USDA’s World Ag Supply & Demand Estimates report issued season-average price forecasts for the 2013-14 marketing year. The prices are those paid to the crop producer at the farm level. All are well below the average for 2012-13.
Compared to the previous month, the projected 2013/14 season-average farm price for corn was unchanged at the midpoint, with the range narrowed to $4.10-$4.70/bushel.
The 2013/14 U.S. season-average farm price forecast for soybeans was narrowed 25¢ on both ends of the range, to $11.75-$13.25/bushel. The soybean meal price was projected at $415-$455/ ton, up $15 on both ends of the range compared to a month earlier.
|Table 1. Feed price* outlook|
|Soy meal ($/ton)||394||468||415-455|
|*U.S. average price paid at the farm level|
|Source: USDA World Ag Supply & Demand|