|
 (Copy)
Illinois country grain prices were
mixed on Friday afternoon, with wheat sharply lower. Selling
pressure from an anticipated active harvesting weekend, poor
export demand, and the higher values of the US dollar pushed
wheat futures lower. In the cash market, the cash corn basis
continued to improve along the Illinois River, improvements of 5
to 8 cents noted.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids mixed at 5.71-5.82.
Soybean bids traded mostly 2 to 4
cents higher at 13.17-13.31.
In Central Illinois country grain dealers quoted shelled corn
bids were 2 to 3 cents lower at 5.71-5.88.
Soybean bids were 5 cents higher
at 13.27-13.44.
In the Southern part of the state, shelled corn bids were mixed
at 5.78-6.06.
Soybean bids were 4 to 6 cents
higher at 13.31-13.48.
Wheat bids were 23 to 31 cents
lower at 5.91-6.13.
Illinois grains- Grain futures ended moderately to sharply lower
this week.
Traders seemed more concerned with
the outside markets and other financial markets, rather than
grain market fundamentals.
Liquidation of positions by funds
was the major source of pressure for grain futures this week.
The Illinois corn crop continues to mature ahead of the normal
pace and the planting of the state's soybean crop was in the
final stages.
According to the USDA's Illinois
Weather and Crops report, from the Illinois Field Office
in Springfield, there was 97% of the corn crop emerged, compared
to 73% last
year and the five year average of 72%.
The condition of the corn crop
declined last week, mainly due to lack of moisture. There was
now 66% in good to excellent condition, a drop of 13%, with 28%
fair and 6% in very poor to poor condition.
Soybean planting was 94% complete,
compared to 56% last year and the five year average of 55%.
There was 78% of the crop emerged, compared to 25% last year and
28% for the five year average.
In the first condition report on
soybeans this season, the Illinois crop placed 60% of the
crop in the good to excellent range, with 34% Fair and 6% in the
very poor to
poor range.
The wheat crop was 34% ripe,
compared to 1% last year and less than 1% for the five year
average.
Farmers in the southern part of
the state
seemed to get serious about harvesting wheat after the Memorial
Day holiday.
Many grain terminals and country
elevators reported wheat coming in. The elevators also have
commented about the high quality of the wheat this year. Test
weights have been very good and disease problems have been very
low.
The trading in the cash grain market was slow this week, though
a little cash wheat was starting to flow into the system.
Slow movement was attributed to
another week of falling future prices. Basis levels for cash
grain ended steady to higher.
At the Central Illinois Soybean
Processors cash bids ended 29 to 31 cents lower at 13.55-13.62;
with basis 5 to 7 cents higher ranging from +15N to +22N.
The Central Illinois Corn
Processors cash bids were 23 cents lower with bids ranging from
5.95-6.08, and basis was steady at +40N to
+53N.
At the Illinois River terminals
south of Peoria, cash corn bids ended 17 to 19 cents lower
ranging from 5.78-5.85, with basis up 4 to 6 cents at +23N to
+30N.
Cash soybean bids decreased 32 to
36 cents at 13.41-13.50, with basis steady to 4 cents higher
ranging from +1N to +10N. New crop corn bids for October
delivery were up 7 to 11 cents to range from 5.04-5.07, with
basis
steady to up 4 cents at -18Z to -15Z.
New crop soybean bids fell 3 to 6
cents
to 12.55-12.61, with basis steady to 3 cents higher at -15X to
-9X.
New crop wheat bids for July 2012
delivery were 13 to 19 cents lower ranging from 6.24-
6.34, with basis steady to 6 cents higher ranging from -20N to
-10N.
[to top of second column]
|
At the Illinois River terminals
north of Peoria, cash corn bids fell 19 to 22 cents to
5.73-5.75, with basis up 1 to 4 cents at +18N to +20N.
