Imported organic soybean meal prices are rising as the NCDEX breaks out to fresh-highs. Many Indian exporters use the exchange to gauge the value of organic soybean and organic soybean meal. Conventional soybean prices on the NCDEX closed at $680 per metric ton. Historically the premium of organic soybeans to conventional soybeans has traded in a relatively tight range. With volatility rising, the premium of organic over conventional appears to be moving higher.
Quotes for organic soybeans ahead of the weekend were as high at $780 FOB India. Quotes on organic soybean meal FOB India on Tuesday are near $750 FOB. Merchandisers have quoted The Jacobsen organic soybean meal at Baltimore at $930 per short-ton customed cleared and on a truck. This increase would put imported organic soybean meal in Pennsylvania at $955 per short ton, nearly $75 per short-ton higher than the most…
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