Following up on yesterday’s commentary, there has been only loose historical correlation between organic feed commodity prices and conventional.  That history though is relatively short, and the novel influences of COVID, spiking inflation, and geopolitics have an unknown impact on both conventional and organic crops and their prices relative to one another.

Conventional soybean oil prices have declined, and organic soybean oil prices followed suit in Q4 2023 following a short-term rally.  Further losses in organic soybean oil have tracked conventional this month as well.  Generally speaking, organic soybean oil tracked conventional prices in 2023, with conventional prices briefly topping organic.

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