Indian Soybean Prices Surge Higher but Prices

Indian Soybean Prices Surge Higher but Prices

Conventional Indian soybean prices are surging higher. At $1,223 per metric ton, prices are at a record high as momentum is accelerating higher.  This issue is essential to consumers of organic soybean meal in the United States. Even without an imposed ITA duty, the combination of the elevated Indian soybean prices and higher shipping rates will lead to higher Indian organic soybean meal prices. Just anecdotally, with convention soybean in India above $1,223 per metric ton, organic soybean meal needs to be a least that level. With shipping rates near $400 per metric ton, the price of organic soybean meal at the ports needs to be at least $1,650.

The U.S. is still receiving organic soybean meal from India. Still, new contracts are hard to come by as consumers want to incorporate the potential Commerce Department duty into the delivered price. Since nobody is willing to take this adverse options risk, organic soybean meal send to the U.S. is slowing. Even though Indian…

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