Ukraine's Soybean Prices Hold Steady Amid Export Crisis

Ukraine's soybean prices have remained relatively stable despite the ongoing export ban from its Black Sea ports. According to Ukraine's electronic grain exchange, GMO soybean prices have fallen by UAH 1,000 per ton to UAH 17,000-18,000 per ton delivered to a factory in a week, which is a decline of 25-30% from the highs reached during the 2025/26 marketing year. This puts them at last year's level.

The prices for sunflower and rapeseed have dropped significantly by 50-70% compared to their season highs, while soybean exports to the EU decreased by 72.9% in the first seven weeks of the 2026/27 marketing year compared to the same period last year. Ukraine's share in European imports has decreased from 13.82% to 5.11%, and the country has dropped from second to third place among main suppliers, behind Brazil and the US.

The high soybean prices on the Chicago Board of Trade are expected to support world soybean prices and export demand for Ukrainian soybeans, particularly with some processing plants in Ukraine shut down due to the crisis. Export prices for GMO soybeans delivered to Poland in September are $460-470 per ton, while non-GMO soybeans delivered to Hungary cost $490-495 per ton.