09.20.2024
BOHO spread reaches two-month high
The BOHO spread rose sharply on Friday September 20 to its highest since late July, as October soybean oil futures on the Chicago Mercantile Exchange traded higher and ultra-low-sulfur...
The chart of organic soybeans (Midwest) shows that prices have reverted to their long-term range between $15.6 and $22.5. If the prices of organic soybeans between early 2021 – as the pandemic started to impact the supply of organic soybeans and the duty on Indian organic soybean meal was announced – and today, the current level near $20-21 has reached a historical fair value range. Up to early 2021, organic soybean meal from India was offered at times as low as $550-600 per short ton, which weighed on organic soybean prices (both domestic and imported soybeans).
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