SPIKE BROKERS DEALS
- corn DAP Odesa, Ukraine, Mar-Apr @224$->226$
Crop 2025
- corn DAP Odesa, Ukraine, Nov @203$
GLOBAL NEWS
UKRAINE
- Spring sowing has begun in Ukraine. As of March 13, the area planted with spring crops includes: wheat – 12.9 thousand hectares, barley – 45.2 thousand hectares.
- In its March update, the USDA revised its estimates for Ukraine’s grain and oilseed production: wheat – 23.4 million tons (previous estimate – 22.9 million tons), corn – 26.8 million tons (25.5 million tons), barley – 5.8 million tons (5.9 million tons), soybeans – 7 million tons (6.6 million tons), rapeseed – 3.8 million tons (3.75 million tons), sunflower – 13.4 million tons (12.9 million tons).
- The difference between new crop corn quotations on CPT and FOB terms is around $8 per ton, reflecting traders’ expectations regarding transshipment costs in the new season.
WORLD
- The European Union is introducing retaliatory tariffs on U.S. goods. While grains and oilseeds remain unaffected for now, if the U.S. imposes a 25% duty on all EU imports in April, Brussels is expected to respond with equivalent measures. This could hinder the export of corn and soybeans while intensifying trade tensions.
- A labor strike at Argentine oilseed processing plants, triggered by layoffs, has led to a suspension of soybean crushing. This disruption may negatively impact the country’s exports of soybean-derived products.
COMMODITY MARKET
CORN
Corn prices have started to recover. Global markets are showing a positive trend, with increasing trade activity and stronger demand.
On the domestic market, liquidity remains low, but high demand and limited supply are driving up prices for old-crop corn. Over the past week, prices at Odesa ports have risen by an average of $4–6 per ton. Meanwhile, new-crop corn was traded at $200–202 per ton, depending on the delivery period.
Market bids:
- DAP Ukraine (Odesa) ~224-226$
- FCA Ukraine (border) ~210-212€
- DAP Italy (North-East) ~240-250€
- DAP Germany (North-West) ~225-230€
- DAP Netherlands (South) ~226-228€
Crop 2025:
- DAP Ukraine (Odesa) ~200-202$
- DAP Germany (North-West) ~213-215€
- DAP Netherlands (South) ~215-217€
- FCA Ukraine (border) ~182-185€
WHEAT
After a sharp decline last week, wheat prices have begun to recover and are rising actively. Exporters show a strong interest in milling wheat. At the same time, a significant portion of high-quality grain was actively sold to domestic processors, which is now leading to a noticeable supply shortage for export.
Market bids:
- DAP Ukraine (Odesa) 12.5pro ~230-232$
- DAP Ukraine (Odesa) 11.5pro ~228-230$
- DAP Ukraine (Odesa) feed ~224-226$
- DAP Italy (North-East) 11pro ~245-255€
- DAP Italy (North-East) feed ~237-247€
Crop 2025:
- DAP Ukraine (Odesa) 12.5pro ~213-215$
- DAP Ukraine (Odesa) 11.5pro ~211-213$
- DAP Ukraine (Odesa) feed ~201-203$
- DAP Germany (North-West) feed ~213-215€
- DAP Netherlands feed (South) ~212-214€
SUNFLOWER
Demand for sunflower seeds from European processors is weakening, particularly in Bulgaria. Due to a shortage of both local raw materials and imports directly from Ukraine, crushing plants are shifting to rapeseed processing and increasing its procurement.
In the Ukrainian market, sunflower seed prices have risen, driven by strong demand from processors facing unmet crushing needs. Additional support for price growth came from limited supply, as farmers are holding back sales in anticipation of better prices. Conventional sunflower seeds traded in the range of 26200–27000 UAH per ton, depending on the region and quality. Meanwhile, the premium for high-oleic sunflower increased to 6000 UAH compared to conventional sunflower prices.
Market bids for sunflower:
- DAP Ukraine (plant) (46% on dry) ~530-550$
Market bids for oil:
- DAP Ukraine (Odesa) ~ 1’120$-1’130$
SOYBEANS
The domestic soybean market remains sluggish due to low trading activity. While there is demand from buyers, supply is limited farmers are holding back sales due to unappealing prices, while buyers are unwilling to pay more amid low prices on the global market. This has led to a market stalemate.
Market bids for GMO:
- DAP Ukraine (Odesa) ~388-390$
- DAP Ukraine (border) ~370-375$
Market bids for NON-GMO:
- DAP Ukraine (Odesa) ~420-425$
- DAP Ukraine (border) ~415-420$