Despite the seasonal downturn in activity in the global market during the holiday period, Ukrainian soybean exporters are maintaining their positions, reported the analytical cooperative "Pusk," established under the All-Ukrainian Agricultural Council.
"In spite of the challenging economic situation in China, which may reduce soybean imports to 95-100 million tons, the market is showing stability. Since August of last year, prices on the exchange have remained within stable limits, and short-term declines are quickly compensated. This indicates that the exchange market is currently ignoring global challenges. Of course, high global stocks add uncertainty, but the trend of price recovery persists. Ukrainian soybean exporters can leverage this period to strengthen their positions," analysts believe.
They noted that historically, January, February, and March show a trend of rising soybean prices. In this regard, they forecast an increase in soybean prices in Ukraine by the end of January.
"We are already seeing price increases: on the domestic market, they have risen by 200-300 UAH/ton, and in currency terms – by $3-5/ton. It can be predicted that conditional prices based on CPT will reach $400-410/ton in January, and in February-March, they may even exceed this level. This is a favorable period for farmers planning to sell their products," concluded "Pusk."
Source: https://uacouncil.org/uk/post/ukrainska-soa-vidnovlue-pozicii-na-svitovomu-rinku-popri-skorocenna-importu-kitaem