SILVER SPRING, Md., April 28, 2021 (GLOBE NEWSWIRE) -- Mercaris, the nation’s leading market data service and online trading platform for organic and non-GMO certified agricultural commodities, released its latest Mercaris Commodity Outlook earlier this week. According to the report, organic imports shifted drastically over the first half of MY 2020/21. Since the start of 2020/21 imports of organic whole and cracked corn, as well as organic soybeans have slowed significantly while organic soybean meal imports have dramatically increased.
Mercaris estimates U.S. organic whole and cracked corn imports will decline 25% this marketing year, reaching their lowest levels since 2014/15, while organic soybean imports will decline 33% compared to 2019/20.
“The decline in organic corn imports appears to be in response to a large 2020 harvest and weaker U.S. organic corn prices over the first half of the MY. In contrast, the decline in organic soybean imports appears driven by global logistical challenges and a massive increase in organic soybean meal imports,” says Ryan Koory, Director of Economics for Mercaris. Mercaris estimates U.S. organic soybean meal imports were up 81% over the first half of 2020/21 compared to 2019/20.
Other key findings from the report include:
- U.S. organic corn production reached an estimated 45.6 million bu for the 2020/21 MY, up 11% year over year.
- 2020/21 U.S. organic soybean production is estimated to be 8.2 million bu, up 9% year over year.
- U.S. organic wheat 2020/21 production reached 20.5 million bu, up 3% year over year.
The latest report includes additional data and commentary on yield estimates, use, prices and more for organic commodities. For more information and to purchase a copy, visit this page.
About Mercaris
Mercaris, a Certified B Corporation, has helped its customers capitalize on the growing demand for organic and non-GMO agriculture by providing market intelligence, analysis, and trading services exclusively for the identity-preserved agriculture industry. Mercaris hosts the largest organic and non-GMO grain and oilseed market survey across the U.S. and Canada and recently launched an organic dairy initiative. The company also maintains a trading platform for organic and non-GMO commodities. With a dynamic combination of data, insights, and technology, our customers can access solutions for every challenge. For more information visit: www.mercaris.com
A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/9ac462d6-37d2-4fec-ad01-9a31ea54d10d
