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Illinois country grain prices were
mostly higher on Friday afternoon. Technical trading at the
Board of Trade supported grain futures. Many traders evened
positions before the extended holiday weekend. In the cash
markets, trading continued to be very slow. The cash corn basis
did show improvement at many river terminals.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids steady to 4 cents lower at 5.85-6.00.
Soybean bids traded 6 to 8 cents
higher at 13.56-13.66.
In Central Illinois country grain dealers quoted shelled corn
bids were steady to 3 cents lower at 5.97-6.11.
Soybean bids were mostly 6 cents
higher at 13.63-13.77.
In the Southern part of the state, shelled corn bids were steady
to 3 cents lower at 5.96-6.27.
Soybean bids were 3 to 7 cents
higher at 13.70-13.84.
Wheat bids were 10 to 13 cents
higher at 6.45-6.65.
Illinois grains- Grain futures ended
mixed, with wheat values higher and corn and soybeans sharply
lower. Wheat futures had support from dry soil conditions in the
hard red wheat growing regions. In the USDA's
Weekly Crop Progress report the good
to excellent range for wheat in Kansas fell from 53% last week
to 43% this week.
Weekly export sales for corn this
week were the lowest in several months. This plus a better
chance for rain next week helped to push prices lower.
Fund selling at the Board of Trade
was also a major source of pressure this week in corn and
soybean futures.
The job of planting the state's corn crop was almost complete.
Illinois producers had planted 99% of the state's corn crop,
compared to 84% last year and the five year average of 79%,
according to the USDA's Illinois Weather and Crops report, from
the Illinois Field Office in Springfield.
Crop progress was also ahead of
schedule as 88% of the crop had emerged, compared to 47% last
year and the five year average of 55%.
The crop was also in very good
shape, with 79% in good to excellent condition, with 18% fair
and 3% in very poor to poor condition.
Soybean planting was 80% complete,
compared to 38% last year and the five year average of 37%.
There was 40% of the crop emerged, compared to 9% last year and
13% for the five year average.
The wheat crop continued to mature
ahead of schedule as 45% had turned yellow, compared to 1% last
year and less than one per cent for
the five year average.
We have had report of several loads
of wheat being
delivered to terminals and country elevators this week. Most of
the loads contained way too much moisture, but the quality was
good. The elevators
were hoping producers would wait until after the Memorial Day
holiday to begin the wheat harvest in Illinois.
This past period of dry weather has
given hay producers a great chance to bale some dry high quality
hay. The first cutting of alfalfa was 68% complete, compared to
13% last year and
the five year average of 19%. There were a few producers in
southern Illinois able to harvest their second cutting of
alfalfa.
The trading in the cash grain market was slow. Sharply lower
bids for corn and soybeans put the lid on farmer selling. Lower
basis levels for cash
corn at many river terminals pushed bids even lower, now many
producers were content to hope for a rally.
At the Central Illinois Soybean
Processors cash bids ended 55 to 62 cents lower at 13.86-13.91;
with basis mostly steady ranging from +10N to +15N.
The Central Illinois Corn Processors
cash bids were 52 to 54 cents lower with bids ranging from
6.18-6.31, and basis 5 to 7 cents lower at +40N to +53N.
At the Illinois River terminals
south of Peoria, cash corn bids ended 71 to 73 cents lower
ranging from 5.97-6.02, with basis down 21 to 24 cents at +19N
to +24N.
Cash soybean bids decreased 68 cents
at 13.77-13.82, with basis losing 6 cents to range from +1N to
+6N.
New crop corn bids for October delivery were down 12 to 13 cents
to range from 4.93-5.00, with basis steady to up 1 cent at -22Z
to -15Z.
New crop soybean bids fell 29 to 30
cents to 12.58-12.67, with basis steady to 1 cent higher at -18X
to -9X.
New crop wheat bids for July 2012
delivery were 7 to
9 cents lower ranging from 6.43-6.47, with basis dropping 12 to
16 cents ranging from -20N to -16N.
At the Illinois River terminals
north of Peoria, cash corn bids fell 69 cents to 5.92-5.97, with
basis down 22 cents at +14N to +19N.
