Organic soybean prices remain steady with not much activity to report. Organic soybean meal prices FOB India are hovering just above the $600 level. Organic prices of grains, in general, are subdued, ahead of the harvest. Expectations are for a bumper harvest in India that could be as high as 10.5 million HA.

While heavy rain is expected in the coastal regions this week around Mumbai, it appears that the monsoon weekend in late July around the Madhya Pradesh and Maharashtra regions which had been experiencing favorable rain conditions but now need water. As of July 31, planting of oilseeds was 14% higher year over year. In the US the soybean crop looks upbeat. Farmers and Merchandisers are telling the Jacobsen that a robust harvest is expected.

Organic Milk Retail Sales Continue to Rise

Organic retail sales continue to rise, but the increase in demand has yet to spill over into the feed market. Organic milk sales for July have increased 10% year over year compared to the same month in 2019. For the 7-months ending July 2020, organic milk sales are up 11% year over year according to Jacobsen. For the 4-months ending July 31, 2020, which reflect the impact of COVID on organic milk revenue, sales are up 14% year over year according to The Jacobsen. The increase in organic milk sales values is coming from higher volumes as opposed to an increase in the price due to the lack of supply. Organic milk retail prices are down 1% year over year for the first 7-months of 2020, compared to the same period in 2019.