|
Estimated Weighted National Average Price and Projected Counter Cyclical
Payments(11/30/04) |
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|
Wheat (04/05) |
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Corn (04/05) |
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|
Estimated |
Monthly |
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|
Estimated |
Monthly |
|
Month |
Weight |
Price |
|
Month |
Weight |
Price |
|
Jun |
13.0 |
3.57 |
|
Sep |
8.5 |
2.20 |
|
Jul |
20.3 |
3.37 |
|
Oct |
14.1 |
2.15 |
|
Aug |
11.8 |
3.27 |
|
Nov1 |
11.1 |
2.00 |
|
Sep |
8.1 |
3.36 |
|
Dec |
7.4 |
2.11 |
|
Oct |
6.1 |
3.44 |
|
Jan |
14.8 |
2.14 |
|
Nov1 |
5.4 |
3.51 |
|
Feb |
6.3 |
2.19 |
|
Dec |
7.2 |
3.47 |
|
Mar |
7.1 |
2.22 |
|
Jan |
8.6 |
3.42 |
|
Apr |
5.7 |
2.22 |
|
Feb |
5.1 |
3.40 |
|
May |
5.0 |
2.23 |
|
Mar |
5.3 |
3.42 |
|
Jun |
5.6 |
2.17 |
|
Apr |
4.3 |
3.38 |
|
Jul |
6.9 |
2.10 |
|
May |
4.1 |
3.39 |
|
Aug |
7.4 |
2.09 |
|
KSU Est Avg Price |
|
3.39 |
|
|
|
2.14 |
|
Strike Price |
|
3.40 |
|
|
|
2.35 |
|
Exp. Counter Cyclical Pymt |
0.01 |
|
|
|
0.21 |
|
USDA Est Avg Price for 04/052 |
3.20-3.50 |
|
|
|
1.70-2.10 |
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|
Milo (04/05) |
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|
Soybeans (04/05) |
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|
|
Estimated |
Monthly |
|
|
Estimated |
Monthly |
|
Month |
Weight |
Price |
|
Month |
Weight |
Price |
|
Sep |
7.4 |
3.59 |
|
Sep |
7.6 |
5.84 |
|
Oct |
11.9 |
3.15 |
|
Oct |
23.9 |
5.56 |
|
Nov1 |
14.6 |
3.07 |
|
Nov1 |
9.0 |
5.31 |
|
Dec |
15.3 |
3.13 |
|
Dec |
7.8 |
5.39 |
|
Jan |
11.9 |
3.16 |
|
Jan |
15.3 |
5.45 |
|
Feb |
4.6 |
3.27 |
|
Feb |
6.8 |
5.59 |
|
Mar |
4.3 |
3.24 |
|
Mar |
7.1 |
5.78 |
|
Apr |
2.9 |
3.22 |
|
Apr |
5.3 |
5.87 |
|
May |
2.6 |
3.25 |
|
May |
4.4 |
6.03 |
|
Jun |
6.4 |
3.37 |
|
Jun |
3.8 |
6.02 |
|
Jul1 |
8.0 |
3.28 |
|
Jul1 |
4.8 |
5.99 |
|
Aug |
10.1 |
3.26 |
|
Aug |
4.2 |
5.76 |
|
KSU Est Avg Price |
|
3.22 |
|
|
|
5.63 |
|
Strike Price |
|
3.70 |
|
|
|
5.36 |
|
Exp. Counter Cyclical Pymt |
0.48 |
|
|
|
0.00 |
|
USDA Est Avg Price for 04/052 |
2.58-3.25 |
|
|
|
4.55-5.35 |
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|
Cotton (03/04) |
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|
|
|
|
|
|
Estimated |
Monthly |
|
|
|
|
|
Month |
Weight |
Price |
|
|
|
|
|
Aug |
3.7 |
0.537 |
|
|
|
|
|
Sep |
4.6 |
0.493 |
|
|
|
|
|
Oct |
9.9 |
0.495 |
|
|
|
|
|
Nov1 |
14.9 |
0.471 |
|
|
|
|
|
Dec |
17.7 |
0.481 |
|
|
|
|
|
Jan |
15.5 |
0.462 |
|
|
|
|
|
Feb |
9.9 |
0.468 |
|
|
|
|
|
Mar |
6.9 |
0.460 |
|
|
|
|
|
Apr |
4.6 |
0.447 |
|
|
|
|
|
May |
4.4 |
0.447 |
|
|
|
|
|
Jun |
4.3 |
0.461 |
|
|
|
|
|
Jul |
3.8 |
0.465 |
|
|
|
|
|
KSU Est Avg Price3 |
|
0.4736 |
|
|
|
|
|
Strike Price |
|
0.6573 |
|
|
|
|
|
Exp. Counter Cyclical Pymt |
0.1373 |
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|
|
|
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1 |
The previous monthly prices are official NASS prices. The remaining
monthly prices for the marketing year are KSU estimates. |
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2 |
The USDA estimated weighted average prices received by farmers are
approved by the World Agricultural Outlook Board and released monthly.
These estimates were released on November 12, 2004. |
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3 |
By law USDA does not publish an estimated weighted average cotton price
received by farmers. |
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2004/05 USDA Program Rates and Counter Cyclical Payment Trigger Price |
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|
Counter Cyclical Trigger Price |
Maximum Counter Cyclical Payment |
|
Crop |
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|
Direct Payment Rate |
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Target Price |
Loan Rate |
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|
(A) |
(B) |
(C) |
(D = A - B) |
|
|
Corn (bu) |
|
2.63 |
0.28 |
1.95 |
2.35 |
0.40 |
|
Sorghum (bu) |
|
2.57 |
0.35 |
1.95 |
2.22 |
0.27 |
|
Soybeans (bu) |
|
5.80 |
0.44 |
5.00 |
5.36 |
0.36 |
|
Wheat (bu) |
|
3.92 |
0.52 |
2.75 |
3.40 |
0.65 |
|
Barley (bu) |
|
2.24 |
0.24 |
1.85 |
2.00 |
0.15 |
|
Oats (bu) |
|
1.44 |
0.024 |
1.33 |
1.416 |
0.09 |
|
Minor oilseeds (cwt)1 |
10.10 |
0.80 |
9.30 |
9.30 |
0.00 |
|
Upland cotton (lb)2 |
|
0.724 |
0.0667 |
0.52 |
0.6573 |
0.1373 |
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1 |
The trigger price for minor oilseeds is below the loan rate. Thus, there
can be no counter-cyclical payment for minor oilseeds. |
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2 |
USDA is prohibited by law from publishing a price estimate for cotton,
but is required to publish an estimated counter-cyclical payment. That
means USDA must estimate the national average price to pay advanced
counter cyclical payments. |
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