Organic soybean meal prices are moving higher on the coasts as well as in the mid-west. Organic soybean meal prices in Baltimore customed cleared are quoted near $790-$800 per short ton, which puts them close to $815/$820 per short ton in the Pennsylvania region. Prices in the mid-west for imports are close to $850/$860 per short ton and similar domestically crushed organic soybean meal levels. According to merchandisers, organic soybean meal is currently quoted between $670 and$700 per metric ton FOB Indian.

While prices continue to edge higher, rising approximately $50 per metric ton, around half of the increase in the cost of organic soybean meal into the US has come from the rise in shipping. The most recent levels The Jacobsen has been quoted is $3,250 per container. This is nearly $160 per metric ton up more than 25% over the past 2-months. With GDP in India continuing to contract, its hard to see containers making their way back to India from other regions. This could continue to put upward pressure on shipping costs.

While The Jacobsen did not see a lot of organic soybeans that arrived in November, there appears to be a stable balance of organic soybean meal that was imported in November. Organic soybean meal imports increased slightly month over month in November, according to The Jacobsen. On a year over year basis organic soybean meal imports increased by more than 200% for November. For the 11-months ending November 2020, organic soybean meal imports increased by approximately 2.5% year over year compared to the same period in 2019. The trend in organic soybean meal imports continues to be upward sloping.