Organic corn prices are soft. While there continues to be activity trading old-crop organic corn, there seems to be little interest in new crop values. Organic food corn prices for new crops are off significantly. Yellow organic number 1 is trading near $9, which likely means number 2 is closer to $7-7.50. Blue organic corn prices are down $3-$4 from last year, according to traders active in these markets.
Organic corn had a robust carryover of about 4.5 million bushels, which could double by the end of the current marketing year. We are already seeing more significant than expected organic corn imports year over year. One of the issues is that it appears that in October, the beginning of the current marketing year, 48K metric tons of organic whole corn was imported from Turkey.
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11.21.2024
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