Average price of wheat falls to $5.73 in February

by FoodBusinessNews.net Staff
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WASHINGTON — The preliminary national average price received by famers for all wheat in February was $5.73 per bu, down 48c from $6.21 in January and down $4.37 from the February 2008 average of $10.10, the U.S. Department of Agriculture said in its latest Agricultural Prices report.

The national average price received for winter wheat in February was $5.20 a bu, down 53c from $5.73 in January and down $3.97 from $9.17 in February 2008.

The average price paid for durum was $7.79 a bu, down 36c from $8.15 in January and down $6.31 from $14.10 in February 2008.

The price of spring wheat other than durum averaged $6.51 a bu in February, down 52c from $7.03 in January and down $4.69 from $14.10 in February 2008.

The average price received for rough rice was $16.80 a cwt, down 20c from $17 in January but up $4.20 from $12.60 in February 2008.

The preliminary index of prices received for food grains was 207 compared with the 1990-92 base of 100, down 4.6% from the revised January index of 217 and 29% below the February 2008 index of 293.

The February index for feed grains was 179, down 4.8% from a revised 188 in January and down 7.3% from 193 in February 2008. The average price paid to farmers for corn in February was $4.13 per bu, down 23c from $4.36 in January and down 41c from $4.54 in February 2008. Farmers received an average of $5.09 per cwt for grain sorghum in February, down 75c from $5.84 in January and down $3.26 from $8.35 in February 2008. The average price paid for oats in January was $2.27 a bu, down 47c from $2.74 in January and down 92c from $3.19 in February 2008.

The U.S.D.A. index of February prices received for oil-bearing crops was 173, down 3.4% from a revised 179 in January and down 18% from 210 in February 2008. The national average price paid to farmers for soybeans was $9.58 per bu, down 39c from $9.97 in January and down $2.12 from $11.70 in February 2008.

The February index for dairy products was 88, down 14% from a revised 102 in January and down 40% from 146 in February 2008. The average price paid for manufacturing grade milk in February was $11.80 per cwt, down 60c from $12.40 in January and down $6.50 from $18.30 in February 2008.

The egg and poultry index was 141 in February, down 5.4% from 149 in January and down 9% from 155 in February 2008. The average price paid to farmers for all eggs was 81c per dozen, down 22c from $1.03 in January and down 50c from $1.31 in February 2008.

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