Rickett Grain - Cash Prices (2024)

FAQs

What is the prediction for grain prices? ›

2024 and 2025 Projected Corn and Soybean Prices. In its June World Supply and Demand Estimates (WASDE) report, the U.S. Department of Agriculture (USDA) projected the 2024 corn price at $4.40 per bushel. This 2024 price is the market year average price for the U.S. from September 2024 to August 2025.

The supply and demand for grain simultaneously determine both the price of grain, as well as the demand for grain transportation.

Global coarse grain production for 2024/25 is projected down 8.1 million tons this month, to 1,504.3 million tons. Foreign coarse grain production for 2024/25 (global minus U.S. output) is projected 6.9 million tons lower at 1,107.9 million tons—with reduced corn, oats, rye, and barley (slightly reduced).

USDA lowered the estimated average farm price of corn for the 2024/25 year to $4.20 per bushel, 10 cents per bushel lower than the prior estimate and 45 cents per bushel lower than the average farm price for 2023/24.

Commodities come in many forms, including grains, energy products, and metals. Prices are determined by fundamental factors and supply & demand, which change as economic events unfold and trigger waves of buying and selling.

The Farms.com Markets app has up to date quotes, futures contracts, charts, and news on your mobile device. The app has commodity level data including corn prices, wheat prices, soybean prices, canola prices, live cattle prices, lean hogs prices and more. The market price data is from CBOT, CME and other exchanges.

U.S. wheat production for the 2024/25 marketing year is forecast at 1,982 million bushels, down 26 million bushels from the July forecast. USDA's National Agricultural Statistics Service (NASS) provided updated survey-based production forecasts for all classes of wheat in its August 12 Crop Production report.

U.S. wheat exports for 2024/25 are forecast up 25 million bushels to 800 million bushels based on larger domestic supplies and reduced competition from other key exporters (figure 1).

However, despite this momentary rally, the broader outlook remains pessimistic, with wheat prices projected to decrease by 14% in 2024 due to an oversupply and record harvests.

When the price of corn is rising we would expect? ›

The correct answer is a: the quantity supplied of corn to be rising. Change in the price of a good and the quantity supplied are directly related to each other; it is called the law of supply. Therefore, the quantity of corn supplied rises with the increase in the price of corn.