Organic corn prices in the mid-west remain steady, hovering near the $8.50 range with bids for new crop organic corn near $8.25 and offers near $8.75. Organic corn prices in Europe also remain steady, quoted near 270-euros in Romania and closer to 330-euros per metric ton in Denmark. The rally in conventional corn has kept many organic farmers on the sidelines, as they now appear to be waiting to get $8.50-$8.75 picked up, which would be closer to $9 delivered. Organic corn prices on the east coast are trading near $10.50 and are about the same price in Texas. Organic corn is now trading near $11.20 per bushel in California.
It is the Economy that Will Keep Demand Steady and Absorb Potential Demand Destruction
The Federal Reserve met on Tuesday and kept interest rates unchanged as widely expected. The tone of the Fed Chair Jerome Powell was dovish, as he said once again that the committee would keep interest rates intact for the foreseeable future. Despite rising food…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...