Prices for soybeans are falling due to an excess of harvest: a decrease in demand and an increase in exports.

Last week, soybean prices declined due to an abundance of the new harvest, leading to market saturation. Demand lowered the prices to the level of 17,200-17,800 UAH/ton and 380-395 USD/ton.

Exports are growing, but soybean processing may slow down due to the situation in the meal market. In November, exports increased by 14% compared to October. Soybean exports are unlimited.

19 November 2024

Last week, there was a decrease in soybean prices both in the domestic and export markets. This is primarily due to an excess of the new harvest, which led to a seasonal saturation of the raw material market.

Demand prices for soybeans have decreased to the range of 17200-17800 UAH/ton on CPT-enterprise terms and 380-395 USD/ton on CPT-port terms.

It should be noted that there may be a slowdown in the pace of soybean processing in November. This could be due to the unattractive situation in the soybean meal and cake market. At the same time, soybean exports continue to grow.

Almost 230 thousand tons of soybeans were exported in the first two weeks of November, which is 14% more than during the same period in October.

It is necessary to emphasize that soybean meal is almost the only product from the main oilseeds group that will not have export restrictions.

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