Organic soybean prices remain elevated, and there is no sign that new-crop prices will begin to ease. According to merchandisers, new-crop soybeans are bid near $37 in the PA region after trading at $38. Non-GMO soybean prices from India are also buoyed, and after selling off in late August, they have rebounded back above the $1,200 per metric ton level. With shipping costs, it’s unlikely that prices will remain elevated even without an AD duty in Q4 and Q1. With PA prices already trading near $38, bids at $35 and $36 in the mid-West are likely to be considered reasonable (although this is not the case yet).
According to Federal Inspections figures, the number of organic turkeys slaughtered increased to the highest level ever during the week of 9/4 for a date in September. The number of organic turkeys killed numbered more than 100K, usually occurring in late October, November, or December. For the current…
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Import demand from...
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