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Illinois country grain prices were
mixed on Friday afternoon, with soybeans higher and corn and
wheat lower.
In the USDA's crop report, the
USDA estimated the US corn crop to total 10.77 billion bushels
with an average yield of 123 bushels per acre.
The US soybean crop was estimated
at 2.69 billion bushels with an average yield of 36.1 bpa.
The Illinois corn crop was
expected to average 116 bpa, with soybeans 37 bpa.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 18 cents lower at 7.84-7.98.
Soybean bids traded 18 to 24 cents
higher at 16.57-16.84.
In Central Illinois country grain dealers quoted shelled corn
bids were 18 cents lower at 7.99-8.14.
Soybean bids were 13 to 16 cents
higher
at 16.71-16.89.
In the Southern part of the state, shelled corn bids were 17 to
19 cents lower at 7.88-8.31.
Soybean bids were 13 to 21 cents
higher at
16.69-16.92.
Wheat bids were 27 to 28 cents
lower at 8.59-8.85.
Illinois grains-Grain futures ended sharply higher.
This week traders evened positions
and prepared for the release of the USDA's crop
reports on Friday morning.
Trading volume was down for most
of the
week until the export market drew interest.
Confirmation of the sale of US
soybeans to China on Thursday and weekly export sales figures
for soybeans that were at the high end of expectations ignited a
rally in the futures market, especially for soybeans.
The much anticipated crop reports came out on Friday morning.
In the report, the USDA estimated
the 2012 US corn crop to average 123 bushels per acre, compared
to 146 bpa in the July report.
This would put the 2012 corn
production estimate at 10.779 billion bushels, compared to 12.97
last month and 12.358 billion last year.
They estimated the US soybean crop
to average 36.1 bpa, compared to 40.5
bpa in July.
This would place the 2012 US
soybean production at 2.692 billion bushels, compared to 2.817
billion last month and 3.056
billion last year.
The carryout figure for the
2012-2013 crop year for corn was estimated at 650 million
bushels, compared to 1.183 billion in the July report.
The 2012-2013 soybean carryout was
forecasted at 115 million bushels, down from 130 million in the
July report.
For Illinois, the 2012 corn crop was estimated to average 116
bpa to produce 1.46 billion bushels for 12.6 million acres.
The USDA reduced the corn acreage
for Illinois from 12.8 million acres to 12.6 million
due to crop abandonment.
In 2011, Illinois producers had a
corn crop
that averaged 157 bpa from 12.4 million acres that produced
1.946 billion bushels of corn.
The 2012 Illinois soybean crop was
expected
to yield 37 bpa from 8.35 million acres to produce 308.9 million
bushels.
This would compare to the 2011
crop that averaged 47 bpa from 8.86 million acres and produced
416.4 million bushels.
The Illinois crop conditions dropped slightly for corn, but
increased slightly for soybeans, according to the USDA's
Illinois Weather and
Crops report, from the Illinois Field Office in Springfield.
The Illinois corn crop placed 4%
in the good range, down 1% from last week, there was 22% fair
and 74% very poor to poor.
The condition of the state's
soybean crop went up by 1%, with 10% of the soybean crop in the
good to excellent range, with 33% fair and 57% in the very poor
to poor range.
The state's pasture land ratings
remained steady by placing 1% in the good category, with 4% fair
and 95% in the very poor
to poor range.
The topsoil moisture ratings
improved slightly, with 5% of the state falling into the
adequate range, with 23% short and 72%
in the very short category.
The Illinois corn crop placed 6%
in the
mature range, with 1% of the crop harvested.
So harvest has officially started
for Illinois producers! There was now 82% of the
state's soybean crop setting pods, compared to 54% last year and
52% for the five year average.
The trading in the cash grain market was moderate this week, as
some producers with old crop grain moved grain on Thursday's
rally and before the release of the USDA's report.
Basis ended mixed this week, with
corn basis mostly lower, while the processor bean basis ended
sharply lower and river terminal basis was sharply higher.
Lower water levels on the Illinois
and Mississippi continue to hold drafts at 9 foot on all barges
headed towards the gulf.
At the Central Illinois Soybean
Processors cash bids ended steady to 10 cents lower
at 16.86-17.06, with basis down 15 to 25 cents ranging from +55X
to +75X.
[to top of second column] |
The Central Illinois Corn
Processors cash bids were 24 to 25 cents higher with bids
ranging from 8.40-8.51, with basis steady to 1
cent higher ranging from +22U to +33U.
At the Illinois River terminals
south of Peoria, cash corn bids ended 10 to 18 cents higher
ranging from 8.12-8.14, with basis down 6 to 14 cents at -6U to
-4U.
Cash soybean bids gained 34 to 35
cents to 16.84-16.93, with basis up 19 to 20 cents ranging from
+53X to +62X.
