Average price of all wheat climbs to $8.02 per bu
September 03, 2008
by FoodBusinessNews.net Staff
WASHINGTON — The preliminary national average price received by farmers for all wheat in August was $8.02 per bu, up 86c from $7.16 in July and $2.38 above the August 2007 average of $5.64, the U.S. Department of Agriculture said in its August Agriculture Prices report (click here to read report).
The national average price received for winter wheat in August was $7.70 a bu, up 60c from $7.10 in July and up $2.04 from the August 2007 average of $5.66.
The average price for durum was $12.30 a bu, up 50c from $11.80 in July and $5.30 above the August 2007 average of $7.
The price for spring wheat other than durum was $8.62 a bu, down 98c from $9.60 in July but $3.09 above the August 2007 average of $5.53.
The average price received for rough rice was $17.70 per cwt in August, up 50c from $17.20 in July and $7.60 above the August 2007 average of $10.10.
The preliminary index of prices received for food grains was 268% of the 1990-92 base of 100, down 11% from the revised July index of 242 and 45% above the August 2007 index of 185.
The July index for feed grains was 216, down 4% from a revised 225 the previous month but 44% above the August 2007 index of 150. The average price paid to farmers for corn in August was $4.90 per bu, down 34c from $5.24 in July but up $1.64 from $3.26 in August 2007. Farmers received an average of $8.26 per cwt for grain sorghum in August, down 81c from $9.07 in July but up $2.33 from $5.93 in August 2007. The average price paid for oats in July was $3.17, down 29c from $3.46 in July but 93c above the year-ago level.
The U.S.D.A. index for August prices received for oil-bearing crops was 216, down 9.6% from a revised 239 in July but 57% above 138 in August 2007. The national average price paid to farmers for soybeans was $12.10 a bu, down $1.20 from $13.30 in July but up $4.38 from $7.72 in August 2007.
The July index for dairy products was 142, down 4.7% from 149 last month and down 14% from 165 in August 2007. The average price paid for manufacturing grade milk in August was $18.10 per cwt, down 80c from $18.90 in July and down $1.80 from $19.90 in August 2007.
The egg and poultry index was 151 in August, down 1.9% from 154 in July but 4.9% above 144 a year ago. The average price paid to farmers for all eggs was 97c per dozen in August, up 13c from 84c in July and up 10c from 87c in August 2007.