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Illinois grain prices in country elevators

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[February 09, 2013]  SPRINGFIELD -- This is Friday'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 mostly lower on Friday afternoon, with soybean values sharply lower.

The sharply lower soybean futures weighed on wheat and corn values.

Higher than expected World soybean stocks and Brazilian soybean production estimates weakened soybean prices.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were mixed at 6.96-7.09.

Soybean bids were 34 to 38 cents lower at 14.35-14.52.

In Central Illinois country grain dealers quoted shelled corn bids were 1 to 2 cents lower at 7.11-7.27.

Soybean bids were 31 to 35 cents lower at
14.56-14.67.

In the Southern part of the state, shelled corn bids were 2 cents lower at 7.04-7.34.

Soybean bids were 30 to 34 cents lower at 14.61-14.79.

Wheat bids were mostly steady at 7.51-7.71.

Illinois grains ended mixed with soybeans higher and corn and wheat lower.

Soybean futures were supported by the continued good export demand, especially from China, and strong soybean meal values.

Traders also paid attention to the South American weather forecast.

The slow export market weighed on both corn and wheat values.

Some beneficial rainfall in the Hard Red wheat growing regions also helped to push prices lower.

The release of the USDA's updated Supply Demand report on Friday kept some traders on the sidelines waiting for new news to move market values.

The trading in the cash grain market was slow to moderate. Basis levels were mixed this week, but were definitely stronger along the Illinois River terminals south of Peoria for both cash corn and soybeans.

The improvements in basis were definitely made to improve the flow of grain to the terminals.

The Central Illinois Soybean Processors cash bids were 19 to 20 cents higher ranging from 15.13-15.27, with basis steady to 1 cent higher at +26H to +40H.

The Central Illinois Corn Processors cash bids were down 23 to 34 cents ranging from 7.21-7.44, with basis mixed ranging from +10H to +33H.

At the Illinois River terminals south of Peoria, cash corn bids ended 20 to 22 cents lower ranging from 7.18-7.25, with basis up 7 to 9 cents at +7H to +14H.

Cash soybean bids gained 26 to 28 cents to 15.10-15.18, with basis gaining 7 to 9 cents ranging from +23H to +31H.

New crop wheat bids for delivery in July 2013 ended 26 to 30 cents lower ranging from 7.42-7.53, with basis steady to 4 cent higher at -21N to -10N. At the Illinois River terminals north of Peoria, cash corn bids were down 25 to 28 cents at 7.17-7.18, with basis 1 to 4 cents higher at +6H to +7H.

Cash soybean bids were up 14 to 18 cents
at 15.08-15.14, with basis 1 to 5 cents lower ranging from +21H to +27H.

New crop wheat bids for July 2013 delivery fell 28 to 30 cents to range from 7.37-7.44, with basis steady to 2 cents higher at -26N to -19N.

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At the St. Louis terminals cash corn bids were 28 to 29 cents lower at 7.20-7.21, with soybeans gaining 18 to 27 cents ranging from 15.18-15.29.

Cash bids for Soft Red Winter wheat fell 9 cents to 7.95-7.96 and cash sorghum bids were down 25 cents to range from 7.10-7.11.

In northern and western Illinois, cash corn bids to producers at country elevators lost 30 to 39 cents at 6.98-7.08, with central Illinois locations down 27 to 28 cents at 7.12-7.29 and in southern Illinois bids were 23 to 30 cents lower ranging from 7.06-7.36.

Cash soybean bids in northern and western locations were up 23 to 25 cents at 14.73-14.86 with central Illinois bids 12 to 13 cents higher at 14.87-15.02 and southern Illinois bids were up 12 to 14 cents at 14.91-
15.13.

Cash wheat bids for Soft Red Winter wheat in southern Illinois locations lost 13 to 21 cents to 7.51-7.77.

New crop wheat bids for June-July delivery in southern Illinois were 13 to 34 cents lower to range from 7.30-7.41.

___

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

6.96 - 7.07 14.35 - 14.44  

WESTERN 

7.02 - 7.09 14.39 - 14.52  

N. CENT.

7.11 - 7.18 14.56 - 14.67  

S. CENTRAL

7.14 - 7.27 14.56 - 14.67  

WABASH 

7.16 - 7.26 14.65 - 14.73  7.51 - 7.64

W.S. WEST

7.04 - 7.17 14.61 - 14.69 7.76 - 7.71

L. EGYPT

7.24 - 7.34 14.72 - 14.79  7.61 - 7.71

Central Illinois average price

Corn:  7.19 (+10 H)
Soybeans:
14.61 1/2 (+ 9 H)

CONTRACT BIDS FOR NEW CROP 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

5.23 - 5.37 12.40 - 12.59  

WESTERN 

5.23 - 5.35 12.34 - 12.50  

N. CENT.

5.24 - 5.39 12.41 - 12.52  

S. CENTRAL

5.28 - 5.43 12.49 - 12.59  

WABASH 

5.35 - 5.53 12.49 - 12.57 7.31 - 7.35

W.S. WEST

5.30 - 5.38 12.58 - 12.68  7.27 - 7.32

L. EGYPT

5.38 - 5.48 12.43 - 12.62 7.31 - 7.40

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

2/7/2013

1/31/2013

  Price--Basis Price--Basis

Corn

7.20 1/2 +10H

7.48 + 7 1/2H

Soybeans

14.94 1/2 + 8H

14.82 +13 1/2H

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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