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Illinois country grain prices were
lower on Friday afternoon.
Fund selling at the Board of Trade
helped to push grain futures lower.
The stronger US dollar also helped
to weaken prices.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 11 to 12 cents lower at 7.17-7.35.
Soybean bids were 34 to 37 cents
lower at 14.90-15.06.
In Central Illinois country grain dealers quoted shelled corn
bids were 12 to 16 cents lower at 7.29-7.46.
Soybean bids were 33 to 38 cents
lower at 15.09-15.22.
In the Southern part of the state, shelled corn bids were mostly
9 to 11cents lower at 7.18-7.60.
Soybean bids were 28 to 33 cents
lower at
15.05-15.24.
Wheat bids were mostly 4 cents
lower at 8.44-8.58.
Illinois grains-Grain futures ended mixed at the Chicago Board
of Trade, with corn higher and wheat and soybeans moving lower.
The outside markets were the major
influences early this week, as Hurricane Sandy closed financial
markets in New York on Monday and Tuesday.
The normal release of the USDA's
reports was delayed as well due to many offices in Washington
being closed.
Any other fundamental news items
for the grain market were few and far between.
The next major type grain report
will be released by the USDA on November 9th , and that will be
the monthly Crop Production numbers and updated Supply Demand
forecasts.
Some private forecasts were
released this week to give the public their ideas on the size of
the 2012 crops.
Export interest continues to be
moderate to good for US soybeans, with demand for US corn light
to moderate at best.
Prices for US corn continue to be
higher than most countries, with the South American corn price
being more competitive.
The fall soybean harvest made good progress last week, with
drier weather this week farmers should have again made good
progress to close the 2012 harvest.
Many producers, especially in
central Illinois were busy with fall fertilizer application,
with some starting to apply anhydrous ammonia.
According to the USDA's Illinois
Weather and Crops report, from the Illinois Field Office in
Springfield, the Illinois corn harvest had reached 94% complete,
compared to 92%
last week and 69% for the five year average.
The soybean crop was 87% harvested
in the state of Illinois, compared to 80% last week and 80% for
the five year average.
Wheat planting was 81% done,
compared to 69% last week and 79% for the five year average.
There was 49% of the crop emerged,
compared to 57% last year and 53% for the five year average.
Pastures conditions were rated at
21% very poor to poor, with 30% fair and 49% in good to
excellent condition.
The trading in the cash grain market was moderate.
Cash basis was mixed for the week,
but the river terminals did recover their losses from last week
to end higher.
Barge freight rates weakened to
become more reasonable for the river terminal managers to use.
The Central Illinois Soybean
Processors cash bids ended mixed at 15.67-15.76, with basis
steady to 7 cents higher at +9X to +18X.
The Central Illinois Corn
Processors cash bids were up 4 to 9 cents ranging from
7.51-7.61, with basis steady to 5 cents lower ranging from
option Z to +10Z.
At the Illinois River terminals
south of Peoria, cash corn bids ended 16 cents higher
ranging from 7.38-7.43, with basis up 7 cents at -13Z to -8Z.
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Cash soybean bids gained 11 to 16
cents at 15.60-15.65, with basis gaining 17 to 22 cents
ranging from +2X to +7X.
New crop wheat bids for delivery
in July 2013 ended 10 to 14 cents higher ranging from 8.42-8.47,
with basis steady to 4 cents higher at -35N to -30N.
At the Illinois River terminals
north of Peoria,
cash corn bids gained 9 to 11 cents to 7.33-7.36, with basis
steady to 2 cents higher at -18Z to -15Z.
Cash soybean bids were up 2 to 8
cents to 15.49-15.53, with basis 6 to 13 cents
stronger ranging from -91/2 X to -5X.
New crop wheat bids for July 2013
delivery gained 10 cents to range from 8.50-8.52, with basis
steady at -27N to -25N.
At the St. Louis terminals cash
corn bids were up 4 to 9 cents at 7.21-7.27, with soybeans up 3
to 9 cents ranging from
15.52-15.64.
Cash bids for Soft Red Winter
wheat gained 1 cent to 8.53-8.54 and cash sorghum bids were 2
cents lower to range from 7.10-7.11.
In northern and western Illinois, cash corn bids to producers at
country elevators were 10 cents higher at 7.29-7.46, with
central Illinois locations up 9 to 14 cents at 7.45-7.58 and in
southern Illinois bids gained 7 to 13 cents to range from
7.27-7.61.
Cash soybean bids in northern and
western locations were steady to 4 cents lower at 15.27-15.40
with central Illinois bids mixed at
15.42-15.64 and southern Illinois bids were steady to 3 cents
stronger at 15.33-15.57.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations dropped 4 cents to
8.36-8.59.
New crop wheat bids for June-July
delivery in southern Illinois advanced 4 to 10 cents to
range from 8.21-8.47.
___
Commercial grain prices paid farmers
by Interior Illinois Country Elevators after 2.00 p.m. xxx
are listed below in dollars per bushel:
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
US 2
SOFT
WHEAT |
|
NORTHERN |
7.25 - 7.35 |
14.90 - 15.06 |
|
|
WESTERN |
7.17 - 7.26 |
14.93 - 15.06 |
|
|
N. CENT. |
7.29 - 7.44 |
15.13 - 15.22 |
|
|
S. CENTRAL |
7.40 - 7.46 |
15.09 - 15.19 |
|
|
WABASH |
7.48 - 7.60 |
15.14 - 15.17 |
8.50 - 8.55 |
|
W.S. WEST |
7.18 - 7.28 |
15.05 - 15.23 |
8.50 - 8.58 |
|
L. EGYPT |
7.48 - 7.50 |
15.22 - 15.24 |
8.44 - 8.50 |
Central Illinois average price
Corn: 7.37 1/2 (- 2
Z)
Soybeans:
15.15 1/2 (-11 X)
CONTRACT BIDS FOR JANUARY 2013 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
7.32 - 7.46 |
14.88 - 15.09 |
|
|
WESTERN |
7.22 - 7.32 |
15.07 - 15.17 |
|
|
N. CENT. |
7.29 - 7.35 |
15.13 - 15.22 |
|
|
S. CENTRAL |
7.41 - 7.59 |
15.26 - 15.35 |
|
|
WABASH |
7.50 - 7.58 |
15.15 - 15.25 |
8.35 - 8.45 |
|
W.S. WEST |
7.27 - 7.33 |
15.29 - 15.40 |
8.19 - 8.35 |
|
L. EGYPT |
7.63 - 7.71 |
15.27 - 15.35 |
8.40 - 8.45 |
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
11/1/2012 |
10/25/2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
7.51 1/2 + 1/2 Z |
7.40 - 2Z
|
|
Soybeans |
15.53 -5 1/2 X |
15.52 -12X |
Annual Comparison
|
|
October 2012 |
October 2011 |
| |
Price--Basis |
Price--Basis |
|
Corn |
7.48 - 2Z |
6.23 - 9Z |
|
Soybeans |
15.27 -12X |
11.87 -27X |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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