Price projections for 2011/12 are lowered for the four feed grains. The season average farm price for corn is projected at $5.50 to $6.50, a 50-cent reduction in both the high and low ends of the range compared with June’s projection, but still a record with a midpoint of $6.00. The projected sorghum upper and lower price ranges are lowered 50 cents per bushel to $5.10 to $6.10. The upper and lower ends of the projected ranges are lowered 30 cents per bushel for barley and 40 cents per bushel for oats, resulting in projections of $5.65 to $6.75 and $3.20 to $3.80, respectively.
For the 2010/11 corn price estimate, the upper end of the range is lowered 15 cents and the lower end lowered 5 cents. Sorghum is reduced 5 cents on the lower end of the range and 15 cents on the upper end. Final estimates for barley and oats are increased slightly.