Average price of all wheat to $8.02 in October

by FoodBusinessNews.net Staff
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WASHINGTON — The preliminary national average price received by farmers for all wheat in October was $8.02 per bu, up $1.27 from $6.75 in September and $3.43 above the October 2006 average of $4.59, the U.S. Department of Agriculture said in its October Agricultural Prices report (click here to read report).

The national average price received for winter wheat in October was $7.98, up $1.09 from $6.89 in September and $3.35 above $4.63 in October 2006.

The average price for durum was $13.50 per bu, up $4.55 from $8.95 in September and $8.95 above the October 2006 average of $4.55.

The price for spring wheat other than durum, at $7.62, was $1.32 above the September average of $6.30 and $3.14 above the October 2006 average of $4.48.

The average price received for rice was $10.70 per cwt in October, up 40c from $10.30 in September and $1.05 above $9.65 in October 2006.

The preliminary index of prices received for food grains in October was 246% of the 1990-92 base of 100, up 14% from the revised September index of 215 and up 62% from 152 in October 2006.

The October index for feed grains was 149, down 1% from the revised level of 151 last month but 28% above the October 2006 index of 116. The average price received by farmers for corn in October was $3.29 per bu, equal to the September level, but 74c above $2.55 in October 2006. Farmers received an average of $5.99 per cwt for grain sorghum in October, down 15c from $6.14 in September but up 83c from $5.16 in October 2006. The average price paid for oats in October was $2.35, down 12c from $2.47 in September but up 58c from $1.77 in October 2006.

The U.S.D.A. index of October prices received for oil-bearing crops was 147, up 11% from a revised 132 in September and 55% above 95 in October 2006. The national average price paid to farmers for soybeans was $8.58, up 40c from $8.18 in September and $3.06 above $5.52 in October 2006. Farmers were paid an average of $11.50 per bu for flaxseed, up $1.95 from $9.55 in September and $6.09 above $5.41 in October 2006. The average price paid for sunflowerseed was $18 per cwt, up 30c from $17.70 in September and $5.90 above $12.10 in October 2006.

The preliminary October index for all crops was 149, up 5% from the revised level of 142 in September and 31% above 114 in October 2006.

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