Organic corn prices are stable at higher levels. Organic corn prices on the coasts near $12 per bushel in Pennsylvania, California, and Texas keep the mid-West price buoyed. However, merchandisers say that organic corn is likely to remain in bins until the producer can see $10 picked up at the farm. In addition, prices could be further impacted by rain, eroding some of the yields in large producing regions.

While corn prices delivered are still near the $9.25 level in many areas of the mid-West, prices are poised to test the August 2018 highs near $10.50 delivered if prices on the coasts move higher. Texas, Pennsylvania, and California will likely see their prices move at once, and that change will be the impetus that drives the price in the mid-West higher.

The Weather Remains Dry

According to data from the drought monitor, there is expected to be a…