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Illinois country grain prices were
higher on Friday afternoon.
Soybean futures drew strength from
stronger soybean meal values.
The concern with a smaller Russian
crop pulled wheat futures higher.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids mixed at 7.85-8.09.
Soybean bids were 21 to 22 cents
higher at 16.72-16.84.
In Central Illinois country grain dealers quoted shelled corn
bids were 1 to 2 cents higher at 7.98-8.28.
Soybean bids were 21 cents higher
at 16.86-17.11.
In the Southern part of the state, shelled corn bids were mostly
3 cents higher at 8.14-8.36.
Soybean bids were up 21 to 23
cents at 16.71-17.11. Wheat bids were 8 to 13 cents higher at
8.43-8.70.
Illinois grains-Grain futures
ended mixed, with corn and wheat lower and soybean slightly
higher.
Futures prices were still
adjusting to the numbers from the USDA's reports last Friday.
Some missed export opportunities for US wheat sellers weighed on
wheat values.
Although soybean futures ended
higher for the week, a change in the weather forecast for the
Midwest to cooler and just a little bit wetter helped to keep a
lid on prices.
The monthly report from the
National Oilseed
Processors Association (NOPA) was supportive to soybean values.
The monthly soybean crush for July
2012 was 137.38 million bushels, which was higher than
expectations and higher than the June crush of 134.15 million
bushels.
Many traders and funds took
profits this week on the markets recent advance, also helping to
push prices lower.
The Illinois crop conditions showed a slight improvement,
according to the USDA's Illinois Weather and Crops report, from
the Illinois Field Office in Springfield.
The Illinois corn crop placed 5%
in the good range, up 1% from last week; there was 20% fair and
75% very poor to poor.
The condition of the state's
soybean crop went up by 2%, with 12% of the soybean crop in the
good to excellent range, with 33% fair and 55% in the very poor
to poor range.
The state's pasture land ratings
remained steady by placing 1% in the good category, with 5% fair
and 94% in the very poor to poor range.
The topsoil moisture ratings
remained steady from the prior week, 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 12%
in the mature range, with 1% of the crop harvested.
There was now 88% of the state's
soybean crop setting pods, compared to 70% last year and 70% for
the five year average and now 4% was turning yellow.
The trading in the cash grain market was moderate this week.
It was a confusing week with basis
as it seemed to turn direction several times during the week.
The stronger basis at the soybean
processors was one basis that firmed up all week long.
Although the soybean meal basis is
never published on a week to week basis, we do realize that
soybean meal values are at record levels and don't seem to be
getting any weaker.
In the NOPA monthly crush report
that was released this week, it told us soybean meal exports had
totaled 653,260 short tons for the month of July.
This was above last month's export
figure of 585,504 tons and way above last year's figure of
386,812 tons.
So while our domestic demand may
be questioned due to some herd liquidation, the export market
was red hot!
At the Central Illinois Soybean
Processors cash bids ended 9 to 14 cents higher at 17.00-17.15,
with basis up 15 to 20 cents ranging from +75X to +90X.
The Central Illinois Corn
Processors cash bids were mixed ranging from 8.23-8.53, with
basis 3 to 22 cents higher ranging from +25U to +55U.
At the Illinois River terminals
south of Peoria, cash corn bids ended 28 to 30 cents lower
ranging from 7.82-7.86, with basis down 8 to 10 cents at -16U to
-12U.
Cash soybean bids gained 5 to 11
cents to 16.95-16.98, with basis up 11 to 17 cents ranging from
+70X to +73X.
New crop corn bids for October
delivery were down 6 to 9 cents to range from 7.99-8.09, with
basis 8 to 11 cent stronger at -8Z to +2Z.
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New crop soybean bids were mixed
ranging from 16.35-16.37, with basis steady to up 7 cents at
+10X to +12X.
New crop wheat bids for delivery
July 2013 ended 24 cents lower ranging from 7.83-7.93, with
basis unchanged at -50N to -40N.
At the Illinois River terminals
north of Peoria, cash corn bids were 15 to 20 cents lower at
8.01-8.03, with basis steady to 5 cents higher at +3U to +5U.
