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Illinois grain prices in country elevators

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[February 08, 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 lower on Thursday afternoon, with corn futures moderately to sharply lower.

Speculative selling and slow export demand weakened corn futures.

Many traders were waiting for the latest Supply and Demand report to be released on Friday.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were mostly 10 to 12 cents lower at 6.98-7.08.

Soybean bids were mixed at 14.73-14.86.

In Central Illinois country grain dealers quoted shelled corn bids were 11 to 12 cents lower at 7.12-7.29.

Soybean bids were steady to 1 cent lower at 14.87-15.02.

In the Southern part of the state, shelled corn bids were 11 to 12 cents lower at 7.06-7.36.

Soybean bids were 1 to 5 cents lower at 14.91-15.13.

Wheat bids were 2 to 4 cents lower at 7.51-7.77.


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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

6.98 - 7.06 14.73 - 14.79  

WESTERN 

7.03 - 7.08 14.76 - 14.86  

N. CENT.

 7.12 - 7.20 14.87 - 15.01  

S. CENTRAL

7.16 - 7.29 14.93 - 15.02  

WABASH 

7.18 - 7.28 14.99 - 15.07 7.51 - 7.64

W.S. WEST

7.06 - 7.19 14.91 - 15.04  7.62 - 7.77

L. EGYPT

7.26 - 7.36 15.06 - 15.13 7.61 - 7.71

Central Illinois average price

Corn:  7.20 1/2 (+10 H)
Soybeans:
14.94 1/2 (+ 8 H)

CONTRACT BIDS FOR NEW CROP 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

5.25 - 5.39 12.82 - 12.92  

WESTERN 

5.26 - 5.39 12.75 - 12.92  

N. CENT.

5.27 - 5.42 12.83 - 12.94  

S. CENTRAL

5.31 - 5.47 12.93 - 13.01  

WABASH 

5.40 - 5.57 12.90 - 13.04 7.32 - 7.35

W.S. WEST

5.25 - 5.40 13.00 - 13.09 7.30 - 7.33

L. EGYPT

5.42 - 5.52 12.85 - 12.99 7.32 - 7.41

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

1/31/2013

1/24/2013

  Price--Basis Price--Basis

Corn

7.48 + 7 1/2 H

7.28 + 4H

Soybeans

14.82 +13 1/2 H

14.45 1/2 +10H

Annual Comparison

 

January 2013

February 2012

  Price--Basis Price--Basis

Corn

7.17 + 2H

6.41 + 1/2H

Soybeans

14.30 +11H  

12.40 -15 H

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

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