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Illinois grain prices in country elevators

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[December 08, 2012]  SPRINGFIELD -- This is Friday's report of the grain prices and trends, prepared by the USDA and the Illinois Department of Agriculture.

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Illinois country grain prices were lower on Friday. Many traders took profits for the week, especially in soybeans, helping to push prices lower.

The USDA announced the sale of 115,000 tonnes of US soybeans to China today, for this current marketing year.

In Northern and Western Illinois country grain dealers quoted shelled corn bids 15 to 19 cents lower at 7.13-7.35.

Soybean bids were 16 to 20 cents lower at 14.35-14.55.

In Central Illinois country grain dealers quoted shelled corn bids were 15 to 18 cents lower at 7.27-7.44.

Soybean bids were 15 to 19 cents lower at 14.55-14.70.


In the Southern part of the state, shelled corn bids were 15 to 18 cents lower at 7.10-7.57.

Soybean bids were 17 to 20 cents lower at 14.65-14.90.

Wheat bids were mixed at 8.26-8.51.

Illinois grains ended mixed for the week, with soybeans higher and corn and wheat futures
lower.

Strong demand for soybeans pushed prices higher this week. Export interest remained good for soybeans.

Both export inspection numbers of 51 million bushels and weekly export sales figures of 1.143 million tonnes were above expectations.

Traders also are attentive to the weather in South America.

Wheat futures fell as demand slipped, but dry soil conditions in the western growing regions were still lending support.

The trading in the cash grain market was slow to moderate.

Many in the grain industry and farmers too are paying attention to developments with shipping on the Mississippi River.

The main problem with the river is low water levels between St. Louis and Cairo, Illinois.

Water from the Ohio River is helping keep levels up, but due to this season's drought, water from the Missouri River has been low.

The Army Corp of Engineers has been allowed to put bids in action to blast the rocky parts of the Mississippi River to help make water deeper where rock formations have limited barge traffic.

In the meantime, shippers have been putting grain and other supplies on the water before barge traffic might be limited.

Many grain merchandisers have switched their spot basis month for corn to March (H) from December (Z), so basis comparison this week will be somewhat limited.

The Central Illinois Soybean Processors cash bids gained 45 to 48 cents to 15.00-15.13, with basis up 2 to 5 cents at +9F to +22F.

The Central Illinois Corn Processors cash bids were steady to 5 cents lower ranging from 7.51-7.56, with basis ranging from option H to +5H.

At the Illinois River terminals south of Peoria, cash corn bids ended 8 to 10 cents lower ranging from 7.32-7.36, with basis at -19H to -15H.

Cash soybean bids gained 41 to 45 cents at 14.86-15.00, with basis mixed ranging from -5F to 9F.

New crop wheat bids for delivery in July 2013 ended 13 to 17 cents lower ranging from 8.37-8.43, with basis steady to 4 cent lower at -36N to -30N.

At the Illinois River terminals north of Peoria, cash corn bids lost 3 to 5 cents to 7.34-7.40, with basis at -17H to -11H.

Cash soybean bids were up 51 to 53 cents to 14.88-14.96, with basis 8 to 10 cents higher ranging from -3F to +5F.

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New crop wheat bids for July 2013 delivery fell 14 to 16 cents to range from 8.43-8.46, with basis 1 to 3 cents lower at -30N to -27N.

At the St. Louis terminals cash corn bids were mixed at 7.12-7.26, with soybeans up 28 to 33 cents ranging from 15.01-15.06.

Cash bids for Soft Red Winter wheat fell 7 cents to 8.51-8.52 and cash sorghum bids were 1 cent higher to range from 7.13-7.14.

In northern and western Illinois, cash corn bids to producers at country elevators were mixed at 7.28-7.50, with central Illinois locations down 1 to 5 cents at 7.45-7.59 and in southern Illinois bids were 2 to 3 cents higher to range from 7.28-7.72.

Cash soybean bids in northern and western locations were 47 cents higher at 14.53-14.77 with central Illinois bids up 42 to 46 cents at 14.71-14.86 and southern Illinois bids climbed 46 to 47 cents to range from 14.88-15.09.

Cash wheat bids for Soft Red Winter wheat in southern Illinois locations dropped 16 to 19 cents to 8.33-8.47.

New crop wheat bids for June-July delivery in southern Illinois lost 6 to 14 cents to range from 8.31-8.43.

___

Commercial grain prices paid farmers by Interior Illinois Country Elevators after 2.00 p.m. xxx are listed below in dollars per bushel:

AREA 

US 2

CORN

US 1

SOYBEANS

 US 2

SOFT

WHEAT 

NORTHERN

7.26 - 7.35 14.35 - 14.50  

WESTERN 

7.13 - 7.25 14.36 - 14.55  

N. CENT.

7.27 - 7.37 14.55 - 14.69  

S. CENTRAL

7.35 - 7.44 14.62 - 14.70  

WABASH 

7.36 - 7.42 14.72 - 14.84 8.26 - 8.51

W.S. WEST

7.10 - 7.26 14.65 - 14.85  8.35 - 8.38

L. EGYPT

7.44 - 7.57 14.77 - 14.90 8.36 - 8.41

Central Illinois average price

Corn: 7.35 1/2 (- 1 1/2 H)
Soybeans:
14.62 1/2 (- 9 1/2 F)

CONTRACT BIDS FOR JANUARY 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

5.91 - 6.06 12.74 - 12.94  

WESTERN 

5.90 - 6.03 12.74 - 12.89  

N. CENT.

5.96 - 6.08 12.87 - 12.99  

S. CENTRAL

5.98 - 6.14 12.87 - 13.02  

WABASH 

6.13 - 6.28 12.72 - 12.99 8.33 - 8.44

W.S. WEST

5.85 - 5.98 12.84 - 12.94

8.32 - 8.34

L. EGYPT

6.13 - 6.22

12.74 - 12.99

8.36 - 8.42

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

12/6/2012

11/29/2012

  Price--Basis Price--Basis

Corn

7.52 + 1/2 H

7.55 + 3 1/2 Z 

Soybeans

14.77 1/2 -13 1/2 F 

14.34 1/2 -13 1/2 F

Annual Comparison

 

November 2012

November 2011

  Price--Basis Price--Basis

Corn

7.39 - 1Z

6.26 - 3Z

Soybeans

14.39 -11X

11.51 -24X

[Text copied from USDA-IL Dept of Ag Market News, Springfield]

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