Around the Markets

Organic Corn Prices and Organic Soybean Prices

Organic Corn trading activity has slowed ahead of the holiday season.  Prices will likely remain stable until activity picks up in the new year. There are Q1 bids near $7.25 and offers at $8.0. The carry for Q2 has declined back to zero. NON-GMO yellow #2 CIF remained steady at $0.10 premium over conventional for Q1.

Corn board futures prices have dropped this week and are trading near the bottom end of the 8-week range. Hedge fund traders reduced both long and short positions in futures and options ahead of the holiday. Per the most recent commitment of trader’s report released for the date December 13, 2016, managed money, that is short futures and options, outnumber managed money that is long by approximately, 74K contracts up from 73K contracts, 1-week ago.

Mid-west organic soy bean trading activity is subdued.  Prices have dropped to the $16.50 levels driven by declines in bean meal prices. While the surge in imports are likely in the rear view mirror, the surge in supply has pushed prices down to the  775 range, driving down the price of organic beans.  The carry for the second quarter is flat. NON-GMO soybean CIF for November and December delivery are trading $0.10 –  $0.30 above cash.

Soy bean oil prices tumbled back to earth as rain finally appeared in Argentina relieving tensions that yields would be scares. Target support is seen near former resistance at 35.15 cents per pound.

In The News

Participatory Plant Breeding for Organic Staple Crops in Illinois The Grain Guild is applying for funding to create an organic staple crop seed system for the Midwest. If this $2 million Organic Research and Extension Initiative grant is funded, the project will use winter nurseries, modern plant breeding techniques and modern genetics improved over time through traditional plant breeding to create the system. (Pantagraph)

Letter Urges Scott to Take the State Toward Organic Dairy A coalition that includes dairy farmers, academics, environmentalists and business owners is encouraging Governor-elect Phil Scott to have Vermont develop its own dairy policy. The letter stated that the group said it believes the federal policy hurts Vermont farmers. (Addison County Independent)

Campbell’s Launches New Organic Soup Line, Souplicity Campbell’s is staying on trend with the release of its new line of organic soup, Souplicity. The new products have the convenience of being refrigerated, per the company website. The products in the line go through high-pressure processing, a method that kills bacteria without chemical preservatives and maintains the soup’s quality. (The Daily Meal)