Soybean and rapeseed prices surge in recent months
Soybean meal prices have strengthened recently leading to a rise in prices in the German spot market.
Prices for rapeseed meal and especially GMO-free soybean meal increased significantly in the second half of the year 2020.
At the beginning of the crop year in July 2020, GMO-free soybean meal with 48% crude protein was worth €456 per tonne.
Six months later, it was up around €146 per tonne at €602 per tonne. This translated to a price of €4.60 per protein percentage per tonne at the beginning of January this year, compared to €3.10 at the beginning of July 2020.
The rise was sparked by sharp price increases in Chicago driven by concerns over drought-related harvest losses in South America.
Also, supply of soybean meal in Argentina waned, fuelling concerns of potential supply bottlenecks in Germany.
Supply in Brazil – the main supplier of GMO-free soybean meal – also tightened, because China literally swept the market over the past several months.
Buyers were also seeking GMO-free soybean meal in other countries. As a result, the focus shifted to European produce, such as Danubian soy, which was yet another factor that added to the price rise.
Rapeseed meal has increased €53 per tonne to €278 per tonne since the beginning of the crop year.
This was the equivalent of €7.93 per percentage of protein per tonne compared to €6.34 at the start of the season.
In other words, rapeseed meal gained some competitive advantage against GMO-free soybean meal.
The difference in prices for one percentage of protein in the above-mentioned oilseed meals recently amounted to €4.52 per tonne, compared to €2.89 per tonne on 01 July 2020 and €2.59 per tonne a year ago.
The Union zur Förderung von Oel- und Proteinpflanzen (UFOP) has drawn attention to the large number of feeding trials the association has been supporting to establish the feed values for the various animal species.
Prices for rapeseed meal and especially GMO-free soybean meal increased significantly in the second half of the year 2020.
At the beginning of the crop year in July 2020, GMO-free soybean meal with 48% crude protein was worth €456 per tonne.
Six months later, it was up around €146 per tonne at €602 per tonne. This translated to a price of €4.60 per protein percentage per tonne at the beginning of January this year, compared to €3.10 at the beginning of July 2020.
The rise was sparked by sharp price increases in Chicago driven by concerns over drought-related harvest losses in South America.
Also, supply of soybean meal in Argentina waned, fuelling concerns of potential supply bottlenecks in Germany.
Supply in Brazil – the main supplier of GMO-free soybean meal – also tightened, because China literally swept the market over the past several months.
Buyers were also seeking GMO-free soybean meal in other countries. As a result, the focus shifted to European produce, such as Danubian soy, which was yet another factor that added to the price rise.
Rapeseed meal has increased €53 per tonne to €278 per tonne since the beginning of the crop year.
This was the equivalent of €7.93 per percentage of protein per tonne compared to €6.34 at the start of the season.
In other words, rapeseed meal gained some competitive advantage against GMO-free soybean meal.
The difference in prices for one percentage of protein in the above-mentioned oilseed meals recently amounted to €4.52 per tonne, compared to €2.89 per tonne on 01 July 2020 and €2.59 per tonne a year ago.
The Union zur Förderung von Oel- und Proteinpflanzen (UFOP) has drawn attention to the large number of feeding trials the association has been supporting to establish the feed values for the various animal species.
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