Organic Soybean Imports Fall More than Expected

Organic Soybean Imports Fall More than Expected

 

Organic soybean prices remain buoyed, hovering between $19 and $20 per bushel level. Organic soybean meal prices are also feeling upward pressure despite a general seasonal decline ahead of the US and Indian harvest. Prices on the west coast are likely to feel the most upward pressure, as the increase in the cost of shipment payments from India continue to rise. According to merchandisers, shipments from India to the west coast have more than doubled in the past 6-months, rising from approximately $60 per metric ton to $120 per metric ton. While the price for payments has increased from India to the east coast of the US, the rise has not been as sharp over the same period.

Organic soybean imports declined more than expected in August according to the US Custom’s Department. Organic soybean imports decline to nearly 13K metric tons in August nearly 50% what The Jacobsen had estimated. The decline in organic soybean imports has been helping to put upward…

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