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Disclaimer:
This web page is designed to aid farmers with their marketing and risk
management decisions. The risk of loss in trading futures, options,
forward contracts, and hedge-to-arrive can be substantial and no warranty
is given or implied by the author or any other party. Each farmer must
consider whether such marketing strategies are appropriate for his or her
situation. This web page does not represent the views of Kansas State
University. |
| NASS Average
Price[1] |
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| The official 12 month weighted national average price for wheat,
corn, soybeans and milo was released by National Agricultural Statistics
Service (NASS) for crop year 2002/2003.
The NASS average price is used to settle counter cyclical payments
for 2002/2003 crops (crops that were harvested in 2002).
The final NASS prices, CC payment, and KSU estimates are listed in
the table below. |
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| Estimates for the wheat CC payment for marketing year 2003/2004
(the wheat crop just harvested) will be posted on AgManger.info.
The Farm Service Agency (FSA) has not announced if there will be an
advanced CC paid on the 03/04 crop marketing year. |
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| [1]Prepared by G.A. (Art) Barnaby, Jr., Professor, Department of
Agricultural Economics, K-State Research and Extension, Kansas State
University, Manhattan, KS 66506, October 3, 2003, Phone 785-532-1515,
e-mail – abarnaby@agecon.ksu.edu |
| Table 1. USDA
Weighted National Average Price and |
| Official
Counter Cyclical Payments for 02/03 Market Year |
| Compared
to KSU Estimates |
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KSU Estimates |
|
USDA Official |
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Corn (02/03) |
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Corn (02/03) |
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Estimated |
Monthly |
|
Official |
Official |
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| Month |
Weight |
Price |
|
Weight |
Price |
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| Sep |
8.5 |
2.47 |
|
7.1 |
2.47 |
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| Oct |
13.8 |
2.34 |
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14.0 |
2.34 |
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| Nov |
10.4 |
2.27 |
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13.9 |
2.28 |
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| Dec |
7.1 |
2.32 |
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8.2 |
2.32 |
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| Jan |
14.4 |
2.33 |
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12.6 |
2.33 |
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| Feb |
6.5 |
2.34 |
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6.1 |
2.34 |
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| Mar |
7.4 |
2.33 |
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6.7 |
2.33 |
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| Apr |
5.3 |
2.34 |
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6.5 |
2.34 |
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| May |
4.9 |
2.38 |
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6.5 |
2.38 |
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| Jun |
6.1 |
2.34 |
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5.3 |
2.34 |
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| Jul |
7.3 |
2.17 |
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6.0 |
2.17 |
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| Aug |
8.3 |
2.13 |
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7.1 |
2.15 |
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| Average Price |
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2.31 |
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100.0 |
2.32 |
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| Strike Price |
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2.32 |
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2.32 |
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| Exp.
Counter Cyclical Pymt |
0.01 |
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0.00 |
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KSU
Estimates |
|
USDA
Official |
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Milo (02/03) |
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Milo (02/03) |
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Estimated |
Monthly |
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Official |
Official |
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| Month |
Weight |
Price |
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Weight |
Price |
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| Sep |
8.0 |
4.30 |
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8.8 |
4.30 |
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| Oct |
15.7 |
4.35 |
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7.0 |
4.33 |
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| Nov |
12.3 |
4.32 |
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19.6 |
4.40 |
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| Dec |
13.7 |
4.13 |
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16.3 |
4.33 |
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| Jan |
12.8 |
4.12 |
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7.4 |
4.12 |
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| Feb |
5.3 |
4.14 |
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4.0 |
4.14 |
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| Mar |
5.7 |
3.94 |
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3.1 |
3.94 |
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| Apr |
2.8 |
3.96 |
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3.3 |
3.96 |
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| May |
3.1 |
3.95 |
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2.4 |
3.95 |
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| Jun |
5.5 |
3.61 |
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5.0 |
3.61 |
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| Jul |
8.2 |
3.63 |
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6.9 |
3.63 |
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| Aug |
6.9 |
3.75 |
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16.2 |
3.93 |
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| Average Price |
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4.08 |
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100.0 |
4.14 |
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| Strike Price |
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3.91 |
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3.91 |
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| Exp.
Counter Cyclical Pymt |
0.00 |
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0.00 |
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KSU
Estimates |
|
USDA
Official |
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Soybeans (02/03) |
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Soybeans (02/03) |
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Estimated |
Monthly |
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Official |
Official |
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| Month |
Weight |
Price |
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Weight |
Price |
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| Sep |
8.3 |
5.39 |
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5.8 |
5.39 |
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| Oct |
23.0 |
5.19 |
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21.1 |
5.19 |
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| Nov |
8.0 |
5.46 |
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10.3 |
5.46 |
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| Dec |
7.1 |
5.46 |
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9.3 |
5.46 |
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| Jan |
13.1 |
5.52 |
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14.4 |
5.52 |
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| Feb |
6.6 |
5.55 |
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8.3 |
5.55 |
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| Mar |
7.0 |
5.60 |
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6.6 |
5.60 |
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| Apr |
5.3 |
5.82 |
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7.5 |
5.82 |
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| May |
5.0 |
6.07 |
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4.7 |
6.07 |
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| Jun |
5.2 |
6.09 |
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3.8 |
6.09 |
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| Jul |
5.7 |
5.83 |
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4.6 |
5.83 |
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| Aug |
5.6 |
5.56 |
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3.6 |
5.68 |
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| Average Price |
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5.53 |
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5.53 |
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| Strike Price |
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5.36 |
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5.36 |
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| Exp.
Counter Cyclical Pymt |
0.00 |
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0.00 |
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KSU
Estimates |
|
USDA
Official |
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Wheat (02/03) |
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Wheat (02/03) |
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Estimated |
Monthly |
|
Official |
Official |
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| Month |
Weight |
Price |
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Weight |
Price |
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| Jun |
12.7 |
2.93 |
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16.3 |
2.92 |
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| Jul |
18.6 |
3.21 |
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22.0 |
3.21 |
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| Aug |
11.4 |
3.63 |
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13.3 |
3.63 |
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| Sep |
7.9 |
4.21 |
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10.5 |
4.21 |
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| Oct |
6.1 |
4.37 |
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5.7 |
4.38 |
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| Nov |
5.0 |
4.25 |
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4.2 |
4.25 |
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| Dec |
7.5 |
4.06 |
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5.9 |
4.06 |
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| Jan |
9.1 |
3.89 |
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5.4 |
3.89 |
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| Feb |
5.2 |
3.68 |
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3.7 |
3.70 |
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| Mar |
6.1 |
3.54 |
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4.0 |
3.55 |
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| Apr |
4.9 |
3.37 |
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4.0 |
3.37 |
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| May |
4.7 |
3.33 |
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5.0 |
3.33 |
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| Average Price |
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3.59 |
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3.56 |
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| Strike Price |
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3.34 |
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3.34 |
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| Exp.
Counter Cyclical Pymt |
0.00 |
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0.00 |
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