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Illinois country grain prices were
mixed on Friday afternoon, with corn and soybeans higher and
wheat lower. Corn and soybeans started the day lower because of
non-commercial selling. Later in the session commercial interest
started buying, allowing corn and soybeans to finish higher.
Corn processor basis continues to improve with increases of 6 to
8 cents noted.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 7 to 14 cents higher at 6.31-6.45. Soybean
bids traded 3 to 5 cents higher at 14.50-14.63.
In Central Illinois country grain dealers quoted shelled corn
bids were 7 to 13 cents higher at 6.34-6.59. Soybean bids were 2
to 9 cents higher at 14.54-14.74.
In the Southern part of the state, shelled corn bids were 5 to
10 cents higher at 6.44-6.60. Soybean bids were 4 to 6 cents
higher at 14.63-14.81. Wheat bids were 4 to 6 cents lower at
5.86-6.06.
Illinois grains- Grain futures ended mixed this week, with
soybean and wheat bids lower and corn trading slightly to
moderately higher.
Liquidation selling as recession fears tied to Europe swept
across the grain complex resulted in grain losses.
The dollar traded higher in response to the weaker Euro.
Corn posted gains on strong export sales
for the week. Weekly export sales for corn were well above
expectations at 3,472,200 tonnes with 1,331,900 tonnes slated
for 2011-2012 season. The totals were the highest since 1991.
Soybeans had weekly export sales
well above expectations at 1,732,000 tonnes with 598,000 tonnes
slated for 2011-2012 season.
Wheat followed other grains lower
as ample world wheat stocks are meeting global demands and
limiting buyer interest.
In the Illinois Weather and Crops update released Monday, by the
USDA's NASS Illinois Field Office, most of the state experienced
cooler temperatures and below normal rainfall compared to
previous weeks.
Temperatures averaged 54.1 degrees, 2.2 degrees below normal.
Statewide
precipitation averaged 0.46 inches, 0.40 inches below normal.
The rainfall was heavier during the weekend, enabling a good
amount of fieldwork to be completed during the week, days
suitable increased to 4.8 days, compared to 3.9 the previous
week.
Corn planting progress has reached
79 percent statewide, compared to 10 percent this time last year
and a 5-year average of 29 percent.
Soybean planting progress is at 13
percent, compared to a 5-year average of 2 percent. The first
report of soybeans emergence was received last week.
Wheat headed is at 80 percent
compared to the 5-year average of 6 percent.
Topsoil moisture was rated at 4
percent very short, 18 percent short, 63 percent adequate, and
15 percent surplus.
Winter wheat conditions are now
rated at 4 percent very poor to poor, 16 percent fair, 60
percent good and 20 percent excellent.
The trading in the cash grain market was slow.
Basis for cash corn continued to
improve at both processors and river terminals.
At the Central Illinois Soybean
Processors cash bids ended 4 1/2 to 10 1/2 cents
lower at 14.76 1/2 -14.83 1/2, with basis at 3N to 10N.
The Central Illinois Corn
Processors cash bids were 16 to 19 cents higher with bids
ranging from 6.50-6.66 with basis 9 to 12 cents higher at +35N
to +52N.
At the Illinois River terminals south of Peoria, cash corn bids
ended 12 1/2 to 19 1/2 cents higher ranging from 6.56-6.58, with
basis at +42N to +43N.
Cash soybean bids dropped 11 1/2
to 12 1/2 cents at 14.74-14.78, with basis at +1N to +4N.
New crop corn bids for October
delivery were
down 1/2 cent to range from 5.06-5.10, with basis 5 cents higher
at -23Z to -19Z.
New crop soybean bids advanced 9
to 16 cents to 13.50-13.60, with basis steady to 70 cents higher
ranging from -18X to -8X.
New crop wheat bids for July 2012
delivery were 20 cents lower ranging from 6.06-
6.16, with basis steady ranging from -10N to option N.
At the Illinois River terminals
north of Peoria, cash corn bids gained 11 to 14 cents at
6.51-6.52, with basis at +36 1/2N to +37 1/2N. Cash soybean bids
dropped 11 1/2 to 12 1/2 cents lower at 14.72 1/2 -14.74 1/2,
with basis at -1N to +1NK.
