October U.S. wheat prices surge above $6

by World Grain Staff
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WASHINGTON, D.C., U.S. — The preliminary national average price received by farmers for all wheat in October was $6.08 per bushel, up 25¢ from $5.83 in September and up $1.61 from $4.47 in October 2009, the U.S. Department of Agriculture (USDA) said in its latest Agricultural Prices report.

The average price paid for winter wheat in October was $5.98 a bushel, up 18¢ from $5.80 in September and up $1.71 from $4.27 in October 2009. The average price paid for durum was $5.54 a bushel, up 84¢ from $4.70 in September and up 68¢ from $4.86 in October 2009. Spring wheat other than durum averaged $6.35 a bushel, up 35¢ from $6 in September and up $1.35 from $5 in October 2009.

The average price paid for rough rice was $11.80 a cwt, up $1 from $10.80 in September but down $2.50 from $14.30 a year earlier.

The October index of prices received for food grains was 197 compared with the 1990-92 base of 100, up 3.7% from a revised 190 in September and up 22% from 162 in October 2009.

The October index for feed grains was 203, up 17% from a revised 173 in September and up 31% from 155 in October 2009. The average price paid to farmers for corn was $4.78 a bushel in October, up 70¢ from $4.08 in September and up $1.17 from $3.61 in October 2009. Farmers received an average of $8.47 a cwt for grain sorghum in October, up $1.21 from $7.26 in September and up $2.93 from $5.54 in October 2009. The average price paid for oats in October was $2.35 a bushel, up 6¢ from $2.29 in September and up 32¢ from $2.03 in October 2009.

The index of October prices received for oilseeds was 183, up 12% from a revised 164 in September and 14% higher than 161 in October 2009. The national average price paid to farmers for soybeans was $10.70 a bushel, up 72¢ from $9.98 in September and up $1.27 from $9.43 in October 2009.

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