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2017 Logan County Farm Outlook Magazine
LINCOLN DAILY NEWS
March 23, 2017
Page 15
Union. “ Recent reports also show consumption of
wheat in feed has increased by over 3 million tons.
U.S. sorghum production and use has also increased
with more exports of Sorghum.
Another contributing factor is more livestock
farming both in the United States and
internationally, which means there is more need and
overall demand for feed.
Population growth is an additional reason demand is
increasing. The USDA says food uses for corn will
likely increase as the population grows.
All these factors pinpoint increases in price for these
feed ingredients.
How prices have been affected
Various sources show season average prices for
corn for 2016/2017 increased by .60 per bushel.
A February 2017 USDA report on World
Agricultural Supply and Demand Estimates said the
2016/17 U.S. corn outlook is
for increased food,
seed and industrial use and
reduced stocks.
The USDA says 2016/2017
prices for soybeans
increased to between $8.70
and $10.20 per bushel,
though soybean meal prices
remained same.
Overall, soybean prices
are higher than this time
last year. The March
2017 USDAWASDE report shows soybean prices
between $9.30 and $9.90 per bushel. Last March,
average prices were $8.95.
The USDA says the season average price of wheat
for March 2017 is around $3.85 a bushel, which is
unchanged from recent months. Meanwhile, the
Chicago Board of Trade estimates the March price
for wheat at $3.75 a bushel, citing a gain of 11 cents
from previous months.
The USDA prices for sorghum in March show
averages of $2.50 - $2.90 a bushel. WASDE
estimates place the 2016/2017 average between
$2.80 and $3.30 a bushel, a slight drop from last
year’s average of $3.31.
The latest reports indicate price increases for most
feed ingredients with exports accounting for many
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