SPIKE BROKERS DEALS
Crop 2024
- corn DAP Odesa, Ukraine, May @245$
- sunflower oil crude DAP Odesa, Ukraine, May @ 1’118$
GLOBAL NEWS
UKRAINE
- As of May 8, the following areas have been sown in Ukraine: spring wheat – 212.6 thousand hectares, spring barley – 733.4 thousand hectares, corn – 2,921.8 thousand hectares, sunflower – 3,508.2 thousand hectares, and soybeans – 1,347 thousand hectares.
- From May 1 to 7, Ukraine exported the following volumes of grains, oilseeds, and their processed products: corn – 588.8 thousand tons, wheat – 205.3 thousand tons, barley – 10.4 thousand tons, soybeans – 30.8 thousand tons, rapeseed – 2.1 thousand tons, sunflower seeds – 0.15 thousand tons, sunflower oil – 100.7 thousand tons, soybean oil – 9 thousand tons, and oilseed meals (sunflower and soybean) – 95.2 thousand tons.
WORLD
- The United States and the United Kingdom have announced a trade agreement that includes tariff reductions.
- Upcoming negotiations between the United States and China this week may ease trade tensions between the two countries.
- China is resuming soybean imports from five Brazilian companies following a suspension due to phytosanitary violations, as part of efforts to reduce reliance on U.S. supplies. Among the approved exporters are global agribusiness giants Cargill, ADM, and Olam.
COMMODITY MARKET
CORN
On the Ukrainian market, old-crop corn prices declined due to reduced purchasing activity from traders. Most buyers have already built up sufficient stocks, which led to weakened demand and, consequently, price correction. Additionally, Ukrainian corn remains overpriced on the global market, making it less competitive compared to U.S. or Brazilian origins.
At the ports of Odesa, old-crop corn prices dropped by an average of $4–5 over the past week, trading in the range of $236–238/MT DAP.
New-crop corn prices also declined, trading at $200–202/MT DAP.
Market bids:
- DAP Ukraine (Odesa) ~236-238$
- DAP Germany (North-West) ~223-228€
- DAP Netherlands (South) ~220-224€
Crop 2025:
- DAP Ukraine (Odesa) ~200-202$
- DAP Germany (North-West) ~200-202€
- DAP Netherlands (South) ~198-200€
WHEAT
Old crop wheat is gradually losing relevance, putting downward pressure on prices. The most significant decline is observed at the ports amid weak export activity. In contrast, processors are reducing prices more slowly, prompting producers to sell more willingly to local buyers.
Prices for new crop wheat have seen a slight decline. Wheat 11.5 was traded at 210–212 USD/MT DAP ports for July–August delivery, while feed wheat was priced at 198–200 USD/MT DAP.
Market bids:
- DAP Ukraine (Odesa) 12.5pro ~230-232$
- DAP Ukraine (Odesa) 11.5pro ~228-230$
- DAP Ukraine (Odesa) feed ~220-223$
Crop 2025:
- DAP Ukraine (Odesa) 12.5pro ~213-215$
- DAP Ukraine (Odesa) 11.5pro ~210-212$
- DAP Ukraine (Odesa) feed ~198-200$
- DAP Germany (North-West) feed ~199-203€
- DAP Netherlands (South) feed ~198-200€
SUNFLOWER
Sunflower prices on the domestic market continue to decline amid weakening demand from processors. Over the past week, sunflower prices have dropped by an average of UAH 400–600/MT.
Some crushing plants have already secured sufficient raw materials through the end of the month, while others are shifting their capacity toward rapeseed processing. This reduces interest in sunflower procurement and adds further downward pressure on prices.
Market bids for sunflower:
- DAP Ukraine (plant) ~545-560$
Crop 2025:
- DAP Ukraine (plant) ~505-515$ incl. VAT
RAPESEEDS
The anticipated decline in rapeseed production in Ukraine remains a key factor shaping the new crop market. As a result, prices have risen to 505–510 USD/MT DAP ports.
Market bids for NON-GMO (crop 2025):
- DAP Ukraine (Odesa) ~505-510$
SOYBEANS
Non-GMO soybean prices are rising amid strong demand, while interest in GMO soybeans remains limited. In Odesa ports, GMO soybeans are priced at 390–392 USD/MT DAP, whereas non-GMO product is traded at 440–445 USD/MT DAP.
Market bids for GMO:
- DAP Ukraine (Odesa) ~390-392$
Market bids for NON-GMO:
- DAP Ukraine (Odesa) ~440-445$
- FCA Ukraine (border) ~385-390€
- DAP Italy (North-East) ~420-425€