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Illinois country grain prices were
higher on Friday afternoon.
The dry forecast, especially for
the eastern cornbelt, supported grain futures.
A lower estimate for the South
American soybean crop also gave a boost to soybean futures.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids steady to 4 cents higher at 6.07-6.26.
Soybean bids traded 4 cents higher
at 14.26-14.37.
In Central Illinois country grain dealers quoted shelled corn
bids were mostly 4 to 5 cents higher at 6.09-6.21.
Soybean bids were 4 cents higher
at 14.26-14.46.
Wheat bids were 11 to 16 cents
higher at 6.48-6.71.
In the Southern part of the state, shelled corn bids were 1 to 4
cents higher at 6.09-6.39.
Soybean bids were 3 to 5 cents
higher at 14.35-14.50.
Wheat bids were mostly 10 to 13
cents higher at 6.62-6.95.
Illinois grains- Grain
futures ended mixed, with corn lower and wheat and soybeans
ending higher.
The weather forecast seemed to
draw the most attention for traders at the Board of Trade this
week.
The USDA's Crop Progress report
set the stage on Monday afternoon; it confirmed the effects of
the dry weather had on the corn and soybean crops.
The US corn crop placed 63% in the
good to excellent range, down 3% from one week ago, while the US
soybean crop placed 56% in the good to excellent category, down
4%
from one week ago.
Export sales and interest were
better for wheat and soybeans this week, helping to support
higher prices.
The dry soil conditions continue to take a toll on the corn and
soybeans crops in Illinois.
According to the USDA's Illinois
Weather and Crops report, from the Illinois Field Office in
Springfield, the Illinois corn crop placed 52% in the good to
excellent range, down 4% from last week, there was 35% fair and
13% very poor to poor.
The condition of the state's
soybean crop
also fell by 3%, with 47% of the soybean crop in the good to
excellent range, with 39% fair and 14% in the very poor to poor
range.
The topsoil moisture ratings
placed only 1% in the surplus category, with 29% adequate, 46%
short and 24% very short.
Most of the state's corn and
soybean crops have been surviving on subsoil moisture, but even
that is getting short. There was 25%
in the adequate range, with 50% short and 25% in the very short
category.
The old saying, "Knee high by the fourth of July" doesn't say
anything about the Illinois corn crop this year.
There was already 5% of the crop
in the
silk stage, compared to less than 1% for last year and the five
year average.
The wheat crop was 70% harvested, compared to 3% last year and
12% for the
five year average. Yields and quality continue to be good as the
harvest moved from the central region of Illinois to the
northern areas.
The trading in the cash grain market was slow again this week,
but the corn processors tried their best to buy corn. For
several days, the corn processor basis had been strong.
Then early this week it got even stronger, until it reached its
peak on Thursday morning, as it started to fall on Thursday
afternoon. This basis movement was the most notable change
in cash bids this week.
At the Central Illinois Soybean
Processors cash bids ended 52 cents higher at 14.58-14.66, with
basis steady ranging from +20N to +28N.
The Central Illinois Corn
Processors cash bids were 27 to 45 cents lower with bids ranging
from 6.24-6.31, and basis was 12 to 30 cents lower at +38N to
+45N.
At the Illinois River terminals
south of Peoria, cash corn bids ended 28 to 30 cents lower
ranging from 6.15-6.23, with basis down 13 to 15 cents at +29N
to +37N.
Cash soybean bids increased 47 to
48 cents at 14.46-14.53, with basis 4 to 5 cents lower ranging
from +8N to +15N.
Wheat bids ended 41 to 48 cents
stronger ranging from 6.51-6.58, with basis up 3 to 10 cents at
-17N to -3N.
New crop corn bids for October
delivery were up 32 to 39 cents to range from 5.33-5.38, with
basis mixed at -17Z to -12Z.
[to top of second column] |
New crop soybean bids gained 66 to
69 cents to 13.65-13.71, with basis up 3 to 6 cents at -6X to
option X.
At the Illinois River terminals north of Peoria, cash corn bids
fell 37 to 43 cents to 6.14-6.18, with basis down 22 to 28 cents
at +28N to +32N.
