Organic corn prices continue to edge higher ever so slowly. Despite the rise in the conventional spot price and the $1.6 carry to December 2021, there is much less carry in organic corn prices. Organic soybean prices seem to have a robust carry. Spot prices in Canada are trading as high at $1,300 (Canadian) per metric ton, but Q4 and Q1 are closer to $1,100 Canadian per metric ton. It’s hard to find organic soybeans in the U.S. Some one-load or two-load deals are going through, but that is about the extent of the activity. Spot prices in the U.S. in the midwest are trading near $29 if you can find them.
The robust carry in the U.S. matches the extensive carry in organic soybeans in Quebec. Unfortunately, there is still a wide bid-offer spread where consumers are unwilling to pay much above $25 per bushel delivered mid-west for new crop organic soybeans, while producers are looking for prices in the high $ ’20s.
In the…
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...