April 4, 2012
US wheat price down US$0.31 on-year
The initial US average price received by farmers for March wheat was US$7.24/bushel, up US$0.14 from US$7.10 in February but down US$0.31 from US$7.44 in March 2011, the USDA stated in its latest Agricultural Prices report.
The average price paid for winter wheat in March was US$6.65 per bushel, down US$0.02 from US$6.67 in February and down US$0.37 from US$7.02 in March 2011. The average price paid for durum was US$9.21, up US$0.26 from US$8.95 in February and up US$1.12 from US$8.09 a year earlier. Spring wheat other than durum averaged US$8.14 a bushel, up US$0.13 from US$8.01 in February and up US$0.07 from US$8.07 in March 2011.
The March index of prices received by farmers for food grains was 230 compared with the 1990-92 base of 100, up 2% from 226 the previous month but down 1% from 233 in March 2011.
The March index of feed grains was 276, up 3% from 268 in February and up 20% from 230 in March 2011. The average price paid to farmers for corn was US$6.48 a bushel, up US$0.20 from US$6.28 in February and up US$0.95 from US$5.53 in March 2011. Farmers received an average of US$11.30 a cwt for grain sorghum in March, up US$0.50 from February and up US$0.70 from US$10.60 a cwt a year ago. The average price paid for oats in March was US$3.58 a bushel, up US$0.12 from US$3.46 in February and up US$0.30 from US$3.28 in March 2011.
The index of March prices received for oilseeds was 235, up 7% from 220 in February and up 3% from 228 in March 2011. Farmers received an average of US$13.10 a bushel for soy in March, up 90¢ from US$12.20 in February and up US$0.40 from US$12.70 in March 2011.
The March index for dairy products was 133, down 2% from 136 in February and down 15% from 156 in March 2011. The average price for all milk in March was US$17.40 a cwt, down 30¢ from US$17.70 in February and down US$3 from US$20.40 in March 2011.
The March poultry and egg index was 174, up 8% from 161 in February and up 16% from 150 in March 2011. The average price paid to farmer for all eggs in March was US$0.89, up US$0.05 from February and up US$0.13 from US$0.76 in March 2011.
