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German spot prices for rapeseed meal and GMO-free soybean meal rose sharply in the second half of 2020, with GMO-free soymeal up 146 euros per ton to 602 euros FOB Hamburg since July. The increase followed Chicago rallies driven by South American drought concerns, tighter Argentine and Brazilian supplies, and heavy Chinese buying.
Higher soymeal benchmarks lift the price of competing protein feeds like rapeseed meal, which gained competitive standing against GMO-free soymeal. Buyers face higher protein costs and may shift to rapeseed meal.
biobased-diesel.comUFOPJan 14, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
