The October Agricultural Production Index is 98 percent of its 2011 base, down 8.4 percent from the September index and 2 percent below the October 2013 index. The October index, at 78, decreased 10 percent from September and is 17 percent below October 2013. Lower grain and oilseed prices were the major contributors to the lower crop production index.
Wheat
The October index, at 84, increased 1.2 percent from the previous month but is 17 percent below a year ago. The October price for all wheat, at $5.60 per bushel, decreased 14 cents from September and is $1.34 lower than October 2013.
Corn
The October index, at 55, decreased 6.8 percent from September and is 29 percent below a year ago. The corn price, at $3.28 per bushel, decreased 20 cents from September and is $1.35 below October 2013. Sorghum grain, at $5.88 per hundredweight, is 65 cents below September and $1.85 below October last year.
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Soybeans
The October index, at 77, decreased 12 percent from September and is 23 percent lower than October 2013. The soybean price, at $9.64 per bushel, decreased $1.26 from September and is $2.86 below October 2013.
