Organic corn prices remain heavy, and merchandisers are far from bullish. Prices continue to hover near $6 per bushel with plenty of corn still in bins ahead of what is expected to be a bumper crop. While the farmer is expected to store most of their corn that is currently not contracted for Q4 and Q1, there is the chance that prices could push below the $6 level. A push below this level might be the catalyst that eventually incents farmers to move away from organic corn and back to conventional corn. Organic corn prices have declined to the lowest ratio in the past 5-years relative to conventional corn. The ratio is now hovering near 1.6, below the lows seen in 2016 near 1.75. The breakdown in the ratio could generate interest to switch back to conventional corn.
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12.24.2024
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