Organic soybean meal imports up 147%

Organic soybean meal imports up 147%

Organic soybean meal prices have been steady, maintaining a price floor at $800 per ton delivered in Pennsylvania and the Midwest. Imports continue to flood into the US  — which should keep a cap on prices — especially if demand starts to ease.

The future of imports from Africa is in question as prices for organic soybeans compete with non-GMO prices in Asia. Higher freight rates from Africa to the West Coast of the US are more than three times the cost of moving grains from Africa to Eastern Asia.

Organic soybean meal imports continue to trend higher, but organic soybean imports are down. Buyers are more interested in organic soybean meal purchases, as crusher margins are tight, making it challenging to purchase beans and derive profit from the meal and the oil. The crash in conventional soybean oil prices has weighed on organic soybean oil, lowering the floor for organic soybeans and pressuring crush margins.

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