New crop corn bids for October
delivery were up 27 to 28 cents to range from 8.08-8.15, with
basis steady to 1 cent lower at -16Z to -9Z.
New crop soybean bids gained 20 to
24 cents to range from 16.34-16.43, with basis up 5 to
9 cents at +3X to +12X.
New crop wheat bids for delivery
July 2013
ended 30 cents higher ranging from 8.07-8.17, with basis
unchanged at -50N to -40N.
At the Illinois River terminals
north of Peoria, cash corn bids were up 21 to 26 cents at
8.16-8.23, with basis mixed at -2U to +5U.
Cash soybean bids advanced 39 to
43 cents at 16.98-17.04, with basis up 24 to 28 cents ranging
from +67X to +73X.
New crop corn bids for October
delivery ended 26 to 28 cents stronger at 8.08-8.11,
with basis steady to 2 cents lower ranging from -16Z to -13Z.
New crop soybean bids advanced 22
to 24 cents to 16.34-16.37, with basis 7 to
9 cents higher at +3X to +6X.
New crop wheat bids for July 2013
delivery gained 31 to 36 cents to 8.12-8.13, with basis 1 to 6
cents higher at -45N to -44N.
At the St. Louis terminals cash
corn bids were 10 to 15 cents higher at 8.17-8.18, with soybeans
steady to 4 cents higher ranging from 16.86-16.91.
Cash bids for Soft Red Winter
wheat
gained 51 cents to 8.86-8.87, and cash sorghum bids were 18
cents lower to range from 7.27-7.28.
 \
In northern and western Illinois, cash corn bids to producers at
country elevators were 16 to 30 cents higher at 8.02-8.16,
central
Illinois locations gained 18 to 24 cents at 8.17-8.32 and in
southern Illinois bids increased 20 to 24 cents to range from
8.07-8.48.
Cash soybean bids in northern and
western were up 8 to 9 cents at 16.39-16.59 with central
Illinois bids down 7 to 10 cents at 16.58-16.83 and southern
Illinois bids gained 3 to 16 cents at 16.56-16.71.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations gained 48 to 51
cents at 8.86-9.13.
New crop corn bids to producers at the country elevators in
northern and western Illinois were up 28 to 39 cents to range
from 7.90-8.17, with central Illinois locations up 23 to 32
cents at 8.02-8.31 and in southern Illinois bids increased 29 to
31 cents to 8.10-8.37.
New crop soybean bids for October
delivery in northern and western Illinois were up 15 to 25 cents
at 15.96-16.15, while central
Illinois locations gained 23 to 24 cents at 16.05-16.26 and in
southern Illinois bids advanced 4 to 19 cents to 16.03-16.36.
___
Commercial grain prices paid farmers
by Interior Illinois Country Elevators after 2.00 p.m. Friday
are listed below in dollars per bushel:
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
US 2
SOFT
WHEAT |
|
NORTHERN |
7.84 - 7.98 |
16.57 - 16.69 |
|
|
WESTERN |
7.93 - 7.98 |
16.68 - 16.84 |
|
|
N. CENT. |
7.99 - 8.10 |
16.71 - 16.87 |
|
|
S. CENTRAL |
8.09 - 8.14 |
16.82 - 16.89 |
|
|
WABASH |
8.17 - 8.30 |
16.69 - 16.83 |
8.60 - 8.81 |
|
W.S. WEST |
7.88 - 8.18 |
16.76 - 16.92 |
8.59 - 8.71 |
|
L. EGYPT |
8.20 - 8.31 |
16.69 - 16.79 |
8.69 - 8.85 |
Central Illinois average price
Corn: 8.06 1/2 (+ 6 1/2 U)
Soybeans:
16.80 (+36 X)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
7.82 - 7.93 |
16.09 - 16.25 |
|
|
WESTERN |
7.76 - 7.87 |
16.23 - 16.34 |
|
|
N. CENT. |
7.87 - 7.95 |
16.18 - 16.24 |
|
|
S. CENTRAL |
8.03 - 8.21 |
16.29 - 16.39 |
|
|
WABASH |
8.11 - 8.22 |
16.26 - 16.34 |
8.00 - 8.12 |
|
W.S. WEST |
7.96 - 8.18 |
16.34 - 16.47 |
7.82 - 7.87 |
|
L. EGYPT |
8.16 - 8.29 |
16.34 - 16.49 |
8.12 - 8.22 |
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
8/9/2012 |
8/02/2012 |
| |
Price Basis |
Price Basis |
|
Corn |
8.24 1/2 + 6 1/2 U |
8.03 1/2 + 9 1/2 U |
|
Soybeans |
16.70 1/2 +39 X |
16.80 1/2 +62 1/2 X
|
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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