European grain traders are back from their summer holiday’s and trading activity has picked up slightly. Organic soybean prices remain buoyed driven by the price in India. It appears that Chinese sellers are completely out of old-crop. Organic prices are driven off FOB India prices close to $620 per metric ton, with approximately a $50 per ton freight rate to Rotterdam. Organic corn prices remain subdued but new- crop is up slightly in Constanta closer to 240 euro per metric ton. Prices in Ukrain remain subdued closer to 200-euros per metric ton.
The lack of supply of proteins in Europe have consumers purchasing yellow peas. Merchandisers are telling the Jacobsen that Europe is nearly out of yellow pea inventories. Organic yellow pea imports to the US are up 86% year over year for the 6-months ending June 2020.
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