Latest WASDE Report Show High Feed Costs to Continue

Posted by Brian Gould Thu, 14 May 2009 13:15:00 GMT

The USDA said Tuesday in its first official projections of this year’s crops that it expects a season-average price of corn to be harvested in the fall of $4.10 a bushel, give or take 40 cents a bushel. While that price is far less than the $7.50 that corn briefly neared last June, it is just a dime less than the record season-average price for the 2007 crop.

Likewise, the USDA expects the season-average price of the 2009 soybean crop to fluctuate around $9.45 a bushel, give or take a dollar, a midpoint that is just 4% less than the price of the crop harvested last fall.

For the complete WASDE report click here.