Organic soybean meal prices remain stable. Our view of stable prices is based on a slight decline in demand complemented by declines in organic soybean meal imports and organic soybean production and imports. We continue to see a declining carry-out of organic soybeans and organic soybean meal at the end of the marketing year. 

Organic soybean meal imports in December eased. According to third-party data viewed by Fastmarkets, organic soybean imports were 5.5K metric tons, down from 28K metric tons. According to the U.S. Customs Department for November, the official data was 28K metric tons, up from our estimates derived from third-party vendor data. 

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