SPIKE BROKERS DEALS
- rapeseed NGMO ISCC CPT Odesa, Ukraine, July-Aug @…
- corn FCA western border of Ukraine, Nov-Jan @…
GLOBAL NEWS
UKRAINE
- As of 03.07, Ukraine has harvested: wheat – 277.8 thousand tons, barley – 501.2 thousand tons, peas – 83.8 thousand tons, rapeseed – 71.6 thousand tons.
- According to NAAS, at the beginning of July, the condition of cereal and legume crops is generally satisfactory.
- Ukrainian export results for the 2024/25 MY (July 2024 – June 2025):
• Wheat – 15.62 million tons (–15% YoY). Top importers: Spain – 3.2 million tons, Egypt – 2.1 million tons, Algeria – 1.9 million tons.
• Barley – 2.26 million tons (–9% YoY). Top importers: China – 0.7 million tons, Libya – 0.32 million tons, Spain – 0.25 million tons.
• Rapeseed – 3.14 million tons (–15% YoY). Top importers: Germany – 1 million tons, Belgium – 0.9 million tons, the UK – 0.33 million tons.
WORLD
- Celeres raised the total corn production forecast for Brazil to 147.6 million tons, compared to 135.4 million tons in May, which is significantly higher than the USDA estimate of 130 million tons.
- The U.S. will reduce the tariff on Vietnamese goods to 20%, instead of the promised 25%, easing trade tensions with Vietnam. Additionally, Vietnam will be able to import U.S. goods without tariffs.
- In its June report, Coceral estimated corn production in the EU-27 at 60.5 million tons, which is almost in line with last year’s level but lower than the previous forecast. The next report is expected to show a further decrease due to the heat and lack of rainfall in June.
COMMODITY MARKET
CORN
Liquidity in the corn market is low due to uncertainty in exchange rates and markets for sale. Negotiations regarding European quotas and the ongoing war significantly hinder purchasing activity. In the ports, the price of new crop corn fluctuates between $198 and $200 per ton DAP. Meanwhile, European buyers on the western border are actively signing contracts for the new harvest, aiming to hedge their risks amid the expected decline in harvest potential.
Market bids:
Crop 2025:
- DAP Ukraine (Odesa) ~ 198-200$
- FCA Ukraine (border) ~183-185€
- DAP Germany (North-West) ~200-205€
- DAP Netherlands (South) ~195-200€
WHEAT
The wheat market is under pressure. Demand from buyers is increasing, but supply is limited — farmers are not in a hurry to sell, and physical volumes on the market are almost nonexistent. Due to the lack of coverage, buyers are showing increased activity. The harvesting campaign is just gaining momentum. Port prices for 11.5% wheat ranged from $210 to $212/ton DAP, and feed wheat from $202 to $204/ton DAP.
Market bids:
- DAP Ukraine (Odesa) 12.5pro ~212-214$
- DAP Ukraine (Odesa) 11.5pro ~210-212$
- DAP Ukraine (Odesa) feed ~202-204$
- DAP Germany (North-West) feed ~195-205€
- DAP Netherlands (South) feed ~185-202€
BARLEY
Barley prices continue to rise. The demand from exporters and processors remains high, while farmers are holding off on sales in anticipation of even higher prices.
Market bids:
- DAP Ukraine (Odesa) ~ 200-202$
- DAP Germany (North-West) ~ 170-185€
- DAP Netherlands (South) ~ 175-185€
SUNFLOWER
The sunflower market is currently experiencing a period of low liquidity, leading to a decline in trading activity. Prices remain stable, although most processing plants are on technical maintenance, preparing for rapeseed processing. The demand for processed products is still low, but there is an increased interest in forward contracts.
Market bids for sunflower:
Crop 2024:
- DAP Ukraine (plant) ~ 535-545$
Crop 2025:
- DAP Ukraine (plant) ~ 525-535$ incl. VAT
RAPESEEDS
Rapeseed prices in Europe continue to decline due to weak demand for rapeseed oil and meal. Over the recent period, they have fallen by more than €30/ton. The main reason is the drop in global oil prices, which has weakened the biodiesel market closely linked to the rapeseed segment. The decline in processing profitability limits the sales of oil and meal, reducing the demand for raw material. The premium to the exchange price for Ukrainian rapeseed has deepened from –2 to –12–16 €/ton.
Market bids for NON-GMO:
- DAP Ukraine (Odesa) ~ 535-545$
- DAP Ukraine (plant) ~ 590-600$ incl. VAT
- DAP Germany (North-West) ~ 460-465€
SOYBEANS
The domestic soybean market remains unchanged — trading activity is low both among processors and traders. Price stability is due to the lack of significant changes in demand, which does not stimulate active purchases or sales.
Market bids for GMO:
Crop 2024:
- DAP Ukraine (Odesa) ~386-388$
Market bids for NON-GMO:
Crop 2024:
- DAP Italy (North-East) ~400-405€