Fats, Oils, & Fuels Webinar 5/4/21: Customer Q&A
Video shorts from the Fats, Oils, & Fuels Webinar Report Our team of Senior Analysts break down questions from the live Webinar audience during the call on Tuesday, May...
Midwest organic corn prices continue to trade under pressure, capped by the downward movement from the CBOT board. Prices are offered near $7.75/$8.00 per bushel. Solid inventories, and increased short speculation by hedge funds on conventional corn, are weighing on prices. The most recent Commitment of Trader’s report showed a robust 38,000 contract increase in managed money short positions, in futures and options. New crop organic corn is seen bid near $6.75 per bushel, compared to old crop, which is approximately $1.00 higher. The weather pattern across the Midwest is expected to remain fair to dry, which will help drive larger yields, and potentially place downward pressure on prices. Meanwhile, Midwest organic soybeans are moving lower, as feed prices are better offered. CBOT board prices are also on the defensive, as managed money reduced long positions by slightly more than 15,000 contracts. The demand for soy oil has moderated, allowing prices to edge towards the 35 cents per pound range.