04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Organic corn prices are firming up slightly, with bids starting to edge higher. Mid-West elevators are moving their bids, above $10 per bushel in some locations and closer to $10.25 per bushel during the Q2. Offers are closer to $11. West coast organic corn is offered near $475-$485 per short ton, while prices on the East Coast are near $450 per short ton.
Organic cracked corn could be on its way to the U.S. The bulk vessel Florinda will arrive in Morehead City, North Carolina, on March 3, 2022. The ship initially came to Constanta, Romania, stopping in Samsun, Turkey.
The rally on the board generates a bullish tone for producers looking to hold on to corn as the conventional market rallies. Any organic wheat or corn that generally comes out of Ukraine will create further tightness on the market. This situation could mean delays in the organic cracked corn during the Q2 that is usually delivered like clockwork to the United States.
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