Cash soybean bids were down 35 to
36 cents to 13.40-13.47, with basis steady to 1 cent higher
ranging from option N to +7N.
New crop corn bids for October
delivery ended 7 to 10 cents higher at 4.97-5.02, with basis
steady to 3 cent stronger ranging
from -25Z to -20Z.
New crop soybean bids lost 6 to 11
cents to 12.46-12.53, with basis steady to 5 cents lower at -24X
to -17X.
New crop wheat bids were down 18
to 20 cents to 6.25-6.28, with basis mixed at -19N to -16N.
At the St. Louis terminals cash
corn bids were 31 to 32 cents lower at 5.92-5.94, with
soybeans down 33 to 38 cents from 13.58-13.68.
Cash bids for Soft Red Winter
wheat lost 31 cents to 6.36-6.37, and cash sorghum bids fell 26
cents to range from 5.24-5.25.
In northern and western Illinois, cash corn bids to producers at
country elevators were 14 to 24 cents lower at 5.67-5.86, with
central Illinois locations down 23 to 24 cents at 5.74-5.90 and
in southern Illinois bids lost
18 to 27 cents to range from 5.80-6.05.
Cash soybean bids in northern and
western were down 30 to 34 cents at 13.14-13.30 with central
Illinois bids losing 33 to 35 cents to 13.22-13.39 and southern
Illinois decreased 36 to 39 cents at 13.27-13.42.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations ended 9 cents lower
to range from 6.23-6.40.
New crop corn bids to producers at
the country elevators in northern and western Illinois were 8 to
9 cents higher to range from 4.81-4.93, with central Illinois
locations up 4 to 6 cents at 4.84-4.98 and in southern Illinois
bids increased 4 to 5 cents to 4.95-5.06.
New crop soybean bids for October
delivery in northern and western Illinois were 6 to 12 cents
lower at 12.27-12.38, with central Illinois locations mixed at
12.30-12.55 and in southern Illinois bids dropped 5 cents at
12.38-12.58. New crop wheat bids for June-July 2012 delivery in
southern Illinois ended 16 to 22 cents lower at 6.23-6.40.
___
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 |
5.71 - 5.82 |
13.17 - 13.28 |
|
| WESTERN |
5.71 - 5.81 |
13.24 - 13.31 |
|
| N. CENT. |
5.71 - 5.79 |
13.27 - 13.36 |
|
| S. CENTRAL |
5.80 - 5.88 |
13.34 - 13.44 |
|
| WABASH |
5.88 - 5.98 |
13.31 - 13.37 |
5.91 - 6.06 |
| W.S. WEST |
5.78 - 5.85 |
13.37 - 13.48 |
6.01 - 6.13 |
| L. EGYPT |
5.92 - 6.06 |
13.33 - 13.43 |
5.92 - 6.03 |
Central Illinois average price
Corn: 5.79 1/2 (+28 N)
Soybeans: 13.35 1/2 (- 9 N)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
| NORTHERN |
4.85 - 4.90 |
12.16 - 12.23 |
|
| WESTERN |
4.73 - 4.79 |
12.18 - 12.27 |
|
| N. CENT. |
4.72 - 4.81 |
12.21 - 12.33 |
|
| S. CENTRAL |
4.74 - 4.89 |
12.19 - 12.34 |
|
| WABASH |
4.83 - 4.92 |
12.28 - 12.34 |
|
| W.S. WEST |
4.90 - 4.98 |
12.39 - 12.45 |
|
|
L. EGYPT |
4.93 - 4.94 |
12.24 - 12.34 |
|
***June/July 2012 Delivery
Cent. Ill. Average Price at Country
Elevators
| Week of |
5/31/2012 |
5/24/2012 |
| |
Price Basis |
Price Basis |
| Corn |
5.82 +27 N |
6.05 1/2 +27 N |
| Soybeans |
13.30 1/2 - 9 1/2 N |
13.64 1/2 -11 1/2 N |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
|
