Euro soybean prices are tumbling, says UFOP

In Germany, UFOP advises The Digest that prices of soybean meal have dwindled considerably, noting that “nearby material is currently down almost one fifth from the July 2015 figure. Downward pressure on prices came, first and foremost, from weak US reference prices for soybean meal and sluggish demand.” UFOP adds that Chicago prices for soybean meal have fallen significantly since the summer in the wake of another large feedstock harvest and extensive processing in the US. Agrarmarkt Informations-Gesellschaft mbH (AMI) reports that the nearby has dropped by one fourth since July 2015.

Asking prices on the German cash market were also lowered considerably in view of weak cash prices on the futures market. At EUR 306 per tonne, low-protein soybean meal (44%) fob Hamburg most recently was down EUR 71 per tonne from mid July. High-protein material (48%) was reduced by EUR 65 per tonne, to EUR 338 per tonne.

Supplies continue to differ greatly between North and South Germany. In the south, nearby supplies will be sold out by the beginning of the new year. January futures cost around EUR 20 per tonne more in the south than in the north.

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