June 8, 2012

US all-wheat price falls on-year in May

In May, the initial average price received by US farmers for all wheat was US$6.60/bushel, US$0.51 less than US$7.11 in April and less US$1.56 from US$8.16 in May last year, the USDA stated in its latest report of Agricultural Prices.

The average price paid for winter wheat in May was US$6.18 per bushel, down US$0.29 from US$6.47 in April and down US$1.62 from US$7.80 in May 2011. The average price paid for durum was US$8.75 a bushel, down US$0.43from US$9.18 in April but up US$0.89 from US$7.86 a year earlier. Spring wheat other than durum averaged US$7.61 a bushel, down US$0.34 from US$7.95 in April and down US$1.24 from US$8.85 in May 2011.

The May index of prices received by farmers for food grains was 216 compared with the 1990-92 base of 100, down 4% from 226 the previous month and down 15% from 253 in May 2011.

The May index of feed grains was 269, down 1% from 272 in April but up 1% from 266 in May 2011. The average price paid to farmers for corn was US$6.22 a bushel, down US$0.12 from US$6.34 in April and down US$0.10 from US$6.32 in May 2011. Farmers received an average of US$10.10 a cwt from grain sorghum in April, down US$0.50 from US$10.60 in April and down US$1.50 from US$11.60 in May 2011.

The average price paid for oats in May was US$3.76 a bushel, down US$0.05 from US$3.81 in April but up US$0.21 from US$3.55 in May 2011.

The index of May prices received for oilseeds was 245, unchanged from April but up 3% from 237 in May 2011. Farmers received an average of US$13.70 a bushel for soy in May, unchanged from April but up US$0.50 from US$13.20 in May 2011.