Organic soybean prices remain elevated, but rising conventional prices could put upward pressure on organic prices. This is less of an issue for corn, as the supply that is used for animal feed consumption is mostly domestic. This is not the case for organic soybean and organic soybean meal where 70% of the consumption is imported. The price of Indian organic soybeans have been rallying in conjunction with US conventional prices. The current price of $605 per MT. The India Rupee rate of 4483 RS per quintal is the highest level seen since 2014. One of the reasons the price of organic soybeans has remained elevated but not surged higher has been the selloff in the US dollar over the paset 6-years. If the USDINR was the same price as it was in 2014, the conventional (non-GMO) price of Indian soybeans would be $735 per metric ton or $130 per metric ton higher than current levels. This would at least put organic soybeans in Indian $820 FOB.

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