Organic corn prices remain heavy, and merchandisers are far from bullish. Prices continue to hover near $6 per bushel with plenty of corn still in bins ahead of what is expected to be a bumper crop. While the farmer is expected to store most of their corn that is currently not contracted for Q4 and Q1, there is the chance that prices could push below the $6 level. A push below this level might be the catalyst that eventually incents farmers to move away from organic corn and back to conventional corn. Organic corn prices have declined to the lowest ratio in the past 5-years relative to conventional corn. The ratio is now hovering near 1.6, below the lows seen in 2016 near 1.75. The breakdown in the ratio could generate interest to switch back to conventional corn.
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05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...