U.S. prices for organic soybeans used to feed livestock and manufacture soy milk have surged to record highs, triggering downstream price increases for food like organically raised chicken and coming as global food prices have risen to their highest levels in a decade. Prices for organic soybeans delivered in the U.S. Midwest in September reached about $33 per bushel, topping the previous record of about $25 per bushel from 2014-15, according to commodity data firm Mercaris, which offers more frequent reporting compared to reports from the U.S. Department of Agriculture (USDA). The most recent USDA report (pdf) painted a similar picture, with August spot prices for feed grade organic soy trading in the $32 dollar range, a historically elevated level. The upward price pressure comes as shortages of container ships to import organic crops and logjams at U.S. ports are sending shipping costs to record highs. According to industry estimates, …
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