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Illinois country grain prices were
lower on Friday afternoon, with soybeans sharply lower.
Technical selling at the Board of
Trade helped to send soybean futures lower.
Many traders decided to take
profits ahead of the weekend. In the cash markets, trading was
moderate.
Some producers took advantage of
the higher cash soybean bids to make some additional sales.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were mixed at 6.83-7.11.
Soybean bids were 24 to 27 cents
lower at 14.46-14.61.
In Central Illinois country grain dealers quoted shelled corn
bids were steady to 1 cent higher at 6.91-7.10.
Soybean bids were down 28 to 29
cents at 14.63-14.73.
In the Southern part of the state, shelled corn bids were 1 cent
lower at 6.86-7.15.
Soybean bids were 26 to 27 cents
lower at 14.70-14.87.
Wheat bids were 6 to 10 cents
lower at 7.10-7.30.
Illinois grains ended mixed with soybeans sharply higher and
corn and wheat lower.
Soybean values improved due to
technical buying at the Board of Trade, good export interest,
especially from China, drier than expected weather for the South
American soybean crop and transportation and shipping delays for
the newly harvested South American soybean crop.
China made several new purchases
of US soybeans this week.
So demand for US soybeans has been
good. Normally at this stage of the South American soybean
harvest exporting countries would be taking delivery, but that
has not happened due to transportation delays and a threatened
strike by port workers.
So this has the possibility of
increasing demand for US soybeans in the near term.
The strong rally in soybean meal
also helped to lift soybean prices.
Wheat futures were boosted by good
export interest this week, but beneficial moisture from this
week's major winter snow storm for the plain states weighed on
wheat values.
The trading in the cash grain market was slow.
The soybean basis ended mostly
steady at the Central Illinois Processors, but improved slightly
at the Illinois River terminals.
It seems like the cash corn basis
did the exact opposite, with corn processors basis getting
stronger and river basis getting weaker.
Some corn processors had been
going along and had needs for corn filled, but this week things
changed and basis improved.
Some producers had given up hope
on selling 15.00 cash soybeans again, but this market gave them
yet another opportunity with this week's rally.
The Central Illinois Soybean
Processors cash bids were 68 to 70 cents higher ranging from
15.14-15.26, with basis steady to 2 cents lower at +26H to +38H.
The Central Illinois Corn
Processors cash bids were 1 cent higher ranging from 7.11-7.31,
with basis 5 cents higher ranging from +20H to +40H. At the
Illinois River terminals south of Peoria, cash corn bids ended 3
to 6 cents lower ranging from 7.05-7.06, with basis mixed at
+14H to +15H.
Cash soybean bids gained 71 to 74
cents to 15.10-15.13, with basis up 1 to 4 cents
ranging from +22H to +25H.
New crop wheat bids for delivery
in July 2013 ended 18 cents lower ranging from 7.06-7.08, with
basis down 2 cents at -22N to -20N.
[to top of second column] |
At the Illinois River terminals
north of Peoria, cash corn bids were down 5 to 6 cents at
6.99-7.03, with basis 1 to 2 cents lower at +8H to +12H.
Cash soybean bids were up 73 to 74
cents at 15.08-15.10, with basis 3 to 4 cents stronger ranging
from +20H to +22H.
New crop wheat bids for July 2013
delivery fell 7 to 12 cents to range from 7.12-7.13, with basis
up 4 to 9 cents at -16N to -15N.
At the St. Louis terminals cash
corn bids were 4 cents lower at 7.05-7.06, with soybeans gaining
74 to 77 cents ranging from 15.27-15.28.
Cash bids for Soft Red Winter
wheat fell 15
cents to 7.56-7.57 and cash sorghum bids were down 4 cents to
range from 6.95-6.96.
In northern and western Illinois, cash corn bids to producers at
country elevators were mixed cents at 6.84-7.07, with central
Illinois locations down 3 to 4 cents at 6.91-7.09 and in
southern Illinois bids were 2 to 4 cents lower ranging from
6.87-7.16.
Cash soybean bids in northern and
western locations were up 72 to 78 cents at 14.70-14.88 with
central Illinois bids 68 to 70 cents higher at 14.92-15.01 and
southern Illinois bids gained 69 to 74 cents at 14.97-15.13.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations lost 8 to 11 cents
to 7.16-7.40.
New crop wheat bids for June-July
delivery in southern Illinois were 18 to 26 cents lower
to range from 6.81-7.00.
___
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 |
6.85 - 7.11 |
14.48 - 14.53 |
|
|
WESTERN |
6.83 - 6.93 |
14.46 - 14.61 |
|
|
N. CENT. |
6.91 - 7.00 |
14.63 - 14.71 |
|
|
S. CENTRAL |
7.00 - 7.10 |
14.65 - 14.73 |
|
|
WABASH |
6.97 - 7.15 |
14.73 - 14.81 |
7.10 - 7.23 |
|
W.S. WEST |
6.86 - 6.94 |
14.70 - 14.80 |
7.24 - 7.30 |
|
L. EGYPT |
7.05 - 7.15 |
14.80 - 14.87 |
7.20 - 7.30 |
Central Illinois average price
Corn: 7.00 1/2 (+ 10 H)
Soybeans:
14.68 (+ 7 H)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
5.13 - 5.34 |
12.25 - 12.37 |
|
|
WESTERN |
5.14 - 5.25 |
12.22 - 12.35 |
|
|
N. CENT. |
5.14 - 5.29 |
12.24 - 12.35 |
|
|
S. CENTRAL |
5.19 - 5.32 |
12.32 - 12.42 |
|
|
WABASH |
5.23 - 5.32 |
12.32 - 12.48 |
6.92 - 6.96 |
|
W.S. WEST |
5.24 - 5.29 |
12.42 - 12.53 |
6.78 - 6.88 |
|
L. EGYPT |
5.28 - 5.38 |
12.35 - 12.48 |
6.77 - 6.92 |
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
2/14/2013 |
2/7/2013 |
| |
Price--Basis |
Price--Basis |
|
Corn |
7.00 +9H |
7.03
1/2 +9H |
|
Soybeans |
14.96 1/2 +9H |
14.27 1/2 +9 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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