Organic soybean prices remain bid, and prices face tailwinds. Merchandisers tell The Jacobsen that new crop prices are close to $31.50 in the PA/NY region. Old-crop organic soybeans are barely available, and the price action is thin. One to three load transactions for old crop organic soybeans are still trading occasionally. Organic soybeans imports are very light. For the first 8-months of the current marketing year, organic soybean imports are down by 78K metric tons to 104K metric tons. The 43% drop in organic soybean imports are unlikely to pick up in the back half of the current marketing year, likely putting continued upward pressure on organic soybeans during the harvest.

The weather will also play a role in determining the price of organic soybeans, and where you are located will have an impact. The delta is set to begin its harvest in August/September. Organic soybeans are likely to see average to above-average yields per acre and a sufficient volume of soybeans to…