U.S. and European organic soybean meal prices are bifurcating. Merchandiser’s quoted Fastmarkets organic soybean meal prices near $1,730 per short ton FOB the crusher in the mid-West. This figure compares to prices closer to €1,150 per metric ton DAP in Germany and The Netherlands for Q2 and Q3. The difference is now approximately $550 per short ton.
A deluge of Chinese organic soybean meal has made its way to European shores, and according to sources, more is on the way. Chinese organic soybean meal generally has a lower protein content than Indian and U.S. organic soybean meal. Despite the difference in protein content, this scenario is not discouraging buyers. Unfortunately, shipping rates are not coming down yet, and any organic soybean meal quoted in China will still have to make the expensive trip over to the United States.
This story hit the tape on Monday. Reuters reported that the U.S. Department of…
07.26.2024
US Court of Appeals sends SRE decision back to EPA; soyoil prices tumble on potentially lower biofuel demand
On Friday July 26, the US Court of Appeals vacated at least some of the blanket small refinery exemption (SRE) denials made by the Environmental Protection Agency (EPA) in...
07.26.2024
Animal fats and oils trade freezes following soybean oil market drop on SRE report
Trading in the animal fats and oils market was quiet on Friday July 26; the California yellow grease market the only one to rise, with prices up to 31-32...
07.26.2024
Porcine bloodmeal, Missouri River, moves higher week on week; June commercial cattle, hog slaughter
US animal protein prices were highly mixed in the week to Friday July 26, with limited trade on both Thursday July 25 and on Friday. Porcine bloodmeal was the...