Since the beginning of last week, Ukrainian processors have started increasing purchase prices for GM and non-GM Soybeans to lower. It should be noted that this trend is observed for the first time since mid-July.
This price situation is mainly due to the active promotion of the harvest campaign and the absorption of a large number of soybean offers from farmers in urgent need of farm asset replenishment. In addition, it should be noted that a number of farmers have tried this oilseed primarily with low quality values and a more favorable price situation for the sale of higher quality ones Soybeans expected. However, the price adjustments were made by high demand from most processing companies, which prevented a sharper price decline.
For non-GM soybeans, there has been a more significant decline in demand prices - as of October 17, they are predominantly between €413-455/Tonne and 435-463 €/ton a week earlier. At the same time, purchase prices for GM oilseeds fell on average by €14/ton to €358-400/ton.