Larger-than-expected beginning stocks and more harvested acres have placed organic corn and wheat on a bearish trend over the 2019/20 market year, according to the new Mercaris Organic Commodity Outlook.
Meanwhile, strong demand and lower imports have provided support to organic soybeans markets.
Mercaris, the nation’s leading market data service and online trading platform for organic, non-GMO and certified agricultural commodities, this week released its spring outlook.
Despite poor planting and harvest conditions in 2019, additional certified corn and wheat farms helped push harvests above previous estimates.
In addition, corn imports rose sharply at the end of the 2018/19 market year, 12 percent above projections.
For organic soybeans, a collapse in imports from China and a reduction from Canada and the Black Sea Region point to supply constraints and higher prices.
Meanwhile, organic corn production is estimated at 39.7 million bushels for 2019/20, up nine percent from the previous outlook but still down four percent year-over-year.