February U.S. wheat price down 33¢ from year ago

by World Grain Staff
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WASHINGTON, D.C., U.S. — The preliminary U.S. average price received by farmers for all wheat in February was $7.09 per bushel, up 5¢ from $7.04 in January but down 33¢ from $7.42 in February 2011, the U.S. Department of Agriculture (USDA) said in its latest Agricultural Prices report.

The average price paid for winter wheat in February was $6.49 per bushel, down 8¢ from $6.57 in January and down 54¢ from $7.03 in February 2011. The average price paid for durum was $8.88 a bushel, up 8¢ from $8.80 in January and up 43¢ from $8.45 a year earlier. Spring wheat other than durum averaged $7.97 a bushel, down 15¢ from $8.12 in January but up 29¢ from $7.68 in February 2011.

The average price paid for rough rice in February was $13.90 a cwt, down 30¢ from $14.20 in January but up 50¢ from $13.40 a year earlier.

The February index of prices received by farmers for food grains was 226 compared with the 1990-92 base of 100, down 1% from 229 the previous month and down 3% from 232 in February 2011.

The February index of feed grains was 263, up 1% from 261 in January and up 13% from 232 in February 2011. The average price paid to farmers for corn was $6.16 a bushel, up 9¢ from $6.07 in January and up 51¢ from $5.65 in February 2011. Farmers received an average of $10.90 a cwt for grain sorghum in February, up 10¢ from $10.80 in January and equal to levels in February 2011. The average price paid for oats in February was $3.66 a bushel, up 10¢ from $3.56 in January and up 39¢ from $3.27 in February 2011.

The index of February prices received for oilseeds was 222, up 4% from 214 in January but down 3% from 228 in February 2011. Farmers received an average of $12.30 a bushel for soybeans in February, up 40¢ from $11.90 in January but down 40¢ from $12.70 in February 2011.

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