Organic soybean and soybean meal prices are starting to diverge. The premium for organic soybean meal with higher protein levels is rising relative to organic soybean meal with a protein content of less than 43%. A consensus of merchandisers put the differential between $150 and $200 per short ton.
There should be more information on March 18, 2022, when the Department of Commerce is scheduled to release information on final duties for Indian imported organic soybean meal.
It will be hard to get organic soybeans from Turkey, especially since most of the organic soybeans that come into Turkey come from Russia or Ukraine. Today’s clarification of the Russian Eurasian Economic (EEU) Union ban might have some leeway on oilseeds. According to Agricensus/Fastmarkets, the Russian government has banned the export of wheat corn and barely within the EEU through August 31, 2020. Exports are still permitted within the EEU via individual export licenses agreed with…
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