The trend of strengthening prices for Soybeans, which persisted in Ukraine in the second half of May, has been replaced by downward momentum since early June.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 sales by farmers who consider the set prices to be unacceptably low and the high logistics costs. On the other hand, the presence of the majority of processors previously purchased shares Soybeans and correspondingly low equity activity put significant pressure on prices and negate these factors. At the same time, demand for non-GM soybeans was lower than GM, which contributed to a more significant reduction in the price of soybeans.
As of June 7th, prices will be lower to meet demand Soybean in many regions of Ukraine mostly in the range of 380 to 492 €/Tonne, which is on average €16/tonne lower compared to figures a week earlier.