SPIKE BROKERS DEALS
Crop 2024
- corn DAP Odesa, Ukraine, May @237$
- sunflower oil crude DAP center Latvia, Apr-May @1’082€
Crop 2025
- corn DAP Odesa, Ukraine, Dec @…
- sunflower DAP plant, South Ukraine, Sept-Oct @…
GLOBAL NEWS
UKRAINE
- Ukraine’s exports of grains, oilseeds, and their processed products from April 1 to April 16 totaled: corn – 997.1 thousand tonnes, wheat – 387.4 thousand tonnes, barley – 28.8 thousand tonnes, soybean – 181.3 thousand tonnes, rapeseed – 48.2 thousand tonnes, sunflower – 0.5 thousand tonnes, sunflower oil – 270 thousand tonnes, soybean oil – 26 thousand tonnes, and meal (soybean and sunflower) – 225 thousand tonnes.
- As of April 17, Ukraine has planted: spring wheat – 169.4 thousand hectares, spring barley – 656.2 thousand hectares, corn – 69.5 thousand hectares, sunflower – 192.5 thousand hectares, soybean – 11.6 thousand hectares.
EUROPE
- Corn imports to the EU from July 1 to April 15 totaled 16.5 million tonnes, which is 14% higher than last year. The share of Ukraine and Brazil has decreased to 57% and 9.8% (from 67% and 19% last year). Meanwhile, the share of the U.S. has increased to 21% (from 0.8% last year).
- Common wheat imports during the same period totaled 6.5 million tonnes, which is 14% lower than last year. Ukraine’s share in imports has decreased to 64.5% (from 71.1% last year). However, the shares of Canada and the U.S. have increased to 14.2% and 5.9%, respectively (from 8.8% and 1.5% last year).
COMMODITY MARKET
CORN
China continues to actively purchase Brazilian corn, while interest in Ukrainian corn remains limited. In the current 2024/25 marketing year (September–March), exports to this destination amount to only around 120,000 tonnes – 20 times less than during the same period last year. At this stage, there are no signs of a demand rebound due to the strong competitiveness of Brazilian corn.
On the domestic market, corn prices continue to rise amid robust demand from buyers. Over the past week, old crop prices at Odesa port terminals have increased to $234–236/tonne DAP.
Prices for new crop corn remain unchanged at $204–206/tonne DAP to ports.
Market bids:
- DAP Ukraine (Odesa) ~234-236$
- FCA Ukraine (border) ~185-190€
- DAP Italy (North-East) feed ~225-230€
- DAP Germany (North-West) ~220-225€
- DAP Netherlands (South) ~225-227€
Crop 2025:
- DAP Ukraine (Odesa) ~204-206$
- DAP Germany (North-West) ~208-210€
- DAP Netherlands (South) ~210-213€
WHEAT
On the European market, buying activity has slowed ahead of Easter and the extended holiday period.
In contrast, the Ukrainian market continues to show strong activity in the old crop wheat segment. Buyer interest is primarily focused on milling wheat, which supports price growth. Feed wheat remains less attractive, and as a result, the spread between milling and feed wheat has widened to $8–10.
New crop wheat is also seeing steady demand. At the ports, 11.5% protein wheat was traded at $216–218/tonne DAP, while feed wheat was priced at $206–208/tonne DAP.
Market bids:
- DAP Ukraine (Odesa) 12.5pro ~236-238$
- DAP Ukraine (Odesa) 11.5pro ~234-236$
- DAP Ukraine (Odesa) feed ~226-228$
Crop 2025:
- DAP Ukraine (Odesa) 12.5pro ~218-220$
- DAP Ukraine (Odesa) 11.5pro ~216-218$
- DAP Ukraine (Odesa) feed ~206-208$
- DAP Germany (North-West) feed ~208-210€
- DAP Netherlands (South) feed ~205-206€
SUNFLOWER
New crop sunflower seed prices are currently holding in the range of $510–525/tonne VAT included, depending on oil content and delivery region. Amid expectations of a larger harvest in the 2025 season, processing plants are taking a wait-and-see approach, focusing on the potential for improved crushing margins in the upcoming season. As a result, purchasing activity remains subdued, contributing to the accumulation of deferred supply for the new season.
Market bids for sunflower:
- DAP Ukraine (plant) ~550-565$
Crop 2025:
- DAP Ukraine (plant) ~510-525$ incl. VAT
RAPESEEDS
Demand for new crop rapeseed is increasing on the export market. In the eastern and northern regions of Germany, purchasing activity has intensified amid growing confidence among crushers in the upcoming harvest. Current prices for rapeseed with 40% oil content are forming at –€7 to –€10 to the August futures, with delivery scheduled for August–September.
Market bids for NON-GMO (crop 2025):
- DAP Ukraine (Odesa) 43% ~495-505$
SOYBEANS
The global soybean market remains under pressure from abundant supply out of the U.S. and South America, which continues to weigh on price dynamics. Meanwhile, prices on the Ukrainian market remain stable, although trading activity has slowed.
Market bids for GMO:
- DAP Ukraine (Odesa) ~392-394$
Market bids for NON-GMO:
- DAP Ukraine (Odesa) ~435-440$
- FCA Ukraine (border) ~385-390€
- DAP Italy (North-East) ~425-430€