The market for soybeans is still behaving extremely bullish. Back in January we saw 50 % increase, now we are at 100 % over previous years price level and the CBOT broke more than 10 years record high recently. Please be aware CBOT is a commodity price information tool that are used for GMO pricing hence the actual prices from there cannot be transferred directly to NON-GMO FOOD BEANS but as an indicator only.

There seems to be an extreme demand for NON-GMO soybeans due to many different factors which causes a discrepancy between supply and demand. Besides increased prices we are also experienced suppliers that are delivering unsatisfactory soybean quality, so we needed to reject a lot more that we have ever experienced in the past, which also adds even more pressure to the demand side.

Together with this we are also faced with extreme freight rates, especially for deliveries of CTR’s. For Soy Austria®, this causes no internal issues as we only source our soybeans within EU and as close to our production as possible. It does cause issues when shipping our products to our customer overseas.

Soy Austria® is committed to reassure the supply to our customers with the known and agreed quality they need.

By above information we hope to have provided our customers and partners with information for their planning purpose and depending on the further development we are considering providing another information around August-September.