The season-average corn farm price for 2011/12 is projected at a record $6.00 to $7.00 per bushel, up $0.50 on both ends of the range from last month. Tight supplies caused by reduced acreage and lower carryin prompted the increase. The projected corn price for 2010/11 is boosted $0.10 on each end of the range to $5.20-$5.50 per bushel.
Projected 2011/12 sorghum prices are expected to be record high. This month’s forecast is increased by $0.60 on both ends of the range to $5.60 to $6.60 per bushel. Projected barley prices are raised $0.20 on both ends of the range to $5.95- $7.05 per bushel. The increase in the oats projected price is larger, up $0.30 on both ends of the range to $3.60-$4.20 per bushel.