B a c k g r o u n d . Ukraine is one of the important participants in the global grain market, playing an important role in ensuring global food security. Businesses in Ukraine that are involved in the grain trade and have transactions in foreign currencies need to protect these financial transactions effectively. However, most research works about currency risk management are focused on the context of risk management of financial institutions, not trading companies. The purpose of the study is to develop an algorithm and identify the characteristics of currency risk management on the Ukrainian grain market. M e t h o d s . The article employs common research methods, including analysis and synthesis, statistical methods, comparative analysis, case studies, and expert evaluation. The use of these methods allowed to conduct an in-depth study of currency risk for Ukrainian grain market entities, to identify the current trends on currency market in terms of its volatility, and to develop the recommendations on currency risk management methods. R e s u l t s . The study confirms that managing currency risk on the Ukrainian grain market is a complex process involving several stages. The first stage is the qualitative identification of currency risk. Different types of currency risks faced by grain companies are described and justified. It was determined that an essential part of the next stage in currency risk management for a grain company is calculating the net currency position. The study emphasized that the quantitative assessment of currency risk is influenced by economic factors such as fluctuations of the US dollar on the foreign exchange market, NBU exchange rate decisions and the volume of the foreign currency reserves, and Ukrainian trade balance. It was found that, at the third stage of currency risk management, the primary objective is to select a management method aimed at eliminating or minimizing the impact of currency fluctuations on a grain company financial indicators. C o n c l u s i o n s . It was determined that each of the currency risk management methods studied for the grain market has its own advantages and disadvantages. The use of currency forward and option contracts is proposed as currency risk management methods, tailored to different economic scenarios. It was concluded that the key stage is monitoring of the effectiveness of these currency risk management methods to continuously evaluate and adjust the approach in the dynamic currency environment by grain companies.

The EU Regulation on deforestation-free products (EUDR) introduces a new regulatory framework in which the agri-environmental characteristics of production become a prerequisite for access to the European Union market. In this paper, the EUDR is conceptualized as a regulatory framework that renders pre-existing agri-environmental risk drivers economically relevant and, in cases of non-compliance, may translate them into financial risks for agricultural businesses through identifiable transmission channels. The study aims to identify these risk drivers and to assess the institutional and technical readiness of Eastern European countries to implement the Regulation’s requirements. The methodological approach combines an analysis of trade exposure to the EU market, an assessment of countries’ spatial and digital capacities, and the construction of an Institutional and Technical Readiness Index for EUDR implementation. The results indicate an asymmetric impact of the Regulation across the region, driven by cross-country differences in the availability of geospatial data, the maturity of digital traceability systems, and the effectiveness of institutional coordination. The findings further show that broad indicators of digital trade facilitation are insufficient to explain variation in readiness to comply with EUDR requirements. Overall, the study identifies the key institutional and technical constraints shaping EUDR implementation readiness and demonstrates how these constraints translate into financial risks along agricultural supply chains.

Introduction. In today's environment of price instability in global commodity markets and fluctuating exchange rates, grain companies are being forced to look for new, non-standard methods of hedging financial transactions in order to respond quickly to current economic changes. The purpose of the paper is to study the features of price, currency and external risks of the grain business, as well as to identify the main characteristics and to justify possibilities of using ad hoc hedging on the grain market in Ukraine. Results. It was emphasized that the effective use of ad hoc hedging reduces uncertainty and risk for producers, traders and exporters, helping to increase the competitiveness of the grain market and ensure Ukraine's economic stability in the face of global instability. The study presents a SWOT-analysis of ad hoc hedging on the grain market in Ukraine, particularly as its strengths and weaknesses, as the opportunities and threats to development. It was highlighted that grain companies have limited access to futures or options due to underdeveloped derivatives market in Ukraine and the lack of functioning agricultural stock market. Therefore, grain companies use financial instruments such as forward contracts or manual balancing of cash flows by combining different types of loans or deposits. Conclusions. It was determined that ad hoc hedging is an appropriate and effective risk management method for small and medium-sized grain companies that do not have access to complex financial instruments and do not need to use them. In addition, it was concluded that ad hoc hedging is not a planned risk management method and does not have a single type of financial instrument for its use.