October Corn, Soybean, Wheat, Milk Prices Down

October Corn, Soybean, Wheat, Milk Prices Down

Production yields of major crops, eggs, milk, potatoes down this year.

Prices received by Minnesota farmers for corn for October averaged $6.00 per bushel, a decrease of $0.43 from the September price, according to the USDA-NASS Minnesota Field Office.

Soybeans were down $0.70, to an October price of $11.20 per bushel. The all wheat price was down $0.39, to an October price of $7.74 per bushel.

The all milk price for October, at $20.30 per cwt., was down $0.80 from September.

State corn and soybean production were down, too.

Corn production for Minnesota is forecast at 1.22 billion bushels, down 3% from last month and down 5% from 2010. Based on conditions as of November 1, yield is forecast at 160 bushels per acre, down 5 bushels from the October forecast, and down 17 bushels from 2010.

Soybean production for Minnesota is forecast at 280 million bushels, down 2% from the October 1 forecast and down 15% from 2010. Based on conditions as of November 1, the yield is forecast at 40 bushels per acre, down 1 bushel from October and down 5 bushels from last year.

Sugarbeet production is forecast at 9.01 million tons, down 5% from last month and down 23% from last year. The average yield, forecast at 19.5 tons per acre, is down 1.0 ton per acre from last month and down 7.1 tons per acre from last year's record high yield of 26.6 tons per acre.

Fall potato production is forecast at 15.9 million hundredweight, down from 17.0 million cwt last year. Yield is forecast at 345 cwt per acre, down 60 cwt from 2010.

Minnesota layers produced 229 million eggs during September 2011, versus 237 million in September 2010, a decrease of 3%.

Totaling 732 million pounds, the state's October milk production was down 0.1% from October 2010.

Output per cow was 1,555 pounds in October, down 5 pounds from last October. Milk cows for October averaged 471,000 head, the same as September, but up 1,000 from a year ago.

Source: USDA-NASS Minnesota Field Office

TAGS: USDA
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