SPIKE BROKERS DEALS
- wheat DAP Odesa, Ukraine, Aug @
- corn FCA Chop, Ukraine, Jan-Feb @…
- sunflower oil crude DAP Odesa, Ukraine, Aug @
GLOBAL NEWS
UKRAINE
- In Ukraine, harvesting progress remains behind last year’s pace. As of July 10, the following volumes have been harvested: wheat – 1.23 million tonnes (5.71 million tonnes on the same date last year), barley – 1.15 million tonnes (2.42 million tonnes), rapeseed – 0.29 million tonnes (1.12 million tonnes).
- From July 1 to 9, Ukraine exported the following volumes of grains, oilseeds, and processed products: corn – 205.4 thousand tonnes, wheat – 102.6 thousand tonnes, soybeans – 122.6 thousand tonnes, sunflower seed – 0.1 thousand tonnes, sunflower oil – 217.4 thousand tonnes, soybean oil – 14.7 thousand tonnes, and oilseed meal (soybean and sunflower) – 175.4 thousand tonnes.
EUROPE
- EU imports for the 2024/25 marketing season:
• Common wheat – 7.4 million tonnes (–19 %). Ukraine – 60.4 % (71.2 %), Canada – 16 % (9 %), USA – 5.7 % (1.8 %).
• Rapeseed – 7.4 million tonnes (+31 %). Australia – 47 % (33 %), Ukraine – 32.4 % (55.6 %), Canada – 15.2 % (1.8 %).
• Corn – 19.6 million tonnes (+4 %). Ukraine – 55.6 % (70.2 %), USA – 19.9 % (1 %), Brazil – 8.3 % (14.8 %).
• Soybeans – 14.5 million tonnes (+10 %). Brazil – 43.4 % (45.2 %), USA – 40.7 % (same as last year), Ukraine – 10.8 % (7.4 %).
WORLD
- U.S. President Donald Trump has announced the launch of a new tariff policy: starting August 1, 2025, import duties on goods from Brazil will increase from 10% to 50%.
- In China, despite drought conditions in key wheat-growing regions, the wheat harvest is expected to be nearly in line with last year’s level.
COMMODITY MARKET
CORN
The activity of sellers of new crop corn has increased, while buyers remain cautious amid expectations of a global market oversupply in the upcoming season. In the United States alone, the harvest may exceed last year’s volume by over 30 million tons, further boosting global supply. Buyers in the European direction have reduced their activity, purchasing only about 100,000 tons of Ukrainian corn over the past week. Traders operating through seaports are also showing limited engagement, refraining from concluding new contracts due to price trend uncertainty and the high supply potential on the global market in the new season.
Market bids:
Crop 2025:
- DAP Ukraine (Odesa) ~ 200-205$
- FCA Ukraine (border) ~186-188€
- DAP Germany (North-West) ~205-210€
- DAP Netherlands (South) ~200-205€
WHEAT
Due to a significant delay in the harvest of the new crop, traders’ July positions are under pressure, which has supported prices in the short term. Most traders anticipate a price decline once the harvest volume reaches 5 million tons — a milestone that could be achieved within the next few weeks.
Wheat prices at Odesa ports fluctuated in the range of $211–213 per ton for 11.5% protein wheat on DAP terms, and $203–205 per ton for feed wheat on DAP terms.
Market bids:
- DAP Ukraine (Odesa) 12.5pro ~213-215$
- DAP Ukraine (Odesa) 11.5pro ~211-213$
- DAP Ukraine (Odesa) feed ~203-205$
- DAP Germany (North-West) feed ~200-207€
- DAP Netherlands (South) feed ~198-203€
BARLEY
Barley prices have also increased due to the global delay in harvesting early grains. At the same time, the main export program for barley and trader activity are largely confined to the period up to September. As a result, a significant price decline is possible once the market becomes saturated with supply.
Market bids:
- DAP Ukraine (Odesa) ~ 205-207$
- DAP Germany (North-West) ~ 170-185€
- DAP Netherlands (South) ~ 175-185€
SUNFLOWER
Rising prices for sunflower processing products are providing some support to the sunflower seed market, but overall activity remains sluggish. Liquidity is low, and demand is sporadic. Most processing plants have ceased purchasing sunflower seeds from the 2024 harvest.
Market bids for sunflower:
Crop 2024:
- DAP Ukraine (plant) ~ 545-555$
Crop 2025:
- DAP Ukraine (plant) ~ 530-545$ incl. VAT
RAPESEEDS
Uncertainty surrounding the potential introduction of a 10% export duty is weighing heavily on the rapeseed market. Traders are cautious with purchases in hryvnia, which has led to a preference for foreign currency settlements at port. Prices are holding within the range of $535–545 DAP-port.If the duty is implemented, port prices are expected to drop, as traders will factor the levy into their procurement strategies. Processors are also likely to lower their prices due to increased raw material availability.
Harvest progress remains extremely slow — only about 290,000 tons have been collected so far, compared to 1.1 million tons by this time last year.
Market bids for NON-GMO:
- DAP Ukraine (Odesa) ~ 535-545$
- DAP Ukraine (plant) ~ 590-600$ incl. VAT
SOYBEANS
Soybeans are currently in the off-season — last year’s crop is gradually losing relevance, while demand for the new crop remains low. Trading activity is weak, and prices are stable due to a lack of clear market signals.
Market bids for GMO:
Crop 2024:
- DAP Ukraine (Odesa) ~386-388$
Market bids for NON-GMO:
Crop 2024:
- DAP Italy (North-East) ~400-405€