Organic corn prices appear to be forming a bottom. While spot prices are still going for close to $6 per bushel in the mid-west, merchandisers are telling The Jacobsen that to get coverage further out, most farmers will not move unless the number is closer to $7. Merchandisers claim Q1 transactions have occurred at $6.50 per bushel in the mid-west. This puts corn closer to $8.75 per bushel in Pennsylvania or just above $310 per short-ton.
Prices on the west coast are also on the rise. Merchandisers are telling The Jacobsen that organic corn shipped from the mid-west is trading closer to $330-$340 per short ton. This is up approximately $20 per short ton over the past 2-3 weeks, which might mean that organic corn prices have found a bottom.
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