- Prices: Ukrainian soybean export prices eased to USD 435-445/ton CPT port amid strong global supply.
- Meal: Soybean meal export prices remain firm at USD 395-407/ton DAP-western border, supported by EU demand.
- Global Pressure: Accelerated South American exports and record production forecasts are weighing on Ukrainian values.
- Outlook: Overall tone is neutral to bearish, with traders watching U.S. planting and South American export pace.
Ukrainian Soybean Market Update
Ukrainian soybean export prices posted a modest decline last week, easing by USD 3-8 per ton to USD 435-445 per ton CPT port. The adjustment came despite firm local demand, as external market pressures continued to dominate pricing dynamics.
Raw soybean shipments to Turkey increased in the first half of May, coinciding with the country’s seasonal build-up of Brazilian soybean imports. Nonetheless, stronger-than-expected export flows from South America, solid sowing progress in the United States, and USDA projections for a new record in global soybean production are collectively exerting downward pressure on Black Sea values.
Soybean and Soybean Meal Price Overview
| Commodity | Market Basis | Price Range (USD/ton) | Weekly Change |
|---|---|---|---|
| Soybeans | CPT port (Ukraine) | 435-445 | -3 to -8 |
| Soybean meal | DAP western border (Ukraine-EU) | 395-407 | Steady / Elevated |
In contrast to the softer soybean complex, soybean meal export prices remain relatively elevated in the range of USD 395-407 per ton DAP-western border. The European Union continues to act as the primary outlet for Ukrainian soybean meal, even as new-crop South American oilseed meal competes more aggressively in the market.
Market Sentiment and Trading Outlook
The overall market tone is neutral to bearish. The latest price correction largely reflects bearish global fundamentals, including abundant South American supply and record production expectations. While firm local demand in Ukraine offers some underpinning, it has not been sufficient to offset the broader pressure from international markets.
Traders should closely track U.S. planting progress and the pace of South American exports as key short-term drivers for price direction. Resilient soybean meal prices provide a partial cushion for the Ukrainian oilseed complex, but competition from South American origins is expected to intensify, potentially limiting further upside.
Source: Market Data
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