Goodwine Coop Cash Bids (2024)

FAQs

What are cash bids? ›

Cash bids are based on 10-minute delayed futures prices, unless otherwise noted. Prices current as of 01:40 PM CDT - Provided by Barchart. www.cmegroup.com/Copyright © 2024. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay.

Wisconsin's corn price averaged $6.25 per bushel, 25 cents above the last marketing year. The value of soybean production was $1.61 billion, up 12 percent from 2021. The average price increased $1.20 from the previous year to $13.90 per bushel.

As we came out of COVID/Russia-Ukraine-induced highs, prices have fallen rapidly. The season average price for corn in 2022/23 was $6.54/bu and is projected to decrease to $4.80 in 2023/24 and $4.40 in 2024/25.

Historically, Corn reached an all time high of 843.75 in August of 2012. Corn - data, forecasts, historical chart - was last updated on July 18 of 2024.

A bushel of dry corn is about 56 pounds. A bushel of dry corn is also about 25 kilograms.

Bloomberg's Gerson Freitas Jr and Tarso Veloso reported Monday that “grain prices have slumped to the lowest level since the pandemic as Tropical Storm Beryl is expected to bring rains to the Midwest, potentially aiding yields at a critical time for crop development.”

Therefore, a standard weight of grain that fills a bushel volume is needed to convert a weight (pounds of corn) into a volume (bushels of corn). For corn, that standard is 56 pounds per bushel.

The price of corn today is around $4.15/bushel. There are 56lbs in a bushel, so corn costs $0.074/lb.

Producing a 220-bushel corn crop at $6.16 per bushel would result in a producer return of approximately $134 per acre.

Current futures prices seem to indicate that corn and soybean prices might average $4.45 and $11.40 per bushel in 2021/22, respectively. In this optimistic scenario, corn production would generate profits north of $95 per acre in a continuous corn rotation, and above $200 per acre following soybeans.

What is the break even price for corn? ›

2024 breakeven estimates

Using the 2024 Purdue crop budgets, the estimated breakeven corn price to cover all costs is $5.25 per bushel for average-productivity soil and $4.90 for high-productivity soil.

The projected price for corn is $4.66 in 2024 and the harvest price was $4.88 in 2023. The projected price for soybeans is $11.55 in 2024 and the harvest price was $12.84 in 2023. Iowa and Wyoming winter wheat prices differ. The Projected Price for winter wheat was $7.11 in 2014 and has increased to $7.38 in 2024.

A bushel of dry corn is about 56 pounds.