KANSAS CITY — Prices for organic food-grade wheat were unquoted, except for hard red winter wheat, in slow trade during the December-January period, while organic corn and soybean prices firmed, according to Mercaris, the organic and non-G.M.O. trading platform and market information company.
Prices for food-grade, organic hard red spring wheat, soft red winter wheat and durum were not quoted in the latest period. Compared with a year ago, prices for hard red winter wheat and corn were higher but soybean values were lower. Trading overall mostly was slow at the start of the new year.
Hard red winter wheat averaged $12.52 per bu in the December-January period, up $2.15 from August-September and up 72c from a year ago, with no comparison to the October-November 2018 period, according to Mercaris.
“Organic hard red winter wheat prices remained steady at the start of 2019, maintaining the premium over the third quarter of 2018,” said Ryan Koory, Mercaris senior economist. “Hard red winter wheat prices held a premium over year-ago levels through most all of the 2018-19 marketing year. However, with winter’s end approaching, harvest will soon begin, and production is expected to be bearish for prices. Both buyers and sellers should watch for price volatility over the next several months.”
Food-grade organic corn averaged $12.54 per bu in December-January amid slow trade, up $1.99 from October-November, up $2.28 from August-September and up $2.73 from a year earlier, Mercaris said.
“Organic corn trading remained limited into the January, but held on to the gains made in December,” Mr. Koory said. “Mercaris remains tentative in pointing to these few trades as being bullish signals as it still appears a number of growers are holding corn in their bins waiting for a better selling opportunity. Purchasers should watch for price volatility and buying opportunities toward the end of quarter one as operators look to make cash flow ahead of planting.”
Soybean prices averaged $21.46 per bu in the latest period, up 10c from October-November, down 58c from August-September and down $1.79 from December-January a year earlier.
“Organic soybeans prices remain above third-quarter 2018 levels as contracting volumes remain steady but down from harvest,” Mr. Koory said. “The price risk for food-grade soybeans remains modestly bearish as the end of quarter one typically brings an increase in spot purchasing ahead of planting.”
Mercaris is a comprehensive source of market data and online trading for feed-grade and food-grade organic and non-G.M.O. commodities based in Silver Spring, Md. For more information visit www.mercaris.com. Sosland Publishing Company runs this food-grade organic grain price report in the second issue of Milling & Baking News each month.