European Organic Corn Prices are Rising but are Overbought

European Organic Corn Prices are Rising but are Overbought

 

European organic grain prices are rising. While demand for feed is slightly higher, it appears concerns over future production and the impact of COVID is deterring forward sales in the marketplace. Merchandisers have told The Jacobsen that it is not unusual for European consumers to contract 9-months out. Still, suppliers appear unwilling to engage in longer-term contracts for fear that they will not deliver.

Organic corn prices are rising, with organic corn prices from Ukrain up to 285 euro per metric ton with a range of $275-$285. Additionally, the increase in shipping rates is making the delivered prices higher. Merchandisers tell The Jacobsen that shipping rates from Ukraine to the Netherlands have increased to the upper end of the range for small bulk shipping transport. Prices have risen to 30-euros per tons from Ukrain or Bulgaria to the Netherlands region. The increase in rates is up from 10-20-euros per metric ton seen in the early fall.

European…

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