Argus Murmurings: Argentina FX change will support exports to US

Organic soybean imports in April 2025 were estimated at 42,200 MT, more than double the same month in the prior year. Argentina was the largest supplier with 23,100 MT. Ukraine supplied 11,500 MT and Canada sent the remaining 3,600 MT. 

The Argus AgriMarkets Organic and non-GMO service weekly delivered spot price for feed-grade organic soybeans delivered to the U.S. Corn Belt for the week ended May 23, 2025, was $21.65/bushel, which is up $1.38 from a month prior and $2.20 from a year prior.  

Recent shipments of organic soybean meal from Africa are taking 20-30 days longer to reach the East Coast than in recent years, market contacts said. Importers have struggled to build U.S. supplies and are shipping most meal to buyers upon receipt, reducing soymeal availability to cover other delayed shipments. 

The delay in imports also left some end-users short, which they covered by purchasing from domestic supplies of organic soymeal. U.S. crushers in the Corn Belt sold meal into both coasts over recent weeks. Including the cost of freight, a short ton of domestically crushed meal can cost over $1,100/short ton delivered into the West Coast, market contacts said. 

Energy and commodity price reporting agency Argus acquired Mercaris, the leading provider of organic and non-GMO agricultural commodities in the US, in June 2023. The company is an SSGA member and a monthly contributor to the SSGA E-newsletter.