Organic soybean meal prices remain elevated, and most of the liquidity is manifesting in the price of organic soybeans. Organic soybeans are on a tear, with prices transacting at $35 per bushel in the mid-West and CAD 1,600 in Quebec. The average distance is approximately 650-miles to the P.A. and N.Y. feed mills, putting prices in South Central PA near $38.

The chart of Mid-West organic soybeans versus Indian organic soybean meal imports (U.S. Customs Department) shows a negative correlation between the price of organic soybeans and the volume of organic soybean meal imported into the United States. Despite the rise in demand, organic soybeans prices remained flat throughout 2019 and 2020 as organic soybean meal from India satiated the lion’s share of market demand.

The demand for organic grains has not disappeared yet, as…