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Illinois grain prices in country elevators

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[October 04, 2012]  SPRINGFIELD -- This is Wednesday's report of the grain prices and trends, prepared by the USDA and the Illinois Department of Agriculture.

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Illinois country grain prices were mixed on Wednesday afternoon. Soybean bids closed higher supported by an increase in export interest. In the cash markets, trading has been moderate to active. The cash corn basis weakened at many corn processors today with losses of 7 to 10 cents noted. Lower rates for barge freight at many river terminals strengthened both the corn and soybean basis levels.

In Northern and Western Illinois country grain dealers quoted shelled corn bids mostly steady to 2 cents lower at 7.28-7.47. Soybean bids were steady to 7 cents higher at 14.93-15.12.

In Central Illinois country grain dealers quoted shelled corn bids were 2 to 3 cents lower at 7.46-7.65. Soybean bids were 1 cent higher at 15.11-15.27.

In the Southern part of the state, shelled corn bids were 1 cent lower at 7.39-7.72. Soybean bids were 1 cent higher at 15.01-15.28. Wheat bids were mostly steady to 1 cent higher at 8.38-8.65.

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Commercial grain prices paid farmers by Interior Illinois Country Elevators after 2.00 p.m. Wednesday are listed below in dollars per bushel:

AREA 

US 2

CORN

US 1

SOYBEANS

 US 2

SOFT

WHEAT 

NORTHERN

7.39 - 7.47 15.09 - 15.12  

WESTERN 

7.28 - 7.30 14.93 - 15.07  

N. CENT.

7.46 - 7.62 15.11 - 15.27  

S. CENTRAL

7.46 - 7.65  15.14 - 15.22  

WABASH 

7.62 - 7.72 15.01 - 15.12 8.40 - 8.56

W.S. WEST

 7.39 - 7.67 15.14 - 15.28 8.48 - 8.65

L. EGYPT

7.57 - 7.67 15.07 - 15.15  8.38 - 8.55

Central Illinois average price

Corn: 7.55 1/2 (- 1 Z)
Soybeans:
15.19 (-13 X)

CONTRACT BIDS FOR JANUARY 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

7.39 - 7.54 15.08 - 15.19  

WESTERN 

7.36 - 7.50 15.12 - 15.14  

N. CENT.

7.52 - 7.65 15.17 - 15.31  

S. CENTRAL

7.64 - 7.76 15.30 - 15.39  

WABASH 

7.75 - 7.80 15.17 - 15.30 8.16 - 8.20

W.S. WEST

7.53 - 7.76 15.40 - 15.58

 8.02 - 8.27

L. EGYPT

7.80 - 7.82

15.28 - 15.32

8.12 - 8.21

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

 9/20/2012   9/13/2012
  Price--Basis Price--Basis

Corn

7.52 + 6Z

7.81 +7Z

Soybeans

 16.07 - 12X

17.54 1/2 +7X

Annual Comparison

 

August 2012 

August 2011
  Price--Basis Price--Basis

Corn

8.15 +12 U

7.30 +16 U

Soybeans

17.09 +44 X

13.59 -11 X

[Text copied from USDA-IL Dept of Ag Market News, Springfield]

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