Turkey Halts Exports of Oilseeds and Corn

Turkey Halts Exports of Oilseeds and Corn

 

The organic soybean meal import market could face headwinds. Organic soybean meal prices remain steady on the East Coast and the West Coast. Prices are offered near $1,600 per short ton on both coasts. While some Chinese organic soybean meal is expected to be sold on the West Coast in March, the East Coast will not have that luxury.

Prices could be on the rise now as Turkey announced last week that they were halting exports of any oilseed products, even from the Free Trade Zone. The new measures target supply on bonded warehouses in the free zones according to the industry trade bond Gafta.

This measure could be an issue for feed mills in the United States. According to the U.S. Commerce Department data, about 46K metric tons of organic soybean meal were imported into the United States from Turkey in 2021. It’s unclear how long this situation will last, but since Ukraine has stopped exporting, its neighbors who received oilseeds from…

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

11.27.2023

Appeals Court Strikes Down EPA’s Denial of SREs

Appeals Court Strikes Down EPA’s Denial of SREs

*Please Note – Bob Lane was out of the office today and will return on Tuesday, November 28, 2023.

On November 22, a U.S. appeals court struck down a decision...

11.27.2023

Cattle Slaughter Forecast Lower to Close out 2023

Cattle Slaughter Forecast Lower to Close out 2023

The market was very quiet today coming off of the long holiday weekend. Most were getting their logistics and bid/offer ideas ready for the week and looking ahead to...

11.27.2023

Hog Slaughter Forecasted Above 2022 Into December

Hog Slaughter Forecasted Above 2022 Into December

Pressure on ruminant meat and bonemeal continues to be reported on accounts of excess offerings from slowed/diminished export trade. Participants communicated low $200s per short ton on ruminant meat...

Latest Tweets