Processors and traders reduce soybean purchases in Ukraine

Ukrainian processors will limit soybean purchases if its supply increases sharply, as they have already purchased large volumes of sunflower at high prices.

This is reported by Elevatorist with reference to GrainTrade.

At the same time, the number of traders purchasing soybeans is also decreasing due to growing competition on the world market.

During the week, purchase prices for GMO soybeans were offered at 16.5-17.0 thousand UAH/ton, and for non-GMO soybeans – 18.5-18.7 thousand UAH/ton with delivery to the factory (protein 39-40%).

Export prices remained stable: 388-390 $/ton or 16.8-17.0 thousand UAH/ton – GMO soybeans; $420-430/ton or 18.0-18.2 thousand UAH/ton — non-GMO soybeans, with delivery to Black Sea ports.

Earlier, USM reported that the Ministry of Economy is finalizing the mechanism for exempting soybean and rapeseed exports from customs duties.