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Chinese exports to the EU, have eased over the past 8-months beginning their negative trajectory in September of 2019. The 12-month moving average of Chinese exports of organic soybeans/meal to EU has dropped from approximately 3K metric tons per month to nearly 2K metric tons per month according to The Jacobsen. This has substantially buoyed prices. Merchandisers are saying that prices are offered for the Q4 at 800-Euros per metric ton by some Chinese sellers. Spot prices are as higher as 1,000 Euros per metric ton with nobody actively trading.

Chinese exports of organic soybeans/meals have a seasonal tendency to rise in the Q4 but 2019…