Cash soybean bids fell 16 to 19
cents at 16.82-16.85, with basis dropping 10 to 13 cents ranging
from +57X to +60X.
New crop corn bids for October
delivery ended 14 to 16 cents lower at 7.92-7.97, with basis 1
to 3 cents stronger ranging from -15Z to -10Z.
New crop soybean bids fell 5 to 6
cents to 16.28-16.32, with basis steady to 1 cent
higher at +3X to +7X.
New crop wheat bids for July 2013
delivery lost 20 to 21 cents to 7.91-7.93, with basis 3 to 4
cents higher at -42N to -40N.
At the St. Louis terminals cash
corn bids were 26 to 32 cents lower at 7.85-7.92, with soybeans
down 10 to 17 cents ranging from 16.69-16.81.
Cash bids for Soft Red Winter
wheat lost 47 cents to 8.39-8.40, and cash sorghum bids were 15
cents lower to range from 7.12-7.13.
In northern and western Illinois, cash corn bids to producers at
country elevators were 11 to 15 cents lower at 7.87-8.05, with
central Illinois locations down 6 to 10 cents at 7.97-8.26 and
in southern Illinois bids decreased 3 to 17 cents to range from
8.04-8.31.
Cash soybean bids in northern and
western locations were up 4 to 11 cents at 16.50-16.63 with
central Illinois bids gaining 7 cents at 16.65-16.90 and
southern Illinois bids were mixed at 16.50-16.88.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations fell 51 to 56 cents
at 8.35-8.57.
New crop corn bids to producers at the country elevators in
northern and western Illinois were down 18 to 28 cents to range
from 7.72-7.89, with central Illinois locations falling 12 to 17
cents at 7.85-8.19 and
in southern Illinois bids decreased 5 to 23 cents to 7.87-8.32.
New crop soybean bids for October
delivery in northern and western Illinois were down 5 to 6 cents
at 15.91-16.09, while central Illinois locations lost 5 to 6
cents at 16.00-16.20 and in southern Illinois bids fell 3 to 8
cents to 16.00-16.28.
___
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 |
7.85 - 8.09 |
16.73 - 16.76 |
|
|
WESTERN |
7.91 - 8.06 |
16.72 - 16.84 |
|
|
N. CENT. |
7.98 - 8.16 |
16.86 - 16.93 |
|
|
S. CENTRAL |
8.18 - 8.28 |
16.99 - 17.11 |
|
|
WABASH |
8.21 - 8.31 |
16.71 - 16.81 |
8.48 - 8.56 |
|
W.S. WEST |
8.14 - 8.18 |
17.02 - 17.11 |
8.43 - 8.59 |
|
L. EGYPT |
8.25 - 8.36 |
16.81 - 16.91 |
8.54 - 8.70 |
Central Illinois average price
Corn: 8.13 (+14 1/2 U)
Soybeans:
16.98 1/2 (+53 X)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
7.82 - 8.02 |
16.13 - 16.28 |
|
|
WESTERN |
7.72 - 7.83 |
16.20 - 16.29 |
|
|
N. CENT. |
7.89 - 8.05 |
16.20 - 16.30 |
|
|
S. CENTRAL |
8.03 - 8.18 |
16.31 - 16.41 |
|
|
WABASH |
8.07 - 8.27 |
16.20 - 16.25 |
8.00 - 8.11 |
|
W.S. WEST |
7.89 - 7.90 |
16.37 - 16.48 |
7.83 - 7.93 |
|
L. EGYPT |
8.27 - 8.32 |
16.41 - 16.47 |
8.01 - 8.12 |
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
8/16/2012 |
8/9/2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
8.11 1/2 +14 1/2 U |
8.24 1/2 + 6 1/2 U |
|
Soybeans |
16.77 1/2 +52 X
|
16.70 1/2 +39X
|
Annual Comparison
|
|
July 2012 |
July 2011 |
| |
Price--Basis |
Price--Basis |
|
Corn |
7.85 +25 1/2 U |
6.96 +28 U |
|
Soybeans |
16.60 +23 X |
13.65 + 3 1/2 X |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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