National average price of all wheat down 19c in May

by Ron Sterk
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WASHINGTON — The preliminary national average price received by farmers for all wheat in May was $4.70 per bu, down 19c from $4.89 in April but 61c above the May 2006 average of $4.09, the U.S. Department of Agriculture said in its May Agricultural Prices report (click here to read report). It was the first decline in the average wheat price since January.

The preliminary May index for all crops was 144% of the 1990-92 base of 100, up 2% from the revised April index of 141 and up 20% from the May 2006 index of 120.

The national average price received for winter wheat in May was $4.58 per bu, down 29c from $4.87 in April but 52c above the $4.06 average a year ago.

The average price for durum was $5.28 per bu, down 17c from April, but $1.34 above the May 2006 average of $3.94.

The price for spring wheat other than durum, at $4.91 per bu, was up 5c from $4.86 in April, and 73c above the $4.18 average a year ago.

The index of prices received for food grains in May was 155, down 2% from the revised level of 158 in April but 17% above 133 in May 2006.

The May index for feed grains was 158, up about 5% from the revised level of 151 in April and 48% above the May 2006 level of 107. The average price received by farmers for corn in May was $3.48 per bu, up 9c from $3.39 in April and up $1.31 from $2.17 in May 2006.

The U.S.D.A. index of May prices received for oil-bearing crops was 128, up 4% from the revised level of 123 in April and up 25% from 102 last year. The national average price paid to farmers for soybeans gained 27c, to $7.15 per bu in May, from $6.88 in April, and was 1.47c above the May 2006 average of $5.68.

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