The organic soybean prices and byproduct complex continues to experience upward price pressures. COVID pressures are again rearing its ugly head. Mumbai has avoided a complete lockdown but has imposed severe restrictions. Local contacts in India are telling the Jacobsen that operations at Nhava Sheva are expected to be hampered at least till April 30th, though not completely stopped.
Organic soybean meal prices have recently traded at $1,200 per short ton in the Pennsylvania area. The global rally in soybeans has helped buoy India’s soybean prices which closed at record levels on Tuesday. Conventional Indian soybeans closed at $875 per metric ton. Merchandisers have quoted organic soybeans FOB India at $1,100 per metric ton, equal to $30 per bushel. Organic soybean meal FOB India is quoted by merchandisers from $970 and $990. Over the past three years, the historical average ratio between Indian conventional soybeans and Indian organic soybean meal is 1.17,…
04.18.2024
Total RFS blending falls in March, domestic biodiesel blending increases
The Environmental Protection Agency (EPA) reported 1.66 billion gallons of renewable fuel blended within the nation’s transportation fuel pool during March. Blending was six percent below February and...
04.18.2024
EU UCO premium to US continues to grow
The US animal fats and oils market was mostly quiet on Thursday April 18, with a handful of price changes reported. Choice white grease (CWG) into the Missouri River...
04.18.2024
Ruminant meat and bonemeal price pressure in most regions
Price pressure was reported on several regions for meat and bone meal, ruminant and porcine items. Market sources said buyer pushback and light demand, with exception to the pet...