[to top of second column] |
Cash soybean bids were down 64 to 66
cents to 13.76-13.82, with basis down 2 to 5 cents to option N
to +6N.
New crop corn bids for October
delivery ended 13 to 14 cents lower at 4.90-4.92, with basis
steady to 1
cent lower ranging from -25Z to -23Z.
New crop soybean bids lost 29 to 30
cents to 12.57-12.59, with basis steady to 1 cent higher at -19X
to -17X.
New crop wheat bids were down 8 to 9 cents to 6.45-6.46, with
basis falling 13 to 14 cents to -18N to -17N.
At the St. Louis terminals cash corn
bids were 52 to 58 cents lower at 6.24-6.25, with soybeans down
66 to 68 cents from 13.96-14.01.
Cash bids for Soft Red Winter wheat
lost 7 cents to 6.67-6.68, and cash sorghum bids fell 42 cents
to range from 5.50-5.51.
In northern and western Illinois, cash corn bids to producers at
country elevators were 48 to 55 cents lower at 5.91-6.00, with
central Illinois locations down 48 to 50 cents at 5.97-6.14 and
in southern Illinois bids lost 43 to 60 cents to range from
5.98-6.32.
Cash soybean bids in northern and
western were down 63 to 65 cents at 13.48-13.60 with central
Illinois bids losing 55 to 59 cents to 13.55-13.74 and southern
Illinois decreased 63 to 64 cents at 13.63-13.81.
Cash wheat bids for Soft Red Winter
wheat in
southern Illinois locations ended 5 to 9 cents lower to range
from 6.32-6.49.
New crop corn bids to producers at the country elevators in
northern and western Illinois were 11 to 17 cents lower to range
from 4.72-4.81, with
central Illinois locations down 12 to 13 cents at 4.78-4.94 and
in southern Illinois bids dropped 9 to 10 cents to 4.90-5.02.
New crop soybean bids for October
delivery in northern and western Illinois were 24 to 28 cents
lower at 12.33-12.50, with central Illinois locations down 30 to
31 cents to 12.37-12.53 and in southern Illinois bids dropped 29
to 30 cents at 12.43-
12.63.
New crop wheat bids for June-July
2012 delivery in southern Illinois ended mixed at 6.39-6.62.
___
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 |
5.85 - 5.86 |
13.56 - 13.60 |
|
| WESTERN |
5.90 - 6.00 |
13.56 - 13.66 |
|
| N. CENT. |
5.97 - 6.02 |
13.63 - 13.69 |
|
| S. CENTRAL |
6.04 -
6.11 |
13.66 - 13.77 |
|
| WABASH |
6.13 - 6.21 |
13.70 - 13.74 |
6.55 - 6.65 |
| W.S. WEST |
5.96 - 6.11 |
13.72 - 13.80 |
6.48 - 6.59 |
| L. EGYPT |
6.13 - 6.27 |
13.74 - 13.84 |
6.45 - 6.60 |
Central Illinois average price
Corn:
6.04 (+25 1/2N)
Soybeans: 13.70 (-12 N)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
| NORTHERN |
4.78 - 4.81 |
12.46 - 12.54 |
|
| WESTERN |
4.78 - 4.86 |
12.44 - 12.58 |
|
| N. CENT. |
4.84 - 4.93 |
12.52 - 12.64 |
|
| S. CENTRAL |
4.86 - 4.99 |
12.49 - 12.64 |
|
| WABASH |
4.94 - 5.01 |
12.59 - 12.65 |
6.50 - 6.65 |
| W.S. WEST |
5.01 - 5.07 |
12.68 - 12.76 |
6.62 - 6.70 |
|
L. EGYPT |
5.01 - 5.02 |
12.57 - 12.65 |
6.47 - 6.60 |
***June/July 2012 Delivery
Cent. Ill. Average Price at Country
Elevators
| Week of |
5/24/2012 |
5/17/2012 |
| |
Price Basis |
Price Basis |
| Corn |
6.05 1/2 +27 N |
6.54 1/2 +29 1/2 N |
| Soybeans |
13.64 1/2 -11 1/2 N |
14.21 1/2 -16 1/2 N |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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