Organic soybean meal prices remain elevated as end users continue to weigh how difficult it will be to generate coverage between May and September. There are few domestic beans to crush in the US and the largest exporter of Organic soybean meal to the US is in lockdown. In fact, India announced Friday that it will extend its nationwide lockdown by two weeks from May 4 but will ease restrictions in some areas. The country had eased some restrictions on April 20 to allow farmers and some industries to resume operations in rural areas and in districts that were free of infections.
The movement between states will not be allowed during the lockdown, although authorities will partially relax measures in areas where there has been no new reports of coronavirus infections. It is unclear if farmers from Madhya Pradesh, for example, will be able to get soybean or soybean meal to the ports.
One of the issues is that despite the lockdown, the number of…
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