For the 2022-23 crop marketing year, RaboResearch estimates the average on-farm cash price will be $5.77 for corn and $10.50 for wheat.
Andrick Payen, grain and oilseed analyst with Rabo AgriFinance, said the firm projected U.S. farm prices to be strong this year, but the Ukrainian conflict could push wheat prices to record highs. According to RaboResearch analysis, a 200-million-bu. increase in exports for each commodity would increase the 2022-23 average on-farm price for corn by approximately 13% and wheat by about 50%.
