Organic soybean/meal prices are elevated and are likely to continue to rise. The Jacobsen is seeing a wide range of organic soybean meal pries with most of them hovering around 650 per metric ton for 48-protein FOB India. There are quotes for 42-pro as low at 600-metric ton FOB India. Organic Soybean prices have moved as high at 675 per metric ton FOB India. This would place organic soybeans near $775 per metric ton at the port and $800 per short ton transloaded and custom cleared in Baltimore.
The news from India continues to reflect a supply chain that is disrupted. Exporters are telling The Jacobsen that imports are now backed up approximately 60-days.
India is experiencing increasing COVID-19 cases now that the central government has allowed states and cities to handle their own relaxation of restrictions. Apple maps mobility sees that walking and driving mobility in India is down 60% compared to down 85% in mid-April and 80% at the end of April….
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