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…