A rise in organic soybean meal imports could be the catalyst that drives price action during the balance of the marketing year. Rising and steady imports from Africa are expected to accelerate. A pivot in 2024 planting intentions to organic corn could reduce domestic supply for organic soybeans even further.

Africa has picked up where India left off, with total imports surging in Q1. It will be hard for domestic crushers to continue to operate in the black at current organic soybean oil prices, squeezing any profits out of the crush.

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