Organic soybean prices are mixed across the United States, as certain pockets are seeing no availability. Merchandisers are reporting prices in the eastern portion of Canada that have dipped, trading at $700 per metric ton delivered. Generally, organic prices trend lower during Q3 and Q4 and begin to rise again in Q1. The Jacobsen has also heard a range of prices for organic soybean meal picked up FOB India. Prices are as low at $595 and as high at $620.
The Monsoon rains in India are also generating the potential for flooding which could hinder crop growth. Rainfall increased across a large part of central India during the past week as expected and additional rainfall in this coming week will raise the incidence of flooding according to World Weather.com. The ground is saturated in many crop regions and a deepening monsoon low-pressure system is going to move across the nation later this week and into the weekend. Southern India into Maharashtra and Gujarat have been wetter than normal so far this season, which to a point could be beneficial.
Organic Egg Production Moderates in July
Organic weekly egg production moderated in July according to The Jacobsen. The average weekly organic egg production declined to 241,360 30-dozen cases in July down from 241,637 30-dozen cases in June. In 2020, the average volume of organic eggs produced per week has increased by approximately 3% year over year compared to the same period in 2019. The uptick has been driven by the period from March through July which has seen a 3.25% increase year over year compared to the same period in 2019.