We feel that a drop in conventional corn prices will likely accompany another leg down in organic corn prices. The differential between organic corn prices (Jacobsen – Midwest) and CME corn has been as wide as $6 per bushel and as narrow as $2/bu. on a monthly basis. The current level of 3.7 is slightly below the average spread. You can see from the chart that the difference narrowed to its historical low during early 2021, driven by the lack of demand during the pandemic. While conventional corn dropped, the decline in organic corn was the catalyst for the contraction in the difference. Additionally, it does not appear that organic corn prices fell while conventional corn rose for an extended period.
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11.12.2024
Glycerin prices seen supported by declining biodiesel margins
Glycerin is a co-product of biodiesel production, and its supply is dependent on biodiesel margins. The more profitable the margin environment for biodiesel, the larger the supply of glycerin....
11.12.2024
Animal fats and oils prices stable amid losses in vegoil markets
"I think the big drop in soybean oil had everyone take a pause,” one source said.
December soybean oil futures closed at 46.23 cents per lb on Tuesday, down by...
11.12.2024
Meat and bonemeal, bloodmeal higher on active demand
Prices were highly mixed on Tuesday November 12, with active demand reported by market sources.
Porcine meat and bonemeal prices were steady to higher according to sources...