Organic Wheat Prices Stabilize Buoyed by Organic Wheat Breat Revenues

Organic Wheat Prices Stabilize Buoyed by Organic Wheat Breat Revenues

Organic wheat prices have stabilized along with corn prices and continue to see sporadic activity. Feed wheat prices are not much lower than corn, as the perceived overhang of organic corn in storage is weighing on the organic corn market. Prices of organic soybeans continue to be active. Prices for organic soybeans mid-west are hovering near $800. Prices of organic soybean meal imports in mid-west locations is now basically equal to domestic organic soybean meal prices. Merchandisers are seeing a wide range of price for organic soybean oil. Prices in the southeast are reported near $0.60 per pound. In the mid-west the Jacobsen has heard prices between $0.70 and $0.80 per pound.

Demand for organic wheat goes well beyond feed in the US. Sandwich bread is the largest component, followed by flour. Organic sandwich wheat bread sales continue to rise in 2019 and are expected to trend higher during the next 9-months. Organic wheat bread sales in the US increased by 12% year over year in 2019 according to the Jacobsen insight. This compares to a 16% year over year increase in organic sandwich wheat bread sales for the year ending December 2018. The Jacobsen forecasts that for the 2019/2020 season organic wheat bread sales will increase 14% year over year. The trajectory of the 6-month moving average points to an accelerating upward trend in the organic sandwich bread space.

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