Organic soybean prices continue to remain elevated, as demand continues to remain steady. Organic prices generally experience a seasonal decline during the months leading into the harvest. Organic soybean prices are currently trading near $605 per metric ton FOB India. Organic soybean meal is currently slightly lower hovering near $595 FOB India. The Jacobsen has also heard that prices are near $660 per short-ton picked up in Baltimore post transloading and customed clearing.

There appears to be a solid pickup in organic chicken slaughter, which has pushed the 4-week moving average of organic chicken slaughter back up above the long term trend. Organic chicken slaughter has rebounded and is currently down less than 1% year over year for the 7-months ending July 2020. The rebound in organic chicken slaughter since the closure of several slaughterhouses on the east coast and mid-west has been robust. For the 3-months beginning in May of 2020, organic chicken slaughter has increased by nearly 1% compared to the same period in 2019. The make-up in organic chicken slaughter should eventually spill over into feed demand, keeping organic soybean prices buoyed.

Pro-Farmer is Reporting an Increase in Organic Production from Mennonites

Mennonites in the mid-west rate increasing their share of organic production according to Pro-Farmer. The group continues to boost interest in organics, moving away from conventional dairy. The bulk of recent tiling business has been in the organic sector, largely fueled by a group of Mennonites expanding organic production.