The non-GMO soybean meal market has been soft as merchandisers focus on the near calendar year. While bean premiums remain relatively elevated, close to $1.40 per bushel over conventionals, non-GMO soybean meal price is beginning to drift lower. Merchandisers tell The Jacobsen, that non-GMO soybean meal demand at dairies is starting to drift slightly lower. In contrast, demand from broiler and layers operation demand for non-GMO soybean meal remains solid. Non-GMO soybean meal prices are currently seen near $100-115 per short-ton over conventional.
The decline in non-GMO soybean meal premiums over conventional could make US domestic crushing of non-GMO soybean meal less attractive. Unfortunately, it’s also challenging to get a premium for non-GMO soybean oil. Merchandisers have told The Jacobsen that most non-GMO oil that is crushed is sold into the conventional market.
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