Organic soybean meal prices in the United States remain elevated. They will likely remain unchanged until the duty decision on 8/31/21. European organic soybean meal prices are also elusive. Merchandisers tell The Jacobsen that this is a Chinese organic soybean meal imported into the EU during May and June, but most of that volume has been consumed.
We are now on the eve of the new crop in the southern portions of Europe. Organic rapeseed is offered at 850-euros per metric ton, FOB Constanta. The lack of organic soybeans has put upward pressure on rapeseed which has a lower protein content. Nutritionists will likely be busy in Europe looking for higher protein content products to substitute for organic soybean meal.
According to the most recent EU Agricultural Economics Brief, total organic commodity agrifoods imported into the EU declined by 11% year over year for 2020. China is the third-largest organic exporter to the EU, but total organic…
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