Organic corn prices for the old crop are relatively inactive with most of the merchandisers focusing on new crop corn. The market dynamic has reflected consumers who are covered and merchandisers who are willing to through in soft bids. This is counter by farmers who want prices above $7 per bushel picked up and are willing to put corn in bins and hold waiting for prices to move higher. This dynamic had led to inactively, with consumers now focused on locking in prices for Q2 and Q3.
The question is when will farmers feel that they need to sell off their corn and will demand come to the rescue. Costs on the west coast of the United States average approximately $11-bucks per quarter for the first 3-months, which comes out to be nearly 1% per month. In theory, if a farmer needs to go to the market and lease storage, they will need to pay away approximately $0.20 per bushel per quarter.
The organic snack…
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