Organic Soybean Imports Slide in April

Organic Soybean Imports Slide in April

 

Organic soybean prices remain elevated trading close to the $21 level in Pennsylvania. While offers are at the $20.5 level in the mid-west, buyers are bidding closer to $19.50. Expectations are for bean and meal imports to begin to arrive in the US at a regular rate come July, according to Merchandisers. India continues to experience issues with the supply chain, which will keep upward pressure on prices. Organic soybean prices in India are quoted near $645 per metric ton FOB, but shipping rates have increased hovering near $105 per metric ton.

Organic soybean imports declined 70% month-over-month according to The Jacobsen insight. Imports of organic soybeans are also down 72% year over year for April. The Jacobsen now forecast that organic soybeans will be down 8% for the 2019/2020 season on a year over year basis. Jacobsen also believes that organic soybean imports for June will also be lower than normal, given issues related to the supply chain in…

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