European grain prices remain elevated and continue to experience spare trading activity. Organic corn prices are offered near €430 per metric ton for Ukrainian origin. There are new sources of organic corn coming to Europe from Africa. Merchandisers tell Fastmarkets/The Jacobsen that this corn is priced near €390 delivered. Organic wheat is also difficult to attain. Prices seem to be floating between €350-370 per metric ton. Organic soybean meal prices are also elevated. Most contracts seem to be priced near €1250-€1300 per metric ton. For February, some spot transactions are trading as low as €1200, and contracts with special requirements quoted near €1,350 per metric ton.

Transportations costs in Europe are also moving higher. There seemed to be a lag between trucking rates in Europe and the increase in trucking rates in the United States. Rates in Europe have increased to €1.4-1.6 per KM. This level is approximately…