Organic soybean and soybean meal prices are continuing to face downward pressure FOB India. Prices traded at low at $600 per metric ton, according to merchandisers, with varying offers up to $625 per metric ton FOB India. Organic soybean prices FOB India are also facing headwinds. Prices have declined to $605 per metric ton FOB India. Organic soybean oil prices are also on a downward trajectory. Prices have declined $50 per metric ton in the past 2-weeks dropping to $1,000 per metric ton. Organic soybean meal prices in the US remain volatile. Prices in both PA and the Midwest could have peaked slightly above the $800 mark.

The decline in organic soybean/meal/oil prices is expected at this time of year and prices for Q1 delivery have been experiencing downward pressure. The seasonality of organic soybean prices during the past 5-years shows that historically prices peak in the Q1 and then slide during the balance of the year. Organic soybeans in the US are relatively scarce which is keeping prices buoyed. Historically, organic soybean prices picked up at the farm have hovered near $18.10 in July. During the Q3 organic soybean prices average approximately $18.15 picked up at the farm sliding to an average of $17.90 during the Q4, during the US harvest.

Could ASF Play a Role in Future Imports?

A new flu virus has been found in Chinese pigs which have become more infectious to humans and need to be watched closely in case it becomes a potential pandemic virus. Experts at the moment say that there is no imminent threat. Recall, earlier in 2020 the National Pork Producers Council sent a letter to the US Secretary of Agriculture asking for restrictions on the imports of soy products into the US. In the wake of the ongoing spread of COVID-19, this issue is something to keep an eye on.