Price momentum is recovering in Ukraine’s soybean market, driven by increased demand from processing companies and limited supply of raw materials. At the same time, the export segment remains subdued due to competition from cheaper Brazilian products and domestic regulatory factors.

This was reported by the analytical department of the First Ukrainian Agricultural Cooperative (FUAC), established within the Ukrainian Agri Council (UAC).

External energy factors are also providing some support to oilseeds, including soybeans: rising oil prices are boosting demand for vegetable oils. However, the main driver of the market is domestic processing. Demand for soybean meal and oil is increasing, encouraging processors to step up procurement.

“Over the past week, some processors have increased purchase prices by UAH 500 per ton. We are already seeing levels of around UAH 22,000 per ton. By late April to early May, there are all grounds to expect UAH 22,500 per ton. At the same time, given the current market conditions, a rise to UAH 23,000–24,000 per ton cannot be ruled out,” the analysts noted.

At the same time, the export segment remains weak. “Ukrainian soybeans face strong competition from Brazil, which is actively supplying cheaper products to global markets. An additional constraining factor is the 10% export duty,” FUAC added.

Emerging market signals should already be taken into account when planning the sowing campaign and further soybean marketing strategies.

“Soybeans may demonstrate high profitability in the next season. There have already been periods when they were among the most profitable crops. The global market has not yet reached its price peak, and the Ukrainian market still has growth potential. Therefore, there is a rationale for sowing soybeans, but it is important not to rely on them exclusively — geography and crop structure should be taken into account,” FUAC concluded.