Organic corn prices continue to see better bids than what the market had experienced just a month ago. It’s unlikely that prices will continue to push much higher than the $7 range, with farmers sitting on the offer near $7.25. Merchandisers are saying that more than 50% of the corn from the new-crop harvest has yet to be priced, which will likely continue to weigh on organic corn prices.
Imports of organic corn still play an important role, but total imports as a percentage of the use are only about 20% compared to organic soybean/meal that is closer to 70% in the US. Argentina and Romania remain the predominant importers of organic whole corn into the US while Turkey remains the key exporter of organic cracked corn. For the 9-months ending September of 2020, organic corn imports from Argentina rose 115% year over year compared to the same period in 2019. Organic corn imports into the US from Romania have increased by more than 300% year over year compared…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
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