Organic soybean prices remain elevated. Prices have traded in the mid-West in the Illinois market at $34 per bushel for December. Organic soybean prices are offered closer to $35 per bushel for Q1. Organic soybeans are offered in Quebec at CAD-1600 per metric ton, which converts to $34.5 per bushel. Montreal, where most of the organic farming is located, is approximately 650-miles from Shippensburg, PA. Decatur, Illinois, is roughly the same distance which likely means that the prices for organic soybeans in Decatur should be approximately the same as in Quebec. Organic soybean prices on the east coast reflect transportation, but bids appear to have pulled back for the balance of 2021.

Inflation Ahead of Thanksgiving

Inflation is in the news. The October reading for CPI was 6.2% year over year, the highest in decades. Organic turkey prices have increased about 9% year over year according to 3-party data received by Fastmarkets/The Jacobsen. Wholesale…