SPIKE BROKERS DEALS
Crop 2024
- corn DAP Odesa, Ukraine, Mar-Apr @230$->231$
- feed wheat DAP Odesa, Ukraine, Apr -May @232.5$
- soybean GMO DAP Odesa, Ukraine, Mar-Apr @394.5$
- sunflower high-oleic DAP Odesa, Ukraine, Mar-Apr @32’800₴
Crop 2025
- corn DAP Odesa, Ukraine, Nov @206$
GLOBAL NEWS
UKRAINE
- As of March 20, 36.7 thousand hectares of spring wheat and 133.5 thousand hectares of spring barley have been sown in Ukraine.
- Weather fluctuations in February and March did not cause significant damage to winter cereal crops in Ukraine — most of them are in satisfactory condition.
WORLD
- Turkey has set a quota for importing 1 million tons of corn with reduced tariffs until the end of June. This decision is expected to boost demand from Ukraine and Romania — the leading exporters of this crop from the Black Sea region — supporting exports and prices on the global market.
- Grain and oilseed production estimates for the 2025/26 marketing year (MY) from the IGC: wheat — 807 million tons (compared to 799 million tons in the 2024/25 MY), corn — 1,269 million tons (1,217 million tons), soybeans — 427 million tons (418 million tons).
COMMODITY MARKET
CORN
The corn market continues to grow rapidly. Over the past week, prices at Ukrainian ports have increased by an average of $8-10 per ton. The increased supply of this grain crop has not slowed down the price growth, as strong demand from both the domestic market and external buyers is creating upward price pressure. In the ports of Odesa, corn was traded at $229-232/t DAP, while at the western border, it was priced at €214-216/t FCA.
New crop corn has also started trading more actively, with its price at the port reaching $204-206/t DAP.
Market bids:
- DAP Ukraine (Odesa) ~229-232$
- FCA Ukraine (border) ~214-216€
- DAP Italy (North-East) ~245-248€
- DAP Germany (North-West) ~228-232€
- DAP Netherlands (South) ~228-230€
Crop 2025:
- DAP Ukraine (Odesa) ~204-206$
- DAP Germany (North-West) ~218-220€
- DAP Netherlands (South) ~215-217€
WHEAT
The domestic market shows dynamic growth. Low stocks of milling wheat are limiting supply, supporting price increases, while the rising cost of corn, which competes with feed wheat in the feed market, further stimulates the growth of feed grain prices.
On the European market, demand for new crop feed wheat is increasing. Prices stand at €216–219/t DAP for Germany and €212–215/t DAP for the Netherlands.
Market bids:
- DAP Ukraine (Odesa) 12.5pro ~238-240$
- DAP Ukraine (Odesa) 11.5pro ~236-238$
- DAP Ukraine (Odesa) feed ~230-232$
- DAP Italy (North-East) 11pro ~248-250€
- DAP Italy (North-East) feed ~243-245€
Crop 2025:
- DAP Ukraine (Odesa) 12.5pro ~218-220$
- DAP Ukraine (Odesa) 11.5pro ~215-217$
- DAP Ukraine (Odesa) feed ~205-208$
- DAP Germany (North-West) feed ~216-219€
- DAP Netherlands feed (South) ~212-215€
SUNFLOWER
The increase in sunflower oil prices on the global market over the past week by $25/t has led to a rise in sunflower seed prices in Ukraine. The strengthening of the hryvnia could not curb this growth — sunflower seed prices increased by 600-800 UAH/t. This is driven by strong demand from processors amid limited supply, as farmers are holding back sales of sunflower seeds.
In the spot market, sunflower oil traded at $1,140-1,145/t DAP port, while granulated sunflower meal was priced at $230-235/t DAP port.
At the same time, crushers are more actively contracting new crop sunflower seeds, offering $550/t incl. VAT for lots with 46% oil content on DAP port terms.
Market bids for sunflower:
- DAP Ukraine (plant) (46% on dry) ~535-555$ (excl. VAT)
Market bids for oil:
- DAP Ukraine (Odesa) ~1’140$-1’145$
SOYBEANS
Limited supply in the market has led to a slight increase in soybean prices. There is demand from buyers; however, they are reluctant to significantly raise prices, as global soybean quotes remain at minimal levels.
Market bids for GMO:
- DAP Ukraine (Odesa) ~392-395$
- DAP Ukraine (border) ~375-380$
Market bids for NON-GMO:
- DAP Ukraine (Odesa) ~425-430$
- DAP Ukraine (border) ~380-385€
- DAP Italy (North-East) ~425-430€