The trend of strengthening prices for Soybeans, which persisted in Ukraine in the second half of May, has been replaced by downward momentum since early June.
The factors that have supported prices so far remain intact. Specifically, the aim is to curb the sale of farmers who consider the prices set to be unacceptably low and the high logistics costs. On the other hand, the presence of the majority of processors previously purchased stocks of soybeans and, accordingly, low purchasing activity support significant pressure on prices and negate these factors. At the same time, demand for non-GM soybeans was lower than GM, contributing to more significant soybean cheapening.
As of June 7, soybean demand prices in many regions of Ukraine are mostly in the range of 380-492 €/ton, which is on average 16 €/ton lower compared to the figures a week earlier.