Organic corn prices are continuing to edge higher. Since October, prices have climbed approximately $3 per bushel to $9 delivered in many mid-West locations. There is a divergence of bids in the Wisconsin area, with some lower bids near $8.5 and bids as high as $9.50. Prices are poised to test resistance near the August 2018 highs.
Most of the organic corn trade activity The Jacobsen hears about is north of $9 delivered. During the beginning of Q4 2020, the bearishness in prices was significant, and there we not many merchandisers that loaded up on new crop organic corn. Prices are now as high at $11-$12 in the Pennsylvania region and close to the same levels in California. The inversion in beans is a lot greater than the inversion in corn. Farmers want $9 for new-crop corn.
The widening of the spread between the coast and the mid-West reflects the increase in shipping cost, which will not help the…
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