Trading Volumes of U.S. Organic Grain Gain Momentum
Volumes of traded U.S. organic food-grade organic wheat and corn continued to gain steam in the month of May, while volumes of organic soybeans relaxed a bit.
Organic food-grade hard red wheat was priced at$11.03 between April and May, reflecting a drop of $2.54 compared to the previous two-month period, but was still $1.55 above prices during the same point a year before.
Industry watchers are concerned over the winter wheat crop for 2018-2019, thinking thatthe severe drought conditions that caused a 6 percent drop in the 2017 harvest will have a similar effect upon the next harvest.
Trade volumes of hard red spring wheat reached a 10-month high, according to Mercaris, with prices touching $17.81 per bushel - $2.50 higher than a year before, and trade volumes of organic durum wheat also increased in May with delivery prices reaching $17.25 per bushel.
Despite sourcing difficulties and tight supplies, trade on organic food-grade corn also increased with delivery prices averaging $10.62 per bushel.
Bucking the trend were soybeans, which saw a slowdown in trade during the month of May, however, prices averaged $21.13 per bushel - nearly $1 more per bushel than was fetched during February and March.
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