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USDA Feed Outlook December 2012 Report. by Library Feed (Dec 15, 2012)
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http://www.ers.usda.gov/publications/fds-feed-outlook/fds-12l.aspx

Feed Outlook: December 2012

by Thomas Capehart, Edward Allen, and Jennifer K. Bond

Outlook No. (FDS-12L) 17 pp, December 2012

Market analysis of domestic and international feed grain markets.

Forecast Corn Prices Lowered.

The forecast U.S. corn price received by farmers for 2012/13 is reduced by $0.15 per bushel on the low end of the range and $0.25 on the high end to $6.80 to $8.00 per bushel, putting the midpoint of the range down $0.20 to $7.40. The early corn harvest has boosted the share of marketings in the first months of the marketing year, when prices tend to be seasonally low relative to later months. Moreover, the average farm prices reported by NASS have been lower than prevailing market prices, reflecting earlier forward pricing when corn prices were lower. Early marketings may include a disproportionate share of corn with quality problems that have price discounts. The season average price received by farmers in 2011/12 was $6.22 per bushel.

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