2013-14 corn, soybean price forecasts narrowed

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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.

Full report.

Table 1. Feed price* outlook
Product   Estimated
Corn ($/bu.) 6.22 6.89 4.10-4.70
Soybeans ($/bu.) 12.50  14.40 11.75-13.25
Soy meal ($/ton) 394 468  415-455
*U.S. average price paid at the farm level      
Source: USDA World Ag Supply & Demand      

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