Organic corn prices continue to remain subdued with bids seen near $6.50 and offer above $7.25. Farmers are not willing to lock in organic prices for new crop corn at levels below $7, while consumers are bidding at depressed levels. There is little activity in the spot market and it appears that most consumers are covered through the balance of 2020. Bids are seen near $310 per ton on the east coast. Farmers, as well as merchandisers, are reporting to the Jacobsen that the new-crop corn harvest looks strong. On the conventional side, corn silking is ahead of the 5-year average for most of the mid-western states.

With prices at depressed levels, it unclear if imports will continue to make their way into the US in August. Last year, nearly 50K tons of organic whole corn and organic cracked corn hit US shores. This compares to only 13K tons of both organic whole corn and organic cracked corn that was imported into the United States in August of 2018.

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