Organic corn prices have seen a swift rise in prices over the past few weeks. Merchandisers have told Fastmarkets/The Jacobse that there have been few trades, and liquidity has been soft. Farmers appear to be holding organic corn in bins, and bullish sentiment has returned. Elevators in Minnesota, Iowa, Illinois, Indiana, and Ohio have also seen prices move above $10 per bushel.

Wisconsin, which has a solid crop, is one of the few places where prices are still near $10 per bushel. While storage facilities are still trying to purchase organic corn below $10, farmers do not seem to be willing to let their old crops go for these levels as the board continues to rise and drought points to higher prices. There are now thoughts that higher rail car rates might impact new-crop on the coasts. Generally, the railroads increase rates by approximately 4% per year. With trucking rates at higher levels, consumers on the Coasts could face a doubling of these levels.

The bullish…