Ukraine's Soybean Prices Hold Firm Despite Port Shutdown

Ukraine's soybean prices have remained relatively stable despite the shutdown of Black Sea ports, which has led to a decline in sunflower and rapeseed crop prices. According to agronews.ua, processors have arranged shipments of soybean meal to the EU, reducing their dependence on deep-water ports. The price of GMO soybeans dropped by 1000 UAH/ton within a week to 17000-18000 UAH/ton delivered to the plant, decreasing by 25-30% from the highs reached during the 2025/26 MY.

Export prices for GMO soybeans with delivery to Poland in September are at 460-470 $/ton, and for non-GMO soybeans with delivery to Hungary, 490-495 $/ton. This has helped prevent further decreases in domestic prices. However, if the ports do not reopen and the supply of sunflower, soybeans, and corn on the western borders increases, the cost of logistics will rise, leading to further declines in domestic prices.

The European Commission reported that Ukraine reduced soybean exports to the EU by 72.9% compared to the same period last year, from 265.74 to 71.91 thousand tons. Ukraine's share in European imports decreased from 13.82% to 5.11%, causing the country to drop from second to third place among the main suppliers.