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Illinois country grain prices were
higher on Friday afternoon.
Corn and soybean futures were
supported by planting delays and the forecast for more rainfall
for the cornbelt over the weekend.
Soybean values were also boosted
by strong soybean meal prices.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were 6 to 9 cents higher at 6.92-7.05.
Soybean bids were at 14 to 15
cents higher at 15.05-15.20.
In Central Illinois country grain dealers quoted shelled corn
bids were 6 cents higher at 6.88-7.02.
Soybean bids were 11 to 14 cents
higher
at 15.35-15.53.
In the Southern part of the state, shelled corn bids were mostly
6 to 8 cents higher at 6.82-7.10.
Soybean bids were 14 cents higher
at 15.30-15.65.
Wheat bids were mostly 6 cents
higher at 6.85-7.17.
Illinois grains ended slightly
lower this week at the Board of Trade.
The holiday shortened week mainly
focused on technical trading and the weather.
The weather was the problem in
many cases as too much rain has slowed corn planting progress.
In many cases in the cornbelt too
much rain has caused flooding concerns on fields as well as
major river systems.
Heavy rainfall in parts of
Minnesota, Iowa, Illinois and Missouri has been responsible for
stopping corn and soybean planting, localized flooding, and the
river stages moving up.
Wheat values were weakened by news
Japan had suspended U.S. wheat imports due to
unapproved genetically engineered wheat being found on a farm in
Oregon.
This week's Illinois Weather and Crops report, released by the
Illinois Field office of the National Ag Statistics Service,
noted rain slowed farmers planting pace for both corn and
soybeans.
As of May 26th, Illinois farmers
had planted 89% of their corn crop, compared to 74% last week
and 89% for the five year average. Illinois producers had
planted 40% of their soybean crop, compared to 19% last week and
53% for the five year average.
The maturity of the Illinois wheat
crop was trying catch up to the five year average. The state's
crop was now 82% headed, compared to 49% last week and 86% for
the five year average.
The condition wheat crop in
Illinois dropped slightly this week by placing 72% in the good
to excellent category, with 25% fair and only 3% in the very
poor to poor range.
The trading in the cash grain market remained slow this week and
prices did end slightly lower.
Cash basis levels still ended
lower, but not sharply lower like last week. With the heavy
rainfall in the cornbelt this week, the river levels are
predicted to rise and cause trouble for river terminal
operators.
This will be the second time that
river terminals along the Illinois River have prepared for high
water levels.
The Central Illinois Soybean
Processors cash bids ended mixed ranging from 15.46-15.62, with
basis up 1 to 5 cents ranging from +50N to +66N.
At the Central Illinois Corn
Processors cash bids were 8 to 10 cents lower ranging from
7.02-7.14, with basis steady to 2 cents lower at +48N to +60N.
At the Illinois River terminals
south of Peoria, cash corn bids were down 11 to 15 cents ranging
from 6.99-7.02, with basis 3 to 7 cents lower ranging from +45N
to +48N.
Cash soybean bids were 7 to 10
cents lower with bids ranging 15.22-15.29, with basis down 4 to
7 cents ranging from +26N to +33N.
[to top of second column] |
New crop wheat bids for delivery
in July 2013 were mixed ranging from 6.99-7.02, with basis 3 to
7 cents lower at option N to +3N.
At the Illinois River terminals
north of Peoria, cash corn bids fell 9 to 13 cents at 6.94-7.05,
with basis 1 to 5 cents lower at +40N to +51N.
Cash soybean bids lost 3 to 7
cents to range from 15.19-15.25, with basis steady to 4 cents
lower ranging from +23N to +29N.
New crop wheat bids for July 2013
delivery ended 8 to 9 cents lower to range from 6.95-6.99, with
basis 4 to 5 cents lower at -4N to option N.
At the St. Louis terminals cash
corn bids closed 8 cents lower ranging from 7.03-7.04, with
soybeans up 1 cent ranging from 15.40-15.41.
Cash bids for Soft Red Winter
wheat were 6 cents lower at 7.23-7.24 and cash sorghum bids were
8 cents lower at 6.83-6.84.
In northern and western Illinois, cash corn bids to producers at
country elevators were down 5 to 12 cents at 6.86-6.96, with
central Illinois locations 6 to 7 cents lower at 6.82-6.96 and
in southern Illinois bids were mixed ranging from 6.69-7.02.
Cash soybean bids in northern and
western locations were 10 to 18 cents lower at 14.90-15.06, with
central Illinois bids steady to 8 cents lower at 15.21-15.42 and
southern Illinois bids were down 8 to 16 cents at 15.16-15.51.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations ended 1 to 5 cents
lower ranging from 6.79-7.11.
New crop wheat bids for June-July
delivery in southern Illinois were up 1 to 6 cents ranging from
6.79-7.02.
___
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 |
6.94 - 7.05 |
15.05 - 15.14 |
|
|
WESTERN |
6.92 - 7.01 |
15.16 - 15.20 |
|
|
N. CENT. |
6.88 - 7.02 |
15.35 - 15.45 |
|
|
S. CENTRAL |
6.90 - 6.98 |
15.36 - 15.53 |
|
|
WABASH |
6.90 - 7.03 |
15.50 - 15.60 |
6.85 - 6.90 |
|
W.S. WEST |
6.82 - 6.95 |
15.30 - 15.38 |
7.05 - 7.17 |
|
L. EGYPT |
7.02 - 7.10 |
15.55 - 15.65 |
6.87 - 6.91 |
Central Illinois average price
Corn: 6.95 (+33 N)
Soybeans:
15.44 (+34 N)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
5.35 - 5.48 |
12.66 - 12.74 |
|
|
WESTERN |
5.30 - 5.38 |
12.66 - 12.79 |
|
|
N. CENT. |
5.34 - 5.47 |
12.74 - 12.92 |
|
|
S. CENTRAL |
5.40 - 5.53 |
12.84 - 12.91 |
|
|
WABASH |
5.40 - 5.47 |
12.75 - 12.84 |
6.85 - 6.88 |
|
W.S. WEST |
5.34 - 5.50 |
12.85 - 12.93 |
6.94 - 7.09 |
|
L. EGYPT |
5.44 - 5.52 |
12.79 - 12.84 |
6.86 - 6.88 |
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
5/30/2013 |
5/23/2013 |
| |
Price--Basis |
Price--Basis |
|
Corn |
6.89 +35N |
6.951/2 +331/2 N |
|
Soybeans |
15.311/2 +36N |
15.351/2 +36N |
Annual Comparison
|
|
April 2013 |
May
2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
6.57
+ 8K |
6.27 +26K |
|
Soybeans |
14.30 +20 1/2K |
14.04 -14K |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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