Organic soybean meal prices continue to face headwinds as buyers have stepped away and are content with purchasing inventory as needed. Merchandisers tell Fastmarkets that the market is long, and until inventories are worked off, it will remain under pressure. Organic soybean meal CNF Baltimore is quoted near $800-900 per metric. Few buyers are stepping up. Feed mills that locked in higher prices are looking to dollar cost average at lower levels.

Fastmarkets continues to wait on word about whether there will be a change to the organic soybean meal duty (countervailing and anti-dumping) from India. There is word that some Indian exporters are looking to lobby for a change in the duty.

The rumor mill in the organic soybean meal space is also circulating. Merchandisers tell Fastmarkets that a shipment of 4,000 metric tons of organic soybean meal from Nigeria, contracted by a North American merchandiser was rejected by…