
A reduction in the US discount rate usually has a positive effect on commodity markets, but the declining balance in the soybean market is likely to continue to put pressure on the crop.
Ukrainian producers are actively marketing soybeans across the board. The price of GMO soybeans has fallen by 10 euros compared to the previous week due to increased supply. On the port side, traders are lowering prices by USD 10, which also indicates a change in the market.
Latest information from GMO buyers:
- DAP Ukraine (Odessa) ~$380-385;
- DAP Ukraine (Danube) ~$390-395;
- DAP Ukraine (border) ~330-335€;
- DAP Italy (North) ~390-392€.
Latest information from non-GMO buyers:
- DAP Ukraine (Odessa) ~$435-445;
- DAP Serbia (North) ~445-450€;
- DAP Hungary (center) ~440-450€;
- DAP Italy (North) ~445-450€.
