USDA Raises Wheat, Corn And Soy Price Estimates

by Ryan Hanrahan, University of Illinois' FarmDoc project Urbana, IL -- Agri-Pulse's Oliver Ward reported that "season-average price estimates for wheat, corn, soybeans, soybean meal, cheese and cotton were all raised slightly in the Agriculture Department's latest World Agricultural Supply and Demand Estimates (WASDE) report published Thursday." "The latest report shows the season-average farm price for wheat is up 5 cents to $5 per bushel, with corn raised the same amount to $4.15," Ward reported. "'We're expecting a little bit of a seasonal rise in prices in the months ahead,' (USDA World Agricultural Outlook Board Chair Mark) Jankowski said. The soybean price is up 10 cents to $10.30 a bushel, and the season-average meal price is up $10 to $310 per short ton." "The cotton price is up just 1 cent to 61 cents per pound," Ward reported. "USDA notes that China, India and Pakistan are all set to increase their production by around 300,000 bales, but consumption is also set to rise ...