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Illinois country grain prices were
higher on Friday afternoon.
With the extended weather forecast
still hot and dry and the crop prospects
declining, grain futures prices continue to climb.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 13 to 18 cents higher at 8.19-8.29.
Soybean bids traded 22 to 28 cents
higher at 17.67-17.90.
In Central Illinois country grain dealers quoted shelled corn
bids were mostly 10 to 14 cents higher at 8.25-8.54.
Soybean bids were up 26 to 50
cents at 17.82-17.98.
Wheat bids were 8 cents stronger
at 9.08-9.25.
In the Southern part of the state, shelled corn bids were 11 to
17 cents higher at 8.35-8.75.
Soybean bids were up 24 to 34
cents at 17.69-18.02.
Wheat bids were mostly 8 to 9 cents higher at 9.15-9.48.
Illinois grains-Grain futures ended sharply higher. Several
words could describe the futures markets this week.
Higher and volatile are just two
that quickly come to mind.
The continuation of the hot and
dry
weather pattern for most of the cornbelt and the outlook for it
to continue drove grain futures up this week.
Soybean futures were also
supported by very good weekly export sales figures for soybeans
and soybean meal.
This week new high prices were
attained for August soybean futures, along with September corn
and wheat futures.
Traders expect to see crop
conditions for the US corn and soybeans crops to fall again in
next Monday's report.
In last Monday's report the US
corn crop placed 31% in the good to excellent category, down 9%
from last week and the US soybean crop placing 34% in the good
to excellent range, down 6% from the prior week.
The Illinois crop conditions fell again due to hot temperatures.
According to the USDA's Illinois Weather and Crops report, from
the Illinois Field Office in Springfield, the Illinois corn crop
placed
11% in the good to excellent range, down 8% from last week,
there was 33% fair and 56% very poor to poor.
The condition of the state's
soybean crop also fell by 3%, with 17% of the soybean crop in
the good to excellent range, with 42% fair and 41% in the very
poor to
poor range.
Again this week, especially with
corn the very poor to poor numbers continue to climb. The states
pasture land placed 2% in the good category, with 15% fair and
83% in the very poor to poor range.
The topsoil moisture ratings
continue to drop, placing 0% in the surplus category, with only
2% adequate, 25% short and 73% very
short.
The subsoil ratings also continue
to fall; there were 4% in the adequate range, with 26% short and
70% in the very short
category.
This week the entire southeast
region placed 100% in the very short range.
The Illinois corn crop placed 20%
of the corn crop in the dent stage, compared to less than 3% for
last year and 6% for the five year average.
The soybean crop had 70% in the
blooming
stage, compared to 37% last year and 42% for the five year
average.
The trading in the cash grain market was slow to moderate this
week, but that didn't mean it wasn't exciting.
Basis movement made it very
exciting as both the corn and soybean basis levels were moving
in opposite directions.
For the most part, the corn basis
was moving
down and the soybean basis was moving up.
At the Central Illinois Soybean
Processors cash bids ended 1.69 to 1.87 higher at 17.94-17.99,
with basis up 13 to 25 cents ranging from +60Q to +65Q.
The Central Illinois Corn
Processors cash bids were 37 to 38 cents higher with bids
ranging from 8.08-8.19, and basis down 39 to 40 cents ranging
from option U to +11U.
At the Illinois River terminals
south of Peoria, cash corn bids ended 64 to 69 cents stronger
ranging from 8.34-8.38, with basis falling 8 to 13 cents at +26U
to +30U.
Cash soybean bids increased 1.63
to 1.65 to 17.87-17.91, with basis 1 to 3 cents higher ranging
from +53Q to +57Q.
Wheat bids ended 76 to 78 cents
higher ranging from 8.85-8.93, with basis 10 to 12 cents lower
at -50U to -42U.
[to top of second column] |
New crop corn bids for October
delivery were up 51 to 55 cents to range from 7.69-7.78, with
basis up 5 to 9 cents at -9Z to option Z.
New crop soybean bids gained
1.25-1.26 to range from 16.50-16.54, with basis up 2 to 3 cents
at -2X to +2X.
