November 8, 2011

US wheat value slides in October

The opening national average price received by US farmers for all of October wheat was at US$6.94/ushel, US$0.61 lower from US$7.55 in September but up US$1.06 from US$5.88 on-year, said USDA in its latest Agricultural Prices report.

The average price paid for winter wheat in October was US$6.31 a bushel, down US$0.70 from US$7.01 in September but up US$0.48 from US$5.83 in October 2010. The average price paid for durum was US$10.20 a bushel, down US$0.50 from US$10.70 in September but up US$5.13 from US$5.07 a year earlier. Spring wheat other than durum averaged US$7.93 per bushel, down US$0.12 from US$8.05 in September but up US$1.79 from US$6.14 in October 2010.

The average price paid for rough rice in October was US$14.90 a cwt, up US$0.60 from US$14.30 in September and up US$3.40 from US$11.50 a year earlier.

The October index of prices received by farmers for food grains was 229 compared with the 1990-92 base of 100, down 7% from 246 the previous month but up 21% from 190 in October 2010.

The October index of feed grains was 257, down 5% from 269 in September but up 39% from 185 in October 2010. The average price paid to farmers for corn was US$5.92 a bushel, down US$0.45 from US$6.37 in September but up US$1.60 from US$4.32 in October 2010. Farmers received an average of US$11.10 a cwt for grain sorghum in October, up US$0.60 from US$10.50 in September and up US$3.30 from US$7.80 in October 2010. The average price paid for oats in October was US$3.45 a bushel, down US$0.22 from US$3.67 in September but up US$0.90 from US$2.55 in October 2010.

The index of October prices received for oilseeds was 208, up 4% from 201 in September and up 24% from 168 in October 2010. Farmers received an average of US$11.90 a bushel for soy in October, down US$0.30 from US$12.20 in September but up US$1.70 from US$10.20 in October 2010.