Organic corn prices continue to face downward pressure and the likely robust new crop is not helping. The USDA’s Crop Progress report shows a significant improvement over the 2019/2020 season for both convention corn and conventional soybeans which bodes well for the organic corn and organic soybean crop. This will create headwinds for organic corn since most of the organic corn that is consumed in the US is domestically grown.
The Jacobsen forecastings that approximately 7-million bushels of organic corn will be imported into the US during the 2021 season down from the 8.1-million bushels that are expected to hit US shores during the 2019/2020 season. This does not include the nearly same level of imports of organic cracked corn that has been imported into the US.
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