Average price of all wheat at $8.55 in January

by FoodBusinessNews.net Staff
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WASHINGTON — The preliminary national average price received by farmers for all wheat in January was $8.55 per bu, up 81c from $7.74 in December and $4.02 above the January 2007 average of $4.53, the U.S. Department of Agriculture said in its January Agriculture Prices report (click here to read report).

The national average price received for winter wheat in January $8.33, up 67c from $7.66 in December and $3.80 above the January 2007 average of $4.53.

The average price for durum was $13.40 per bu, up $1.80 from $11.60 in December and up $8.69 from the January 2007 average of $4.71.

The price for spring wheat other than durum, at $8.38, was 92c above the December average of $7.46 and $3.87 above the January 2007 average of $4.51.

The average price received for rice was $11.60 per cwt in January, up 30c from $11.30 in December and $1.20 above the January 2007 average of $10.40.

The preliminary index of prices received for food grains in January was 261% of the 1990-92 base of 100, up 7% from the revised December index of 244 and up 72% from 152 in January 2007.

The January index for feed grains was 186, up 11% from a revised 167 in the previous month and 38% above the January 2007 index of 135. The average price received by farmers for corn in January was $4.28 per bu, up 52c from $3.76 in January and $1.23 above $3.05 in January 2007. Farmers received an average of $8.23 per cwt for grain sorghum in January, up $1.30 from $6.93 in December and $1.92 above $6.31 in January 2007. The average price paid for oats in January was $2.71, up 2c from December and 51c above January 2007.

The U.S.D.A. index of January prices received for oil-bearing crops was 196, up 11% from a revised 177 in December and 72% above 114 in January 2007. The national average price paid to farmers for soybeans was $11 per bu, up $1 from December and $4.63 above $6.37 in January 2007. The average price paid for sunflowerseed was $20.90, up $1.70 from $19.20 in December and $7.10 above $13.80 in January 2007.

The January index for dairy products was 158, down 4% from a revised 165 in December but up 42% from 111 a year ago. The average price paid for manufacturing grade milk in January was $20.10 per cwt, down 70c from $20.80 in December but up $6.20 from $13.90 in January 2007.

The poultry and egg index was at 157 in January, up 2% from 154 in December and 17% above 134 a year ago. The average price paid to farms for all eggs was $1.29 per dozen in January, down 7c from $1.36 in December but 37c above 92c in January 2007.

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