Average wheat price rebounds modestly in November
BakingBusiness.com, Dec. 1, 2011
by Staff

WASHINGTON — The preliminary national average price received by farmers for all wheat in November was $7.33 per bu, a 4c gain from October, which followed a 26c decline in October.

In data issued in the U.S. Department of Agriculture Agricultural Prices report, the November price was down 83c a bu from the May high of $8.16 but remained $1.23 above the year ago price of $6.10 in November 2010.

The average price paid for winter wheat in November was $6.41 a bu, down 13c from $6.54 in October but up 39c from $6.02 in November 2010. The average price paid for durum was $10.30 a bu, up 72c from $9.58 in October and up $4.75 from $5.55 in November 2010. Spring wheat other than durum averaged $8.72 per bu, up 52c from $8.20 in October and up $2.37 from $6.35 in November 2010.

The average price paid for rough rice in November was $14.40 a cwt, down 20c from $14.60 in October but up $1.90 from $12.50 a year earlier.

The November index of prices received by farmers for food grains was 237 compared with the 1990-92 base of 100, unchanged from the previous month but up 19% from 199 in November 2010.

The November index of feed grains was 259, up 4% from 249 in October and up 34% from 194 in November 2010. The average price paid to farmers for corn was $6 a bu, up 29c from $5.71 in October and up $1.45 from $4.55 in November 2010. Farmers received an average of $11 a cwt for grain sorghum in November, up 30c from $10.70 in October and up $2.56 from $8.44 in November 2010.

The index of November prices received for oilseeds was 213, up 4% from 205 in October and up 15% from 186 in November 2010. Farmers received an average of $11.50 a bu for soybeans in November, down 20c from $11.70 in October but up 40c from $11.10 in November 2010.

The November index for dairy products was 152, unchanged from the previous month and up 11% from 137 in November 2010. The average price for all milk in November was $18.40 a cwt, down 40c from $18.80 in October but up $1.80 from $16.60 in November 2010.

The November poultry and egg index was 155, up 4% from 149 in October but down 5% from 163 the previous year. The average price paid to farmers for all eggs in November was 90c a dozen, down 11c from $1.01 in October and down 10c from $1 in November 2010.