Organic feed-grade corn averaged nearly $0.40 per bushel higher than the end of 2019/20 reaching $6.98 per bushel in December; while organic soybeans declined slightly to $19.66/bushel, according to the Mercaris Market Update.

The 2019/2020 marketing year proved challenging for organic corn markets, with prices tumbling from September 2019 to September 2020, while the 2020 harvest promised record setting U.S. production. However, decreased imports and reduced harvest estimates have stabilized prices so far in 2020/21. Mercaris data shows that imports of organic corn were down 30% for the first four months of the marketing year compared to the prior marketing year.

Although organic corn prices have leveled off, Mercaris cautions the year ahead holds the potential to catch markets off-guard.

“The transitioning of the U.S. government and ongoing COVID-19 response will likely drive changes in demand and trade,” says Ryan Koory, Director of Economics for Mercaris. “Consumer incomes and the U.S. growing reliance on organic soybean meal imports continue to warrant close observation.”

Koory added that the pace of U.S. organic soybean meal imports more than doubled over the first four months of 2020/21 compared to the prior year.

Source: Mercaris, which is solely responsible for the information provided and is wholly owned by the source. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset. 

Related:

USDA's Jan. 13 Midwest Organic Grain and Feedstuffs Bi-Weekly Report finds cash bids for feed-grade yellow corn range from $6.25 to $7.90 per bushel. Feed-grade soybean cash bids range from $18.50 to $20 per bushel and feed-grade wheat bids range from $6.40 to $7.55.

Organic corn prices remain stable in the Midwest, according to The Jacobsen. Prices are around $7 per bushel. For the 12 months ended November 2020, organic corn imports rose 8% year-over-year.