Non-GMO Premiums Remain Stable as Flat Price Rises

Non-GMO Premiums Remain Stable as Flat Price Rises

Non-GMO corn and Non-GMO soybean prices are rising, but premiums remain stable. The rally in conventional soybean and corn prices, which broke out again on Tuesday, fueled the flat price rally. Corn prices hit a fresh 7-year high, while soybeans have hit a 6-year high. With conventional corn prices pushing above $6 per bushel, non-GMO corn producers seem happy to sell their product directly into the traditional market and not work about attempting to get an additional 10-20 cents per bushel on their flat price. The rally in the U.S. board price is likely to generate additional tailwinds for Indian conventional soybean prices, which hit an all-time high of $1,080 per metric ton.

European organic soybean prices are elevated. The most recent quotes at $1,100 per metric ton seem inexpensive relative to conventional prices closing at $1,080 per metric ton FOB India. The upshot is that consumers in Europe are now balking at prices at these current levels. Consumers…

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