Non-GMO corn prices remain steady with the premium relative to conventional hovering near 20-cents per bushel. There has also been very little movement in non-GMO soybean prices which continue to hover at $1.5 over conventional. The steady nature of corn is due to excess supply of non-GMO grain despite steady demand.
Non-GMO chicken sales continue to rise year over year, but likely declined month over month according to the Jacobsen insight. Non-GMO chicken sales are mainly at the retail level, except sales at Chipotle which is a major outlet for non-GMO chicken sales. Non-GMO chicken sales increased by 10% year over year for March but were flat for the 12-months ending March 2020. The trend in non-GMO chicken sales is upward sloping looking at a linear trend of the data series.
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11.15.2024
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