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Average Price of Wheat at $9.41/bushel in December

(World-Grain.com, January 4, 2008)
by World Grain Staff

WASHINGTON, D.C., U.S. — The preliminary national average price received by farmers for all wheat in December soared to $9.41 per bushel, up $2.05 from $7.36 in November and $4.89 above the December 2006 average of $4.52, the U.S. Department of Agriculture (USDA) said in its December Agricultural Prices report (click here to read report).

The national average price received for winter wheat in December was $9.22, up $1.90 from $7.32 in November and $4.69 above the December 2006 average of $4.53.

The average price for durum was $14.70 per bushel, up $3.60 from $11.10 in November and $9.96 above the December 2006 average of $4.74.

The price for spring wheat other than durum, at $9.16, was $2.14 above the November average of $7.02 and $4.68 above the December 2006 average of $4.48.

The average price received for rice was $10.90 per hundred weight in December, down 10¢ from $11 in November but 99¢ above $9.91 in December 2006.

The preliminary index of prices received for food grains in December was 290% of the 1990-92 base of 100, up 28% from the revised November index of 227 and up 92% from 151 in December 2006.

The December index for feed grains was 172, up 12% from a revised 154 the previous month and 27% above the December 2006 index of 135. The average price received by farmers for corn in December was $3.88 per bushel, up 45¢ from $3.43 in November and 87¢ above $3.01 in December 2006. Farmers received an average of $6.90 per hundred weight for grain sorghum in December, up 64c from $6.26 in November and 81¢ above $6.09 in December 2006. The average price paid for oats in December was $2.71, down 2¢ from $2.73 in November but 70c above $2.01 in December 2006.

The USDA index of December prices received for oil-bearing crops was 183, up 12% from a revised 164 in November and 63% above 112 in December 2006. The national average price paid to farmers for soybeans was $10.40 per bushel, up 99¢ from $9.41 in November and $4.22 above $6.18 in December 2006. The average price paid for sunflowerseed was $20 per hundred weight, up $1.60 from $18.40 in November and $6.40 above $13.60 in December 2006.

The December index for dairy products was 166, down 1.2% from a revised 168 in November but up 52% from 109 a year ago. The average price paid for manufacturing grade milk in December was $20.50 per hundred weight, unchanged from November but up $6.50 from $14 in December 2006.

The poultry and egg index was at 154 in December, down 0.6% from 155 in November but 24% above 124 a year ago. The average price paid to farmers for all eggs was $1.36 per dozen in December, up 10¢ from November and up 55¢ from December 2006. Prices paid for live broilers and live turkeys declined from November, which pulled the index lower.