Organic prices and grain activity in Europe is subdued. Organic corn prices are hovering near the 260 euro per metric ton level but bids are lower. Organic corn from outside the EU, in Ukrain is trading lower according to merchandisers closer to 230-euros per metric ton. Organic wheat in Western Europe is trading near 200-euros per metric ton. Concerns over whether Chinese crushers will be offering organic soybean meal in western Europe is on merchandisers minds. Many Chinese sellers did not fulfill their 2019/2020 contracts according to The Jacobsen insight, and demand in Western Europe remains robust. The Jacobsen has heard Chinese sellers of organic soybean meal making offers to merchandisers in the US. Prices are elevated, above $800 per short-ton CNF Baltimore (pre-customs cleared).
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01.02.2025
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