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Illinois country grain prices were
higher on Friday afternoon, with soybean futures sharply higher.
Stronger soybean meal values helped to lift soybean prices.
The Chinese purchase of US wheat
supported
higher wheat values.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were 2 to 3 cents higher at 6.76-6.89.
Soybean bids were 26 to 32 cents
higher at 15.59-15.72.
In Central Illinois country grain dealers quoted shelled corn
bids were 4 to 7 cents higher at 6.74-6.90.
Soybean bids were 15 to 21 cents
higher at 15.73-15.91.
In the Southern part of the state, shelled corn bids were mostly
3 cents higher at 6.84-6.94.
Soybean bids were 22 to 23 cents
higher at 15.80-16.21. Wheat bids were 3 cents higher at
6.44-6.57.
Illinois grains ended lower this
week at the Board of Trade, with soybeans slightly lower and
corn and wheat sharply lower.
Weather and the weather forecast
was a factor in the price direction this week at the Board Of
Trade.
The forecast was expected to
change from hot and dry, to warm and wet and this pushed prices
lower.
The Weekly Crop Condition report,
released by the USDA, indicated that the condition of both the
US corn and soybean crops had dropped 2% from the prior week.
Conditions had been
improving, so this report helped to support prices on Tuesday.
Export sales also were somewhat of a surprise to traders.
Weekly export sales for corn were
over expectations at over 1.74 million tonnes, with China a
major buyer of new crop corn.
While wheat sales were slightly
disappointing, it was interesting to see China was also a major
buyer this week of US wheat.
This week's Illinois Weather and Crops report, released by the
Illinois Field office of the National Ag Statistics Service,
showed the Illinois corn crop continued to improve from last
week.
As of July 14th the Illinois corn
crop placed 69% in the good to excellent category, up 1% from
one week ago.
The Illinois soybean crop was
unchanged from last week at 73% good to excellent category.
Topsoil moisture was 75% adequate,
9% surplus and 16% short, with the western section of the state
placing 56% in the short category.
So the western side of the state
could definitely use a rain, as the balance of the state placed
2-18% in that category.
Corn in the silk stage was behind
last year and the five year average.
This week there was 21% of the
state's corn crop the silk stage, compared to 91% last year and
50% for the five year average.
There was 32% of the state's
soybean crop blooming, compared to 66% last year and 38% for the
five year average.
So development of both crops still
was behind the average year.
Wheat harvest had reached northern
Illinois and was 88% complete, compared to 68% last week and 92%
for the five year average.
The state's hay producers were
also behind with harvest of the 2nd cutting of alfalfa.
They had completed 54% of the 2nd
cutting,
compared to 97% last year and 74% for the five year average.
The trading in the cash grain market was slow to moderate this
week.
Cash basis continued to adjust
from the July futures expiring and going off the Board last
Friday.
In most cases basis was weaker
than last week, but it did strengthen at the end of the week.
The wheat basis was the only one
that finished higher for the week.
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column] |
While basis weakened in soybean
meal, futures prices continued to go up and offers continued to
rise.
The range on Thursday was
555.40-564.40 per ton making some of the highest meal prices
ever.
The Central Illinois Soybean
Processors cash bids dropped 33 to 43 cents ranging from
15.69-15.94, with basis down 30 to 40 cents ranging from +100Q
to +125Q.
At the Central Illinois Corn
Processors cash bids were 25 cents lower ranging from 6.86-7.16,
with basis 5 cents lower at +145U to +175U.
At the Illinois River terminals
south of Peoria, cash corn bids were down 29 to 34 cents ranging
from 6.80-6.94, with basis down 9 to 14 cents ranging from +139U
to +153U.
Cash soybean bids were down 19 to
26 cents with bids ranging 15.63-15.75, with basis dropping 16
to 23 cents ranging from +94Q to +106Q.
Wheat bids were 12 to 18 cents
lower ranging from 6.54-6.55, with basis up 5 to 11 cents at -6U
to -5U.
At the Illinois River terminals
north of Peoria, cash corn bids lost 22 to 24 cents at
6.81-7.00, with basis at +140Q to +159Q.
Cash soybean bids lost 30 to 32
cents to range from 15.71-15.73, with basis ranging from +102Q
to +104Q.
Wheat bids were 18 to 19 cents
lower ranging from 6.56-6.59, with basis gaining 4 to 5 cents at
-4U to -1U.
At the St. Louis terminals cash
corn bids closed mostly 26 cents lower ranging from 6.95-6.96,
with soybeans down 28 to 38 cents ranging from 15.62-15.84.
Cash bids for Soft Red Winter
wheat were 18 cents lower at 6.74-6.75 and cash sorghum bids
were 23 cents higher at 7.02-7.03.
In northern and western Illinois, cash corn bids to producers at
country elevators were down 10 to 15 at 6.74-6.86, with central
Illinois locations 29 to 30 cents lower at 6.67-6.86 and in
southern Illinois bids lost 4 to 15 cents ranging from
6.75-6.91.
Cash soybean bids in northern and
western locations were down 38 to 42 cents at 15.28-15.46, with
central Illinois bids 25 to 43 cents lower at 15.58-15.70 and
southern Illinois bids were down 36 to 43 cents ranging from
15.57-15.99.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois lost 17 to 19 cents ranging
from 6.41-6.54.
___
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 |
6.76 - 6.89 |
15.59 - 15.64 |
|
|
WESTERN |
6.77 - 6.89 |
15.63 - 15.72 |
|
|
N. CENT. |
6.74 - 6.90 |
15.73 - 15.84 |
|
|
S. CENTRAL |
6.77 - 6.88 |
15.80 - 15.91 |
|
|
WABASH |
6.84 - 6.94 |
16.01 - 16.11 |
6.44 - 6.50 |
|
W.S. WEST |
6.88 - 6.94 |
15.80 - 15.93 |
6.53 - 6.57 |
|
L. EGYPT |
6.84 - 6.94 |
16.11 - 16.21 |
6.45 - 6.53 |
Central Illinois average price
Corn: 6.82 (+138 U)
Soybeans:
15.82 (+ 91 Q)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
4.71 - 4.86 |
12.37 - 12.44 |
|
|
WESTERN |
4.67 - 4.78 |
12.36 - 12.49 |
|
|
N. CENT. |
4.85 - 4.90 |
12.44 - 12.54 |
|
|
S. CENTRAL |
4.78 - 4.88 |
12.56 - 12.64 |
|
|
WABASH |
4.75 - 4.83 |
12.48 - 12.64 |
|
|
W.S. WEST |
4.79 - 4.91 |
12.66 - 12.69 |
|
|
L. EGYPT |
4.78 - 4.87 |
12.54 - 12.64 |
|
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
7/11/2013 |
7/11/2013 |
| |
Price--Basis |
Price--Basis |
|
Corn |
6.76 1/2 +135 1/2U |
7.06 +145U |
|
Soybeans |
15.64 + 95Q |
15.98 +126Q |
Annual Comparison
|
|
June
2013 |
July
2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
6.94
+32N |
7.85
+251/2 U |
|
Soybeans |
15.49 +24 1/2 N |
16.60 -23Q |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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