U.S. and European organic soybean meal prices are bifurcating. Merchandiser’s quoted Fastmarkets organic soybean meal prices near $1,730 per short ton FOB the crusher in the mid-West. This figure compares to prices closer to €1,150 per metric ton DAP in Germany and The Netherlands for Q2 and Q3. The difference is now approximately $550 per short ton.
A deluge of Chinese organic soybean meal has made its way to European shores, and according to sources, more is on the way. Chinese organic soybean meal generally has a lower protein content than Indian and U.S. organic soybean meal. Despite the difference in protein content, this scenario is not discouraging buyers. Unfortunately, shipping rates are not coming down yet, and any organic soybean meal quoted in China will still have to make the expensive trip over to the United States.
This story hit the tape on Monday. Reuters reported that the U.S. Department of…
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