Organic corn prices (midwest picked up at the farm from the Jacobsen), remain stable hovering just above the $8.10 level picked up at the farm in the mid-west. Consumers appear to be poking around for old crop corn, as corn is either coming in with a higher moisture content or a greater percentage of foreign material. Merchandisers are seeing corn at 30% moisture or 15% moisture with 8-10% foreign material which is likely due to heavy drying of very wet organic corn. The very cold weather in the mid-west is likely to compound this problem, and further delay the drying process. Merchandisers are also saying that organic corn trading activity is relatively subdued in the mid-west, reducing the volatility on organic corn prices.

The Jacobsen Updates its Organic Corn Import Forecast

The Jacobsen is slightly updating its organic corn import forecast, pushing back the dates that imports will arrive at US shores. What appears to be occurring is the importers are delaying their shipments until the carryout is reduced.

The Jacobsen forecast an increase in imports from Argentina, up from the 95K metric tons of organic corn sent to the US during the 2018/2019 season. Expectations are for an increase of 10-20K tons during the 2019/2020 season from Argentina, according to the Jacobsen insight. This will increase the total volume of organic corn imports to approximately 20-25K metric tons during the 2019/2020 season.