Average price of all wheat drops $1.20 in May

by FoodBusinessNews.net Staff
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WASHINGTON — The preliminary national average price received by farmers for all wheat in May was $8.80 per bu, down $1.20 from $10 in April but $3.92 above the May 2007 average of $4.88, the U.S. Department of Agriculture said in its May Agriculture Prices report (click here to read report).

The national average price received for winter wheat in May was $7.76 per bu, down $1.85 from $9.61 in April but $2.99 above the May 2007 average of $4.77.

The average price for durum was $12.10 a bu, down $1.70 from $13.80 in April but $6.71 above the May 2007 average of $5.39.

The price for spring wheat other durum was $10.20 a bu, down 30c from $10.50 in April but $5.22 above the May 2007 average of $4.98.

The average price received for rough rice was $15 per cwt in May, up 40c from $14.60 in April and $5 above the May 2007 average of $10.

The preliminary index of prices received for food grains in May was 278% of the 1990-92 base of 100, down 7% from the revised April index of 299 but up 74% from 160 in May 2007.

The May index for feed grains was 222, up 0.9% from a revised 220 the previous month and 41% above the May 2007 index of 158. The average price paid by farmers for corn in May was $5.12 per bu, down 3c from $5.15 in April but up $1.63 from $3.49 in May 2007. Farmers received an average of $9.18 per cwt for grain sorghum in May, down 12c from $9.30 in April but $2.69 above $6.49 in May 2007. The average price paid for oats in May was $3.46 a bu, down 2c from $3.48 in April but 97c above $2.49 in May 2007.

The U.S.D.A. index for May prices received for oil-bearing crops was 221, up 2.8% from a revised 215 in April and 73% above 128 in May 2007. The national average price paid to farmers for soybeans was $12.30 per bu, up 30c from $12 in April and $5.18 above $7.12 in May 2007.

The May index for dairy products was 139, up 0.7% from 138 last month and in May 2007. The average price paid for manufacturing grade milk in May was $18.50 per cwt, up 80c from $17.70 in April and up 90c from $17.60 in May 2007.

The poultry and egg index was 147 in May, down 0.7% from a revised 148 in April but 4.3% above 141 a year ago. The average price paid to farmers for all eggs was 79c per dozen in May, down 24c from $1.03 in April but up 1c from 78c in May 2007.

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