Main points
- In Ukraine, soybean prices have risen sharply due to limited supply and the switch of some processors from sunflower to soybeans.
- Global soybean prices remain stable, with a slight increase in Chicago futures, while Brazil forecasts a record harvest.
Soybeans have become more expensive in Ukraine / Photo Unsplash
The domestic soybean market in Ukraine is showing a rapid increase in price amid limited supply from farmers. An additional factor was the transition of some processors from expensive sunflower to soybean.
Why has soybean price increased on the domestic market?
In Ukraine, domestic soybean prices have increased sharply due to low sales activity from producers and the refusal of some processors to purchase sunflower, which has risen significantly in price recently, Grain Trade reports. Over the week, processors have increased purchase prices for soybeans with genetically modified organisms by 1,000-1,200 hryvnias per ton – to 18,600-19,700 hryvnias per ton with delivery to the plant.
At the same time, export prices for soybeans with genetically modified organisms delivered to Black Sea ports remained almost unchanged – at 420 – 425 US dollars per ton, or 18,600 – 19,000 hryvnias per ton.
Prices for soybeans without genetically modified organisms in domestic purchases by processors were held at around 19,500 hryvnias per ton, while export quotes at ports increased to 435-440 USD per ton, or 19,000-19,400 hryvnias per ton.
Frosts and snowfalls have significantly complicated logistics, forcing processors to raise prices to secure raw materials for meal production, including for feed needs and export supplies.
From January 1 to 24, Ukraine exported over 168,000 tons of soybeans. The main destinations were Turkey – over 85,000 tons, the Netherlands – 27,000 tons, and Germany – 17,000 tons. At the same time, traders note that export demand remains subdued, especially in the traditional Egyptian market for Ukraine.
According to the European Commission, from July 1 to January 23, the European Union reduced soybean imports to 7.06 million tons, compared to 8.15 million tons a year earlier, despite active supplies of cheap Brazilian products. Low prices for rapeseed and soybean meal are also putting pressure on the market.
What are the prices of soybeans in the world?
On world exchanges, March soybean futures in Chicago gained 1.3 percent over the week to $392 per ton, but overall remained at the previous month's level due to expectations of a slowdown in exports.
China has fulfilled its stated plans to purchase 12 million tons of soybeans from the United States for state reserves and at the same time has begun active purchases of the new crop from Brazil. In the 2025/26 marketing year, soybean exports from the United States have already reached 20.7 million tons, which is 37 percent more than last year and is almost half of the forecast volume for the entire season.
In Brazil, 4.9 percent of the soybean area has been threshed as of January 22, exceeding last year's pace. Thanks to record sown areas and good crop conditions, soybean production in the 2025/26 marketing year is forecast at 176-182 million tons.
Ukraine's domestic soybean market is picking up, but exports are being held back by competition
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The domestic soybean market in Ukraine is becoming more active, although exports are limited by competition with Brazil and the United States.
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Soybean prices in Ukraine fluctuate between 18,600 and 19,500 hryvnias per ton, depending on the modification, while port quotes are stable.