Cash soybean bids advanced 51 to
55 cents to 14.49-14.53, with basis mixed ranging
from +11N to +15N.
Cash wheat bids gained 48 to 49
cents to 6.54-6.56, with basis 10 to 11 cents higher at of -7N
to -5N.
New crop corn bids for October
delivery ended 36 cents stronger at 5.26-5.28, with basis up 2
cents ranging from -24Z to -22Z.
New crop soybean bids gained 65 cents to 13.57-13.59, with basis
2 cents higher at -14X to -11 1/2X.
At the St. Louis terminals cash
corn bids were 25 to 30 cents lower at 6.30-6.31, with soybeans
up 46 to 48 cents from 14.59-14.62.
Cash bids for Soft Red Winter
wheat gained 34 cents to 6.67-6.68, and cash sorghum bids were
15 cents lower to range from 5.51-5.52.
In northern and western Illinois, cash corn bids to producers at
country elevators were 12 to 22 cents lower at 6.07-6.30, with
central Illinois locations fell 31 to 32 cents at 6.00-6.18 and
in southern Illinois bids
dropped 13 to 27 cents to range from 6.08-6.43.
Cash soybean bids in northern and
western were up 52 to 54 cents at 14.22-14.33 with central
Illinois bids gaining 52 to 53 cents to 14.22-14.42 and southern
Illinois increased 47 to 55 cents at 14.32-14.45.
Cash wheat bids for Soft Red
Winter wheat in central Illinois gained 34 to 44 cents to
6.32-6.60, with southern Illinois locations down 40 to 49 cents
at 6.50-6.82.
New crop corn bids to producers at the country elevators in
northern and western Illinois were up 34 to 36 cents to range
from 5.09-5.20, with central Illinois locations gaining 33 to 34
cents at 5.13-5.28 and in southern Illinois bids increased 30 to
37 cents to 5.20-5.44.
New crop soybean bids for October
delivery in northern and western Illinois were up 62 to 68 cents
at 13.33-13.43, with central Illinois locations gaining 61 to 62
cents at 13.34-13.48 and in southern Illinois bids advanced 63
to 66 cents at 13.41-13.62.
___
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 |
6.15 - 6.26 |
14.26 - 14.30 |
|
|
WESTERN |
6.07 - 6.22 |
14.28 - 14.37 |
|
|
N. CENT. |
6.09 - 6.21 |
14.26 - 14.38 |
|
|
S. CENTRAL |
6.10 - 6.21 |
14.40 - 14.46 |
6.48 - 6.71 |
|
WABASH |
6.28 - 6.35 |
14.35 - 14.42 |
6.68 - 6.83 |
|
W.S. WEST |
6.09 - 6.22 |
14.35 - 14.49 |
6.62 - 6.88 |
|
L. EGYPT |
6.34 - 6.39 |
14.37 - 14.50 |
6.83 - 6.95 |
Central Illinois average price
Corn: 6.15
(+24 N)
Soybeans:
14.36 (- 6 1/2N)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
5.13 - 5.24 |
13.32 - 13.48 |
|
|
WESTERN |
5.13 - 5.23 |
13.36 - 13.45 |
|
|
N. CENT. |
5.19 - 5.27 |
13.38 - 13.50 |
|
|
S. CENTRAL |
5.21 - 5.33 |
13.43 - 13.54 |
--- |
|
WABASH |
5.25 - 5.36 |
13.46 - 13.55 |
--- |
|
W.S. WEST |
5.27 - 5.40 |
13.55 - 13.67 |
--- |
|
L. EGYPT |
5.36 - 5.50 |
13.49 - 13.55 |
--- |
Cent. Ill. Average Price at Country
Elevators
|
Week of |
6/21/2012 |
6/14/2012 |
| |
Price Basis |
Price Basis |
|
Corn |
6.09 +22 1/2 N |
6.401/2 +39 N |
|
Soybeans |
14.32 - 6 1/2 N |
13.791/2 -81/2 N |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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