At the Illinois River terminals
north of Peoria, cash corn bids were up 60 to 66 cents at
8.32-8.34, with basis down 11 to 17 cents at +24U to +26U.
Cash soybean bids gained 1.55 to
1.62 to 17.77-17.86, with basis steady to down 7 cents ranging
from +43Q to +52Q.
Cash wheat bids gained 85 to 88
cents to 8.87-9.05, with basis steady to 3 cents
lower at -48U to -30U.
New crop corn bids for October
delivery ended 48 to 54 cents stronger at 7.65-7.67, with basis
2 to 8 cents higher ranging from -13Z to -11Z.
New crop soybean bids advanced
1.24 to
1.25 to 16.45-16.48, with basis 1 to 2 cents higher at -7X to
-4X.
At the St. Louis terminals cash
corn bids were 60 to 63 cents higher at 8.46-8.48, with soybeans
up 1.47 to 1.51 ranging from 17.87-17.90.
Cash bids for Soft Red Winter
wheat gained 83 cents to 9.14-9.15, and cash sorghum bids were
36 cents higher to range from 6.96-6.97.
In northern and western Illinois, cash corn bids to producers at
country elevators were 57 to 59 cents higher at 8.01-8.16,
central
Illinois locations gained 62 to 72 cents at 8.18-8.40 and in
southern Illinois bids increased 62 to 76 cents to range from
8.24-
8.57.
Cash soybean bids in northern and
western were up 1.53-1.57 at 17.45-17.62 with central Illinois
bids gaining 1.67-1.70 to 17.49-17.74 and southern Illinois bids
advanced 1.48-1.51 at 17.35-17.79.
Cash wheat bids for Soft Red
Winter wheat in central Illinois gained 87 to 89 cents to
9.00-9.17, with southern Illinois locations up 85
to 88 cents at 9.06-9.50.
New crop corn bids to producers at the country elevators in
northern and western Illinois were up 46 to 51 cents to range
from 7.38-7.53, with central Illinois locations gaining 50 to 55
cents at 7.53-7.82 and in southern Illinois bids increased 53 to
55 cents to 7.64-7.89.
New crop soybean bids for October
delivery in northern and western Illinois were up 1.08-1.23 at
15.98-16.26, with central Illinois
locations gaining 1.21-1.33 at 16.26-16.35 and in southern
Illinois bids advanced 1.22-1.23 at 16.30-16.52.
___
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 |
8.19 - 8.24 |
17.67 - 17.78 |
|
|
WESTERN |
8.21 - 8.29 |
17.82 - 17.90 |
|
|
N. CENT. |
8.33 - 8.54 |
17.82 - 17.95 |
|
|
S. CENTRAL |
8.25 - 8.41 |
17.88 - 17.98 |
9.08 -
9.25 |
|
WABASH |
8.52 - 8.68 |
17.69 - 17.86 |
9.30 - 9.43
|
|
W.S. WEST |
8.35 - 8.42 |
17.90 - 18.02 |
9.15 - 9.23 |
|
L. EGYPT |
8.60 - 8.75 |
17.72 - 17.89 |
9.43 - 9.48
|
Central Illinois average price
Corn:
8.39 1/2 (+15 U)
Soybeans:
17.90 (+32 1/2 Q)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
7.51 - 7.70 |
16.33 - 16.54 |
|
|
WESTERN |
7.59 -
7.64 |
16.49 - 16.60 |
|
|
N. CENT. |
7.70 - 7.86 |
16.53 - 16.61 |
|
|
S. CENTRAL |
7.85 - 8.03 |
16.62 - 16.70 |
|
|
WABASH |
7.96 - 8.05
|
16.66 - 16.81 |
|
|
W.S. WEST |
7.82 - 8.00 |
16.66 - 16.83 |
|
|
L. EGYPT |
7.70 - 7.94 |
16.81 - 16.86 |
|
Cent. Ill. Average Price at Country
Elevators
|
Week of |
7/19/2012 |
7/12/2012
|
| |
Price Basis |
Price Basis |
|
Corn |
8.29 +21 U |
7.62 +31 U
|
|
Soybeans |
17.61 1/2 +28 Q |
15.93 +20 1/2
Q |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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