Organic Corn Imports Surge in October

Organic Corn Imports Surge in October

Organic corn prices remain subdued and there is a good reason. Organic corn imports into the United States surged in October, well beyond The Jacobsen’s initial forecasts. Imports of organic corn rose by 43K metric tons, nearly 3-times the 15.5K metric tons projected by the Jacobsen. Nearly 38K tons of organic corn shipped to the US came from Argentina. The Jacobsen does not know the actual dates, and therefore the 15K tons projected to arrive in November could have been unloaded in late October. Still, the number is very impressive and provides a good reason why organic corn prices have remained subdued near $8.25 picked up at the farm in the mid-west.

Despite the robust rise in Organic corn imports in October, which increased 79% year over year for the same period in 2018, year to date, organic corn imports are down 23% year over year for the first 10-months of 2019. The 43K tons of organic corn imports into the United States in October of 2019 is the largest of 2019, the second-largest during the past two seasons next to the 50K tons that are brought into the US in December of 2019.

Year to date, approximately 83K metric tons of organic corn has been imported into the United States from Argentina. This compares to 63K metric tons of imports that hit US shores from Argentina in 2018, up a robust 31%. Organic corn imports from Argentina are on track to hit 108K metric tons in 2019, very close to the 110K initial estimate the Jacobsen forecast earlier in the year.

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