Average price of all wheat at $10.40 in February

by FoodBusinessNews.net Staff
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WASHINGTON — The preliminary national average price received by farmers for all wheat in February was $10.40 per bu, up $2.47 from $7.93 in January and $5.69 above the February 2007 average of $4.71, the U.S. Department of Agriculture said in its February Agriculture Prices report (click here to read report).

The national average price received for winter wheat in February was $9.22 per bu, up $1.44 from $7.78 in January and $4.55 above the February 2007 average of $4.67.

The average price for durum was $16.40, up $3.20 from $13.20 in January and up $11.24 from the February 2007 average of $5.16.

The price for spring wheat other than durum, at $11.90, was $3.91 above the January average of $7.99 and $7.17 above the February 2007 average of $4.73.

The average price received for rice was $12.20 per cwt in February, up 40c from $11.80 in January and $2.10 above the February 2007 average of $10.10.

The preliminary index of prices received for food grains in February was 298% of the 1990-92 base of 100, up 21% from the revised January index of 246 and up 94% from 154 in February 2007.

The February index for feed grains was 184, up 5.7% from a revised 174 in the previous month and 23% above the February 2007 index of 150. The average price received by farmers for corn in February was $4.25 per bu, up 28c from $3.97 in January and up 81c from $3.44 in February 2007. Farmers received an average of $7.82 per cwt for grain sorghum in February, up 42c from $7.40 in January and 87c above $6.95 in February 2007. The average price paid for oats in February was $2.97, up 1c from $2.96 in January and 62c above $2.35 in February 2007.

The U.S.D.A. index of February prices received for oil-bearing crops was 197, up 11% from a revised 178 in January and 59% above 124 in February 2007. The national average price paid to farmers for soybeans was $11 per bu, up $1.04 from $9.96 in January and $4.13 above $6.87 in February 2007. The average price paid for sunflowerseed was $22.80, up $3.80 from $19 in January and $7.90 above $14.90 in February 2007.

The February index for dairy products was 148, down 2.7% from a revised 157 in January but up 30% from 114 a year ago. The average price paid for manufacturing grade milk in February was $18.70 per cwt, down 90c from $19.60 in January but up $4.30 from $14.40 in February 2007.

The poultry and egg index was 163 in February, up 3.8% from 157 in January and 17% above 139 a year ago. The average price paid to farmers for all eggs was $1.31 per dozen in February, up 2c from $1.29 in January and 53c above 78c in February 2007.

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