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Average Price of Wheat at $7.92 per bushel in November

World-Grain.com, December 5, 2007
by World-Grain.com staff

WASHINGTON, D.C., U.S. — The preliminary national average price received by farmers for all wheat in November was $7.92 per bushel, up 27¢ from $7.65 in October and $3.33 above the November 2006 average of $4.59, the U.S. Department of Agriculture (USDA) said in its November Agricultural Prices report (click here to read report).

The national average price received for winter wheat in November was $7.50, down 4¢ from $7.54 in October but $2.83 above the November 2006 average of $4.67.

The average price for durum was $12.70 per bushel, up $1.10 from $11.60 in October and $8.08 above the November 2006 average of $4.62.

The price for spring wheat other than durum, at $7.67, was 66¢ above the October average of $7.01 and $3.19 above the November 2006 average of $4.48.

The average price received for rice was $11 per cwt in November, up 30¢ from $10.70 in October and 90¢ above $10.10 in November 2006.

The preliminary index of prices received for food grains in November was 241% of the 1900-92 base of 100, up 2% from the revised October index of 236 and up 59% from 152 in November 2006.

The November index for feed grains was 156, up 5% from 149 last month and 21% above the November 2006 index of 129. The average price received by farmers for corn in November was $3.49 per bushel, up 20¢ from $3.29 in October and 61¢ above $2.88 in November 2006. Farmers received an average of $6.22 per cwt for grain sorghum in November, up 4¢ from $6.18 in October and 39¢ above $5.83 in November 2006. The average price paid for oats in November was $2.35, down 9¢ from $2.44 in October but 30¢ above $2.05 in November 2006.

The USDA index of November prices received for oil-bearing crops was 165, up 15% from a revised 144 in October and 53% above 108 in November 2006. The national average price paid to farmers for soybeans was $9.48 per bushel, up $1.12 from $8.36 in October and $3.40 above $6.08 in November 2006. The average price paid for sunflowerseed was $18.90 per cwt, up $1.10 from $17.80 in October and $6.40 above $12.50 in November 2006.

The preliminary November index for all crops was 150, up 1% from the revised level of 148 in October and 23% above 122 in November 2006.