Illinois grain prices in country elevators

[February 01, 2013]  SPRINGFIELD -- This is Thursday'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 Thursday afternoon, with corn slightly higher and soybeans and wheat lower.

Technical selling at the Board of Trade and a change in the South American weather forecast pushed soybean futures lower.

In the cash markets, trading was slow. With export demand weaker, the cash soybean basis at many river terminals has been sharply lower.

Over the last two days the cash soybean basis has dropped to cents at many Illinois River terminals.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were mostly steady at 7.28-7.47.

Soybean bids were 18 to 24 cents lower at 14.50-14.61.

In Central Illinois country grain dealers quoted shelled corn bids were steady to 4 cents higher at 7.40-7.56.

Soybean bids were 8 to 9 cents lower at 14.74-14.90.

In the Southern part of the state, shelled corn bids were 1 to 3 cents higher at 7.29-7.66.

Soybean bids were 16 to 18 cents lower at 14.79-14.99.

Wheat bids were 7 to 8 cents lower at 7.72-7.90.

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

AREA	US 2 CORN	US 1 SOYBEANS	US 2 SOFT WHEAT
NORTHERN	7.36 - 7.47	14.56 - 14.59
WESTERN	7.28 - 7.35	14.50 - 14.61
N. CENT.	7.40 - 7.48	14.74 - 14.90
S. CENTRAL	7.40 - 7.56	14.76 - 14.88
WABASH	7.47 - 7.58	14.87 - 14.94	7.75 - 7.87
W.S. WEST	7.29 - 7.43	14.79 - 14.88	7.79 - 7.83
L. EGYPT	7.56 - 7.66	14.89 - 14.99	7.72 - 7.90

Central Illinois average price

Corn:  7.48 (+ 7 1/2 H)
Soybeans: 14.82 (+13 1/2 H)

CONTRACT BIDS FOR NEW CROP 2013 DELIVERY

AREA	US 2 CORN	US 1 SOYBEANS	***US 2 SOFT WHEAT
NORTHERN	5.49 - 5.63	12.85 - 12.95
WESTERN	5.51 - 5.65	12.83 - 12.96
N. CENT.	5.53 - 5.68	12.87 - 13.03
S. CENTRAL	5.54 - 5.67	12.95 - 13.03
WABASH	5.61 - 5.71	12.95 - 13.03	7.61 - 7.75
W.S. WEST	5.53 - 5.62	13.03 - 13.13	7.43 - 7.48
L. EGYPT	5.66 - 5.76	12.93 - 13.03	7.51 - 7.70

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of	1/24/2013	1/17/2013
	Price--Basis	Price--Basis
Corn	7.28 + 4H	7.27 + 2 1/2H
Soybeans	14.45 1/2 +10H	14.42 +12H

Annual Comparison

	December 2012	January 2012
	Price--Basis	Price--Basis
Corn	7.23 option H	6.25 -6H
Soybeans	14.50 -8F	11.82 -221/2 H

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