National average price of all wheat gains 40c in June

by Ron Sterk
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WASHINGTON — The national average price received by farmers for all wheat in June was $5.28 per bu, up 40c from $4.88 in May and $1.30 above the June 2006 average of $3.98, the U.S. Department of Agriculture said in its June Agricultural Prices report (click here to read report). Although preliminary, the June wheat price was the highest since the record high of $5.73 in May 1996.

The preliminary June index for all crops was 146% of the 1990-92 base of 100, up 2% from the revised May index of 143 and up 15% from the June 2006 index of 127.

The national average price received for winter wheat in June was $5.28 per bu, up 51c from $4.77 in May and $1.33 above the $3.95 average a year ago.

The average price for durum was $5.52 per bu, up 13c from May, and $1.71 above the June 2006 average of $3.81.

The price for spring wheat other than durum, at $5.25 per bu, was up 27c from $4.98 in May, and $1.07 above the $4.18 average a year ago.

The index of prices received for food grains in June was 175, up 10% from the revised level of 159 in May and 31% above 134 in June 2006.

The June index for feed grains was 167, up about 6% from 158 in May and 53% above the June 2006 level of 109. The average price received by farmers for corn in June was $3.77 per bu, up 28c from $3.48 in May and up $1.63 from $2.14 in June 2006. Farmers received an average of $6.60 per cwt for grain sorghum in June, up 12c from May and up $2.65 from a year ago. The average price paid for oats in June was $2.55, up 6c from May and up 65c from June 2006.

The U.S.D.A. index of June prices received for oil-bearing crops was 136, up 6% from 128 in May and up 35% from 101 in June 2006. The national average price paid to farmers for soybeans gained 44c, to $7.57 per bu in June, from $7.13 in May, and was 1.95c above the June 2006 average of $5.62. Farmers were paid an average of $7.40 per bu for flaxseed, up 31c from May and up $2 from a year ago. The average price paid for sunflowerseed was $17 per cwt, up 40c from May and up $4.70 from June 2006.

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