Organic corn prices on the east and west coast should continue to diverge. Prices in California remain near $485 per short ton, while prices on the East Coast are somewhat depressed by imports from The Black Sea and Canada. Organic corn is offered at $440 per short ton but could be poised to push higher. With transportation from the mid-West, only a few locations can make produce domestic prices this low. Merchandisers tell The Jacobsen that few contracts have traded so far in 2022. Farmers seem to be watching the board and are in tune with the drought occurring in both the U.S. mid-West and South America.
Market participants believe that organic corn is stored in bins, but very few farmers are willing to sell their organic and are waiting to see if they can contract at higher levels. Bids in the mid-West are still below $10 per bushel, but there are very few mid-West locations where you could pry away organic corn without transactions above $10. In several…
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