Organic soybean meal prices remain elevated, and merchandisers are becoming concerned that deliveries from India will not arrive. Prices in the mid-west have topped the $800 per short-ton for domestic organic soybean meal. There are still some offers for Q4 10-15 dollars per short-ton below that level. Prices are near $655 per Metric Ton FOB India. There are few old crop domestic beans to buy, and prices for new crop remain near the $20 per bushel level.

The Jacobsen expects farmers to plant more soybeans in the 2020/2021 season. Our 2020/2021 planting intention survey shows that acres that are allocated to soybean planting will increase by approximately 10% in the new crop season.  This compares with a 6% year over year increase in acres planted related to organic soybean during the 2019/2020 season, and a 5% year over year increase in 2018/2019 season. The survey shows that more than 60% of the respondents that said they plan to increase organic…