According to the USDA's latest Feed Outlook report, price projections for 2012/13 are raised for the four feed grains. The season average farm price for corn is projected at $5.40 to $6.40 per bushel, a $1.20 increase in the low end of the range and a $1.40 increase in the high end.
The lower and upper ends of the projected price range for sorghum are raised $1.15 and $1.35, respectively, to $5.00 to $6.00 per bushel. The upper and lower ends of the projected ranges are raised 20 cents per bushel for barley, resulting in price projection of $5.30 to $6.30 per bushel. Oats prices were adjusted upward $0.70 on the lower end and $0.90 on the higher end of the projection range, resulting in a projection of $3.10 to $3.90 per bushel.
Forward pricing is likely to keep the average farm price for corn below prevailing cash market prices during the early For the 2011/2012 corn price projection, the lower end of the range is raised $0.15 and the upper end is raised $0.05 to $6.10 to $6.30 per bushel.
Sorghum is increased $0.15 on the lower end of the range and $0.05 on the upper end to a projected $6.00 to $6.20 per bushel. The final estimate for the all-barley price is up $0.05 per bushel to $5.35 per bushel. The oats final estimate is up $0.04 per bushel to $3.49 per bushel.
For a look at USDA's feed grain supply outlook, click here.