Prices for food-grade organic corn and soybeans in Q4 2019 ended higher than prices for the same quarter a year before, according to organic and non-GMO trading platform and data company Mercaris.
Organic feed corn prices have basically moved sideways, but food grade corn prices for the quarter were up $1.13 per bushel compared to the same quarter in the previous year. The corn harvest this year has been challenging, marked at 91 percent complete as of December 8 - more than three weeks behind the five-year average. Surprisingly, this delay and resulting lower yields and quality have mostly affected only feed-grade organic corn prices.
Organic food-grade soybean prices for Q4 averaged $21.56 per bushel, an increase of eight cents over the same quarter last year. Unlike corn, the soybean harvest this year has been mostly on-pace, however, the outlook for the crop remains poor, with organic soybean production for 2019/20 expected to be 14 percent lower year-on-year. And although the market is currently steady, caution is called for in the months ahead.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at firstname.lastname@example.org.