USDA’s Agricultural Marketing Service (AMS) issued a new Market News report focusing on non-genetically engineered/genetically modified (non-GE/GMO) grain commodities. Initially, AMS will release the national weekly report with information about the non-GE/GMO corn and soybean markets on Wednesdays.
Many farmers compete successfully in today’s agricultural marketplace by supplying specialty farm products. A growing number of consumers and commercial buyers are interested in purchasing and paying a premium for products with specific qualities, including commodities being marketed as non-GE/GMO.
In response to the growth of these markets and the need for unbiased market information, AMS researched non-GE/GMO commodities. The new report covers non-GE/GMO corn and soybeans because both of these commodities have significant trade volume and command consistent price premiums.
The new report includes two price types – future delivery contract prices paid to the producer by the elevator, and spot market cash prices paid to producers by the elevator. In the future, AMS plans to add other commodities, distinguish prices by geographical region, and, if available, include other pricing mechanisms in the report.
In addition, AMS Market News is developing new reports for pasture-raised pork, free-range chicken, tribal-grown commodities, and farm raised catfish, as well as expanding organic reporting to include additional commodities. By increasing transparency, Market News reports covering these emerging markets will benefit all stakeholders.