Organic soybean prices remain elevated, and the inversion between Q3 and new crop remains wide. Merchandisers have reported to The Jacobsen transaction at $36 per bushel for old crop organic soybeans, while bids for new crop remain close to $27-$28. This inversion in the organic soybean term structure is not unique. The December Indian soybean futures contract on the NCDEX currently trades at a $320 per metric ton inversion to the prompt contract which is equivalent to an $8.8 inversion. While this inversion has historically been an excellent guide to futures prices for U.S. Organic soybeans, a duty on Indian organic soybean meal will change that dynamic.
The Indian conventional soybean prices on the NCDEX hit a record high close on Tuesday, rising to $1,126 per metric ton. The recent increase in the dollar value versus the Rupee has helped cap the price increase. The break out in the soybean price movement…
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...