Ukraine’s soy market is shifting from exports to domestic processing. Analysts say price signals now favor crushers, while export bids are easing.
On a CPT Odesa basis, export prices fell to about $436 per ton, down $4 week over week. At the same time, the domestic processing parity rose to about $492 per ton, up $4 per ton. The gap highlights stronger competition from processors willing to pay a premium for raw material.
Despite the internal shift, exports remain steady. In March Ukraine shipped around 197 thousand tons, and since the start of the season (September 2025) about 1.6 million tons.
Export geography is concentrated, with key volumes going to Turkey and EU countries, including Germany. This keeps demand stable but increases dependence on a narrow set of destinations.
Processing continues to outperform exports. Soy oil exports rose 19.3% and soy meal exports 21% in September–February of the 2025–2026 marketing year.
