[July 27, 2013]SPRINGFIELD
-- This is Friday's report of the grain prices and trends, prepared
by the USDA and the Illinois Department of Agriculture.
(Copy)
Illinois country grain prices were
mixed on Friday afternoon, with wheat slightly higher and corn
and soybeans slightly lower.
Corn and soybean futures were
weakened by the beneficial weather in the forecast for the
cornbelt.
Soybean futures did get a boost
from the announcement of the sale of 220,000 tonnes of US
soybeans to China.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were mixed at 5.45-5.62.
Soybean bids were mixed at 12 to
17 cents lower at 13.18-13.37.
In Central Illinois country grain dealers quoted shelled corn
bids were mixed at 4 to 8 cents lower at 5.75-6.15.
Soybean bids were 6 to 9 cents
lower at 13.51-13.74.
In the Southern part of the state, shelled corn bids were 12 to
14 cents lower at 5.83-6.22.
Soybean bids were 5 to 12 cents
higher at 13.51-13.90. Wheat bids were 1 to 6 cents lower at
6.30-6.54.
Illinois grains ended lower this
week at the Board of Trade, with soybeans and corn sharply
lower.
Soybean futures were definitely
the weakest
grain this week and it eventually pulled corn lower at the end
of the week.
Sharply lower values for soybean
meal, technical trading at the Board of Trade and speculator
selling pulled soybean prices lower.
The weather forecast was also
slightly bearish this week, with cooler temperatures being
beneficial for crops.
This week's Illinois Weather and Crops report, released by the
Illinois Field office of the National Ag Statistics Service,
showed a decline in crop
conditions.
As of July 21st, the Illinois corn
crop placed 65% in the good to excellent category, down 4% from
one week ago.
The Illinois soybean crop was 1%
lower from last week at 72% good to excellent category.
Topsoil moisture was 64% adequate,
9% surplus and 25% short, with the western section still needing
moisture placing 67% in the short category.
This week there was 64% of the
state's corn crop the silk stage, compared to 97% last year and
71% for the five year average.
There was 50% of the state's
soybean crop blooming, compared to 82% last year and 56% for the
five year average.
The trading in the cash grain market was moderate this week.
While grain movement wasn't
overwhelming, it was enough to more than satisfy processors and
river terminal needs.
Those farmers that were cleaning
out bins before harvest and others that just decided to sell
early this week beat the steep drop in futures prices and cash
basis.
First, the CIF basis at the gulf
points weakened Monday afternoon and soon spread up to the river
terminals and eventually made it to the processors.
Double digit losses in basis for
both corn and soybean were seen.
Triple digit losses were
experienced in both corn and soybean prices for the week.
The Central Illinois Soybean
Processors cash bids dropped 1.84 to 1.89 ranging from
13.85-14.05, with basis down 70 to 75 cents ranging from +30Q to
+50Q.
At the Central Illinois Corn
Processors cash bids were 90 cents lower ranging from 5.96-6.26,
with basis 45 cents lower at +100U to +130U.
At the Illinois River terminals
south of Peoria, cash corn bids were down 1.03-1.04 ranging from
5.76-5.91, with basis down 58 to 59 cents ranging from +80U to
+95U.
Cash soybean bids were down
1.99-2.05 with bids ranging 13.64-13.70, with basis dropping 85
to 91 cents ranging from +9Q to +15Q.
Wheat bids were 11 to 17 cents
lower ranging from 6.37-6.44, with basis steady to 6 cents lower
at -12U to -5U.
At the Illinois River terminals
north of Peoria, cash corn bids lost 1.12-1.14 at 5.69-5.86,
with basis down 67 to 68 cents at +73Q to +90Q.
Cash soybean bids lost 2.14-2.18
to range from 13.53-13.59, with basis dropping 1.00 to 1.04
ranging from -2Q to +4Q.
Wheat bids were 10 to 13 cents
lower ranging from 6.43-6.49, with basis mixed at -6U to option
U.
At the St. Louis terminals cash
corn bids closed .95 to 1.01 lower ranging from 5.94-6.01, with
soybeans down 1.91 to 1.99 ranging from 13.71-13.85.
Cash bids for Soft Red Winter
wheat were 7 cents lower at 6.67-6.68 and cash sorghum bids were
48 cents lower at 6.54-6.55.
In northern and western Illinois, cash corn bids to producers at
country elevators were down .50 to 1.18 at 5.56-6.36, with
central Illinois locations 50 to 79 cents lower at 5.88-6.36 and
in southern Illinois bids lost 55 to 80 cents ranging from
5.95-6.36.
Cash soybean bids in northern and
western locations were down 1.78 to 1.98 at 13.30-13.68, with
central Illinois bids 1.87 to 2.01 lower at 13.57-13.83 and
southern Illinois bids were down 2.14 to 2.18 ranging from
13.39-13.85.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois lost 6 to 12 cents ranging
from 6.29-6.48.
___
Commercial grain prices paid farmers
by Interior Illinois Country Elevators after 2.00 p.m. Friday are listed below in dollars per bushel:
(Copy)
