Minor Changes Made to Feed Grain Price Projections
21 February 2012
US - The midpoint of the projected range for the 2011/12 US corn price received by farmers remains at $6.20 per bushel this month, but the range is narrowed by 10 cents at each end, to $5.80-$6.60 per bushel.
With the exception of prices in September, corn prices at the farm gate have been reported below $6.00 per bushel so far this marketing year.
If the preliminary January price of $5.90 per bushel is confirmed, the farm price for the first 5 months of this marketing year will average $5.90 per bushel, weighted by 5-year average marketing percentages by month.
The farm price has been below prevailing cash market bids due to farmers forward contracting when prices were lower. Farm gate prices are expected to average around $6.50 per bushel over the coming months to reach the $6.20 midpoint of the projected season average price range.
The projected price range for sorghum was narrowed by 10 cents on each end to $5.70 to $6.50 per bushel, and the barley price range was narrowed by 5 cents on each end to $5.15 to$ 5.65.
Further Reading
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February 2012
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