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FAPRI ESTIMATES AVERAGE CORN PRICE AT $8.10/BUSHEL, SOYBEANS $16.27
Sep. 4, 2012
Red River Farm Network reports:
University of Missouri's Food and Agricultural Policy Research Institute's (FAPRI) August market report estimate says corn prices will average a record $8.10 per bushel this season, 30 percent more than last year.
Soybean prices will average $16.27 per bushel, also 30 percent more than last year.
Ethanol production is expected to be down ten percent.
The FAPRI report says the increase in feed prices will result in lower production of meat and milk, pushing consumer prices more than four percent higher in 2013.
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