The USDA noted that June’s higher prices for oranges, cantaloupes, tomatoes, and lettuce offset lower prices for corn, milk, broilers, and eggs. Prices paid by farmers in the month remained flat in June, with an index reading of 112 for the second consecutive month, up 1 index point compared with April and 6 index points compared with June 2013.
Both corn and wheat prices remain significantly lower than they were a year ago, with all wheat prices down 47 cents a bushel at $6.61 and corn down 34 cents at $4.37 a bushel.
Dairy and meat have both moderated over the past two months. Dairy prices fell 3.3% in June after falling 2.4% in May and are now 18% higher than they were a year ago. Prices for pork and beef are down 0.8% month-over-month but meat prices also remain 18% higher compared with June 2013.
Hog prices are still $7.70 per hundredweight higher than they were a year ago and beef prices are $23.00 per hundredweight higher.
Here is how some agriculture-related ETFs are trading today:
The Market Vectors Agribusiness ETF (NYSEMKT: MOO) is down 0.13% at $54.95 in a 52-week range of $48.75 to $55.53.
The PowerShares DB Agriculture fund (NYSEMKT: DBA) trades down 0.71% at $27.85 in a 52-week range of $24.04 to $29.41.
The Teucrium Corn Fund (NYSEMKT: CORN) is up 0.91% today at $30.956 in a 52-week range of $29.50 to $40.40.
The Teucrium Wheat Fund (NYSEMKT: WEAT) trades up about 1.3% on Wednesday at $14.10 in a 52-week range is $13.31 to $18.25.