Conventional Corn Could Play a Role in Organic Corn Prices

Conventional Corn Could Play a Role in Organic Corn Prices

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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11.21.2024

Domestic US biodiesel blending helps lift October RFS RIN production

Domestic US biodiesel blending helps lift October RFS RIN production

US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...

11.21.2024

CWG trades lower as broader animal fats markets hold steady

CWG trades lower as broader animal fats markets hold steady

The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...

11.21.2024

October commercial cattle, hog production above 2023

October commercial cattle, hog production above 2023

US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...

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