Organic Corn Prices Could see a Regional Divergence

Organic Corn Prices Could see a Regional Divergence

Organic corn prices remain stable as farmers start to ramp up their efforts in the field during the next few weeks in October. There has been very little corn harvested, and weather in different parts of the country has affected the harvest. The weather in Minnesota and South Dakota is stormy and cold, and during late September and early October Texas was hampered. Merchandisers believe that by the tail end of October, they will have a better gauge of yields.

Many appear to be concerned about the type of corn that will come out of the ground in different parts of the country and there could be a significant divergence in price, depending on location. Many are expected the weight for 15% and below corn to come in under 54-pounds which has made its way to the end-user. Some expect there to be a significant divergence in prices between corn that passes the mustard and product that is discounted.

Meanwhile, organic corn prices mid-west picked up at the farm (the Jacobsen), is hovering near $8/$8.25 per bushel which coincides with the $10.50/$10.60 organic corn price per bushel, the Jacobsen is reporting in South Central Pennsylvania.

Organic corn and cracked corn imports for the Q4 will play a large role in determining prices. Especially if the organic corn harvest in the US is delayed. Expectations for October are 39K tons, then a dip in November and a rebound in December. The average for the Q4 over the past two seasons is 29K tons per month or a total of 87K tons for the quarter.

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