[to top of second column] |
New crop corn bids for October
delivery ended 1/2 to 3 1/2 cents lower at 5.02 1/2 -5.08 1/2,
with basis 2 to 5 cents higher ranging from -27Z to -21Z.
New crop soybean bids gained 16 to
17 cents to 13.50-13.52, with basis 7 to 8 cents higher at -18X
to -16X.
New crop wheat bids were down 20
cents to 6.10-6.12, with basis unchanged at -5N to -4N.
At the St. Louis terminals cash
corn bids were 19 to 20 cents higher at 6.70-6.74, with soybeans
down 10 to 11 cents from 14.95-14.96.
Cash bids for Soft Red Winter
wheat dropped 19 cents to 6.30-6.31, with cash sorghum bids down
14 cents to range from 5.84-5.85.
In northern and western Illinois, cash corn bids to producers at
country elevators were 10 to 16 cents higher at 6.23-6.31, with
central Illinois locations 13 to 16 cents higher at 6.27-6.46
and in southern Illinois bids
gained 4 to 15 cents to range from 6.39-6.50.
Cash soybean bids in northern and
western were down 7 to 14 cents at 14.53-14.57 with central
Illinois bids losing 4 to 5 cents to 14.53-14.65 and southern
Illinois decreased 5
to 10 cents at 14.58-14.76.
Cash wheat bids for Soft Red
Winter wheat in
southern Illinois locations ended 18 to 19 cents lower to range
from 5.92-6.10.
New crop corn bids to producers at the country elevators in
northern and western Illinois were 4 to 5 cents lower to range
from 4.85-5.01, with central Illinois locations down 1 to 6
cents at 4.92-5.07 and in southern
Illinois bids fell 4 cents to 5.01-5.12.
New crop soybean bids for October
delivery in northern and western Illinois were 9 to 14 cents
higher at 13.24-13.33, with central Illinois locations up 9
cents to 13.27-13.38
and in southern Illinois bids gained 12 to 14 cents at
13.33-13.54.
New crop wheat bids for July 2012
delivery in southern Illinois ended 15 to 20 cents lower at
5.91-6.19.
___
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 |
6.31 - 6.45 |
14.50 - 14.53 |
|
| WESTERN |
6.35 - 6.41 |
14.52 - 14.63 |
|
| N. CENT. |
6.34 - 6.40 |
14.54 - 14.74 |
|
| S. CENTRAL |
6.43 - 6.59 |
14.57 - 14.70 |
|
| WABASH |
6.45 - 6.52 |
14.63 - 14.70 |
5.86 - 5.95 |
| W.S. WEST |
6.50 - 6.55 |
14.68 - 14.81 |
5.96 - 6.06 |
| L. EGYPT |
6.44 - 6.60 |
14.65 - 14.78 |
5.90 - 6.02 |
Central Illinois average price
Corn: 6.46 1/2 (+26 1/2N)
Soybeans: 14.64 (-14 N)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
| NORTHERN |
4.81 - 4.95 |
13.23 - 13.32 |
|
| WESTERN |
4.80 - 4.88 |
13.22 - 13.39 |
|
| N. CENT. |
4.87 - 4.95 |
13.26 - 13.37 |
|
| S. CENTRAL |
4.88 - 5.02 |
13.27 - 13.37 |
|
| WABASH |
4.96 - 5.06 |
13.32 - 13.37 |
5.85 - 5.97 |
| W.S. WEST |
4.99 - 5.06 |
13.50 - 13.52 |
6.08 - 6.13 |
|
L. EGYPT |
5.00 - 5.05 |
13.32
- 13.37 |
5.90 - 6.02 |
***June/July 2012 Delivery
Cent. Ill. Average Price at Country
Elevators
| Week of |
5/4/2012 |
4/26/2012 |
| |
Price Basis |
Price Basis |
| Corn |
6.36
1/2 22N |
6.22 -2K |
| Soybeans |
14.58 1/2 -15N |
14.63 1/2 -18K |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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