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Illinois country grain prices were
mixed on Friday afternoon, with corn and wheat higher and
soybeans lower.
Wheat futures were again supported
by the lower value of the US dollar and better export
opportunities.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 4 to 8 cents higher at 7.49-7.90.
Soybean bids were 8 to 14 cents
lower at 16.91-17.19.
In Central Illinois country grain dealers quoted shelled corn
bids were 8 to 9 cents higher at 7.83-7.96.
Soybean bids were mostly 8 to 13
cents lower at 17.29-17.49.
In the Southern part of the state, shelled corn bids were 8 to 9
cents higher at 7.69-8.03.
Soybean bids were mostly 8 to 10
cents lower at 17.16-17.40.
Wheat bids were 20 to 22 cents
higher at 8.87-9.04.
Illinois grains-Grain futures ended mixed this week at the
Chicago Board of Trade.
Before the release of the USDA's
crop report on Wednesday morning, trading activity was at a
slower pace and many traders took profits and decided to sit on
the sidelines until after the report.
Soybean futures rallied after the
report as the carryout estimate remained at 115 million bushels
for the 2012-2013 crop year, even though the crop estimate was
24 million bushels lower than the August report.
On Thursday, the sharp drop in the
value of the US dollar rallied wheat values.
There were a few surprises in the release of the September crop
report. While the estimate for US corn production was lower than
the August report, it was still above the average trade guess.
The USDA estimated the 2012 US
corn production at 10.727 billion bushels, with an average yield
of 122.8 bushels per acre.
That was lower than the August
forecast of 10.779 billion bushels and an average yield of 123.4
bpa.
The US soybean production was
forecasted at 2.634 billion bushels, with an average yield of
35.3 bpa.
This forecast was slightly lower
than the August report and the average trade estimate, which
helped to support the rally on Wednesday.
Corn production for 2012 in Illinois was expected to average 110
bushels per acre, which was 6 bushel lower than the August
forecast.
With that average yield, corn
production would total 1.386 billion bushels, compared to 1.946
one year ago.
Soybean production for Illinois
farmers was
expected to average 37 bpa, which was the same as the August
forecast.
With this yield Illinois soybean
production would total 308.95 million bushels, compared to 416.4
million last year.
The forecast from the USDA's Supply and Demand report for the
2012-2013 corn carryout was increased to 733 million bushels, up
from 650 million in the August report.
The average price for corn in the
same time period was lowered to 7.90 per bushel, down from 8.20
from last month's report.
The US soybean carryout was
estimated at 115 million bushels, which was unchanged
from the August report and the average price was also steady at
16.00 per bushel.
The corn harvest was moving at a good pace in Illinois,
according to the USDA's Illinois Weather and Crops report, from
the Illinois Field Office in Springfield, the Illinois corn
harvest had reached 21% complete, compared to 4% last year and
6% for the five year average.
The southern regions again led in
the race with 36-47% done, compared to 2-17% for the northern
areas of the state.
The soybean harvest has officially
started as there was 1% harvested in the state of Illinois.
Many grain elevator managers
expect soybean harvest to get rolling in the next week to 10
days.
There was 21% of the soybean crop
dropping leaves, compared to 10% last year and 16% for the five
year average.
There was 60% of the crop turning
yellow, compared to 40 % last year and 42% for the five year
average.
The state's pasture land ratings
improved again this week and helped to put livestock producers
in a slightly better mood; there was 15% in the good to
excellent range, with 26% fair and 59% in the very poor to poor
range.
The trading in the cash grain market was too slow for many corn
and soybean processors this week, as basis did improve at many
locations.
The basis along the river
terminals was affected by sharply higher barge freight rates.
With harvest activity near its
peak for Kentucky, Missouri, Tennessee and Arkansas, freight
costs go up for us because barges would like to stay further
south and not travel up north where business is slower.
The Central Illinois Soybean
Processors
cash bids ended 5 to 10 cents higher at 17.62-17.87, with basis
up 5 to 10 cents ranging from +15X to +40X.
The Central Illinois Corn
Processors cash bids were down 22 to 24 cents ranging from
7.84-8.02, with basis steady to 2 cents higher ranging from +10Z
to +28Z.
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At the Illinois River terminals
south of Peoria, cash corn bids ended 28 to 31 cents lower
ranging from 7.45-7.47, with basis down 4 to 7 cents at -29Z to
-27Z.
Cash soybean bids gained 10 to 17
cents to 17.35-17.37, with basis up 10 to 17 cents ranging from
-12X to -10X.
