SPIKE BROKERS DEALS
- corn DAP Odesa, Ukraine, Apr @227$
- sunflower meal DAP border Ukraine, Apr @239$
GLOBAL NEWS
UKRAINE
- In March, Ukraine exported the following volumes of grains, oilseeds, and their processed products: corn – 2,391 thousand tons, wheat – 1,129 thousand tons, barley – 68.6 thousand tons, soybeans – 369.1 thousand tons, rapeseed – 32.4 thousand tons, sunflower seeds – 24.1 thousand tons, sunflower oil – 440.7 thousand tons, soybean oil – 53.8 thousand tons, and oilseed meal (soybean and sunflower) – 493.4 thousand tons.
- As of April 3, spring crops have been sown in Ukraine as follows: spring wheat – 116.5 thousand hectares, spring barley – 551.8 thousand hectares, sunflower – 33 thousand hectares, and soybeans – 2.6 thousand hectares.
USA
- The United States is introducing a baseline tariff of 10% for all trading partners except Canada and Mexico, while tariffs for certain countries will increase to 40%.
COMMODITY MARKET
CORN
The decline in corn futures on the Matif exchange has led to lower prices on the global physical market, putting pressure on both old and new crop corn.
In the Ukrainian market, corn continued to depreciate under the influence of high domestic supply. In Odesa ports, corn traded in the range of $224–226 per ton on DAP terms, while at the western border, prices stood at €200–202 per ton FCA.
At the same time, the new crop remained largely unchanged, trading at $200–204 per ton DAP.
Market bids:
- DAP Ukraine (Odesa) ~224-226$
- FCA Ukraine (border) ~200-202€
- DAP Italy (North-East) ~235-245€
- DAP Netherlands (South) ~228-230€
Crop 2025:
- DAP Ukraine (Odesa) ~200-204$
- DAP Germany (North-West) ~205-208€
- DAP Netherlands (South) ~217-219€
WHEAT
After a significant price drop last week, the market is showing stabilization in the milling wheat segment. At the same time, feed wheat continues to decline in price, albeit slightly.
The new crop is actively being forward contracted, which has had a positive impact on prices. The spread between old and new crop wheat is narrowing, highlighting increased buyer interest in the upcoming harvest. In Odesa ports, 11.5% protein wheat traded at $213–215 per ton on DAP terms, while feed wheat was priced at $203–205 per ton DAP.
Market bids:
- DAP Ukraine (Odesa) 12.5pro ~230-232$
- DAP Ukraine (Odesa) 11.5pro ~228-230$
- DAP Ukraine (Odesa) feed ~223-225$
Crop 2025:
- DAP Ukraine (Odesa) 12.5pro ~216-218$
- DAP Ukraine (Odesa) 11.5pro ~213-215$
- DAP Ukraine (Odesa) feed ~203-205$
- DAP Germany (North-West) feed ~206-208€
- DAP Netherlands feed (South) ~204-206€
SUNFLOWER
At the start of the week, sunflower seed prices continued to decline as crushers had secured sufficient raw materials for the near term. However, by midweek, the market reversed, and prices began to rise. The primary driver was increased demand and higher prices for sunflower oil, which led to a surge in raw material costs.
In Odesa ports, sunflower oil prices increased by an average of $10–15 per ton over the week, trading at $1,135–1,140 per ton DAP. The premium for high-oleic sunflower averages 6,000 UAH above the price of conventional sunflower.
Market bids for sunflower:
- DAP Ukraine (plant) 48% ~560-580$
Market bids for oil:
- DAP Ukraine (Odesa) ~1’135$-1’140$
- DAP Ukraine (border) ~1’135$-1’140$
RAPESEEDS
The anticipated frosts in Ukraine in the coming days pose risks for winter rapeseed, potentially limiting future supply and affecting the market. Amid these uncertainties, buyers have intensified forward contracting of the new crop, driving up prices for the upcoming harvest.
Market bids for NON-GMO (crop 2025):
- DAP Ukraine (Odesa) 43% ~495-500$
SOYBEANS
Limited supply on the domestic market amid increasing demand is driving price growth. The strongest demand comes from crushers, who are facing a raw material shortage. In Odesa ports, GMO soybeans were priced at $388–392 per ton on DAP terms, while non-GMO soybeans traded at $435–440 per ton DAP.
Market bids for GMO:
- DAP Ukraine (Odesa) ~388-392$
- DAP Ukraine (border) ~380-390$
Market bids for NON-GMO:
- DAP Ukraine (Odesa) ~435-440$
- FCA Ukraine (border) ~385-390€