USDA launches first price report on non-GMO corn and soybeans
The non-GMO feed grade yellow corn average price as of September 23 has been reported at around $3.69-3.93/bushel, and around $4/bushel in early September. This is compared to December corn futures trading at $3.79-3.83/bushel reported this month. Non-GMO yellow soybeans were quoted at a cash price range of around $9.64-9.89/bushel, and yellow soybeans futures for November contract delivery are quoted at around $8.84-8.64/bushel.
The report could attract more market for non-GMO grain and in turn, encourage farmers to transition to organic. The information is based from an undisclosed number of elevators. AMS doesn’t release the number of entities whose trade data have been used in compiling the report citing confidentiality concerns. At least three trades from three separate entities are required in order for AMS to list an average price for a commodity.