Corn bids for January 2013
delivery fell 21 cents to range from 7.78-7.86, with basis up 2
cents to option H to +8H.
Soybeans for January 2013 delivery
ended steady ranging from 17.57-17.64, with basis down 2 cents
at +9F to +16F.
New crop wheat bids for delivery
in July 2013 ended 13 to 14 cents stronger ranging from
8.38-8.43, with basis steady to 1 cent lower at -40N to -35N.
At the Illinois River terminals
north of Peoria, cash corn bids dropped 27 to 29 cents to
7.54-7.63, with basis down 3 to 5 cents at -20Z to -11Z.
Cash soybean bids were mixed at
17.26-17.34, with basis mixed ranging from -21X to -13X.
Corn bids for January 2013
delivery fell 22 to 26 cents ranging from 7.72-7.75, with basis
mixed ranging from -6H to -21/2 H.
Soybean bids for January 2013
delivery were mixed ranging from 17.58-17.60, with basis steady
to 4 cents lower at +10F to +12F. New crop wheat bids for July
2013 delivery gained 14 cents to range from 8.37-8.38, with
basis steady at -41N to -40N. At the St. Louis terminals cash
corn bids were 25 to 27 cents lower at 7.49-7.52, with soybeans
up 5 to 15 cents ranging from 17.32-17.53.
Cash bids for Soft Red Winter
wheat increased 10 cents to 8.80-8.81, and cash sorghum bids
were 5 cents higher to range from 7.23-7.24.
In northern and western Illinois, cash corn bids to producers at
country elevators were 25 to 35 cents lower at 7.45-7.82, with
central Illinois locations down 16 to 29 cents at 7.74-7.88 and
in southern Illinois bids dropped 32 to 35 cents to range from
7.61-7.94.
Cash soybean bids in northern and
western locations were down 6 to 11 cents at 17.05-17.27 with
central Illinois bids gained 5 to 9 cents at 17.47-17.62 and
southern Illinois bids were 8 to 10 cents higher at 17.27-
17.37.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations gained 8 to 10
cents to 8.65-8.84.
Corn bids for January 2013 delivery at the country elevators in
northern and western Illinois fell 19 to 24 cents to range from
7.51-7.79, with central Illinois locations down 17 to 24 cents
at 7.79-7.97 and in southern Illinois bids were mostly 23 cents
lower and ranged from 7.77-8.08.
January 2013 delivery soybean bids
in northern and western Illinois were mixed at 17.24-17.35,
while central Illinois locations were also mixed ranging from
17.40-17.55 and in southern Illinois bids were mixed ranging
from 17.33-17.65.
New crop wheat bids for June-July
2013 delivery in southern Illinois ended 13 to 21 cents higher
at 8.27-8.48.
___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 |
7.75 - 7.90 |
17.09 - 17.19 |
|
|
WESTERN |
7.49 - 7.68 |
16.91 - 17.19 |
|
|
N. CENT. |
7.83 - 7.91 |
17.29 - 17.47 |
|
|
S. CENTRAL |
7.84 - 7.96 |
17.33 - 17.49 |
|
|
WABASH |
7.91 - 8.02 |
17.16 - 17.27 |
8.90 - 8.99 |
|
W.S. WEST |
7.69 - 7.95 |
17.17 - 17.40 |
8.87 - 8.99 |
|
L. EGYPT |
7.92 - 8.03 |
17.18 - 17.29 |
8.90 - 9.04 |
Central Illinois average price
Corn: 7.89 1/2 (+ 7 1/2 Z)
Soybeans:
17.39 (+ opt X)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
7.67 - 7.87 |
17.16 - 17.27 |
|
|
WESTERN |
7.62 - 7.73 |
17.22 - 17.29 |
|
|
N. CENT. |
7.87 - 7.98 |
17.32 - 17.40 |
|
|
S. CENTRAL |
7.89 - 8.06 |
17.32 - 17.47 |
|
|
WABASH |
8.02 - 8.13 |
17.25 - 17.37 |
8.58 - 8.61 |
|
W.S. WEST |
7.84 - 8.07 |
17.44 - 17.53 |
8.35
- 8.43 |
|
L. EGYPT |
8.09 - 8.11 |
17.40
- 17.54 |
8.53
- 8.63 |
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
9/13/2012 |
9/6/2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
7.81 +7Z |
8.03 1/2 +5Z |
|
Soybeans |
17.54 1/2 +7X |
17.47 1/2 + 1/2 X |
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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