National average price of all wheat climbs 34c per bu

by FoodBusinessNews.net Staff
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WASHINGTON — The preliminary national average price received by farmers for all wheat in July was $5.37 per bu, up 34c from $5.03 in June and $1.49 above the July 2006 average of $3.88, the U.S. Department of Agriculture said in its July Agricultural Prices report (click here to read report). The July price was the highest since the all-time high of $5.73 per bu in May 1996.

The preliminary July index for all crops was 143% of the 1990-92 base of 100, up 1.4% from the revised June index of 141 and up 16% from the July 2006 index of 123.

The national average price received for winter wheat in July was $5.30 per bu, up 30c from $5 in June and up $1.48 from the $3.82 average a year ago.

The average price for durum was $6.25 per bu, up 75c from $5.50 in June and $2.42 above the July 2006 average of $3.83.

The price for spring wheat other than durum, at $5.62 per bu, was up 44c from $5.18 in June, and $1.21 above the $4.41 average a year ago.

The index of prices received for food grains in July was 179, up 7% from the revised level of 167 in June and 38% above the July 2006 average of 130.

The July index for feed grains was 151, down 5% from the revised level of 159 in June and 37% above the June 2006 level of 110. The average price received by farmers for corn in July was $3.23 per bu, down 28c from $3.51 in June but up $1.09 from $2.14 in July 2006.

The U.S.D.A. index of July prices received for oil-bearing crops was 142, up 5.2% from the revised level of 135 in June and up 42% from 100 last year. The national average price paid to farmers for soybeans increased 41c, to $7.92 per bu in July, from $7.51 in June and was $2.31 above the July 2006 average of $5.61.

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