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Illinois grain prices in country elevators

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[June 08, 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 corn and soybeans higher and wheat ending lower.

Technical trading at the Board of Trade kept corn and soybeans higher.

Soybean prices were also supported by strong soybean meal values.

Wheat prices were pressured by slow export demand.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were 2 cents higher at 6.93-7.04.

Soybean bids were mixed at 15.10-15.32.

In Central Illinois country grain dealers quoted shelled corn bids were 2 to 3 cents higher at 6.87-7.06.

Soybean bids were 1 to 3 cents higher at 15.46-15.63.

In the Southern part of the state, shelled corn bids were 3 cents higher at 6.92-7.14.

Soybean bids were 1 cent higher at 15.41-15.76. Wheat bids were 1 to 2 cents lower at 6.75-7.00.

Illinois grains ended mixed this week at the Board of Trade, with corn and soybeans higher and wheat slightly lower.

The markets continued to focus on weather and planting delays for corn and soybeans.

Traders still thought about Japan's reaction to finding the genetically modified wheat in Oregon.

Weekly export sales figures were under expectations this week for corn, soybeans, and wheat.

This had a negation influence with prices on Thursday.

This week's Illinois Weather and Crops report, released by the Illinois Field office of the
National Ag Statistics Service, indicated rain slowed planting again this week and farmers
made limited progress with corn planting.

As of June 2nd, Illinois farmers had planted 91% of their corn crop, compared to 89% last week and 95% for the five year average. Illinois producers had planted 49% of their soybean crop, compared to 40% last week and 69% for the five year average.

Two regions in the state were noticeably farther behind with soybean planting than the other regions in the state.

The west southwest region had only planted 17% of their soybean crop, with the west region at 27%.

The balance of the state ranged from 40-72% planted.

The Illinois wheat crop made up some ground this week in the maturity race.

The state's crop was now 93% headed, compared to 82% last week and 94% for the five year average.

The condition of the wheat crop in Illinois dropped again this week by placing 66% in the good to excellent category, down 6 per cent from one week ago, with 26% fair and only 8% in the very poor to poor range.

Persistent rainfall this spring has hay baling also running behind schedule.

This week only 32% of the first cutting of alfalfa had been harvested, compared to 95% one year ago and 57% for the five year average.

The trading in the cash grain market was slow to moderate this week.

Cash basis levels for both corn and soybeans continued to weaken.

That was true except at the Illinois River terminals, where the cash corn basis strengthened at the end and pushed it higher for the week.

The river system was improving as many rivers have crested this week. While water levels are still very high, at least they are more manageable.

The Central Illinois Soybean Processors cash bids ended 17 to 25 cents higher ranging from 15.70-15.78, with basis down 7 to 15 cents ranging from +43N to +51N.

At the Central Illinois Corn Processors cash bids were mixed ranging from 7.03-7.13, with basis down 8 to 10 cents at +40N to +50N.

At the Illinois River terminals south of Peoria, cash corn bids were up 9 to 16 cents ranging from 7.08-7.18, with basis steady to 7 cents higher ranging from +45N to +55N.

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Cash soybean bids were 21 to 26 cents higher with bids ranging 15.47-15.49, with basis 6 to 11 cents ranging from +20N to +22N.

Wheat bids were mixed ranging from 6.95-7.02, with basis mixed at -2N to +5N.

At the Illinois River terminals north of Peoria, cash corn bids gained 12 to 15 cents at
7.09-7.17, with basis 3 to 6 cents higher at +46N to +54N.

Cash soybean bids advanced 24 cents to range from 15.42-15.48, with basis 8 cents lower ranging from +15N to +21N.

Wheat bids were steady to 2 cents lower to range from 6.94-6.96, with basis mixed at -3N to -1N.

At the St. Louis terminals cash corn bids closed mixed ranging from 6.88-7.35, with soybeans up 25 to 30 cents ranging from 15.65-15.71.

Cash bids for Soft Red Winter wheat were 6 cents lower at 7.17-7.18 and cash sorghum bids were 1 cent lower at 6.82-6.83.

In northern and western Illinois, cash corn bids to producers at country elevators were up 5 to 6 cents at 6.91-7.02, with central Illinois locations 3 to 7 cents higher at 6.85-7.03 and in southern Illinois bids mostly 9 cents stronger ranging from 6.89-7.11.

Cash soybean bids in northern and western locations were 26 to 27 cents higher at 15.17-15.32, with central Illinois bids up 20 to 22 cents at 15.43-15.62 and southern Illinois bids gained 24 cents at 15.40-15.75.

 Cash wheat bids for Soft Red Winter wheat in southern Illinois locations ended 2 to 10 cents lower ranging from 6.77-7.01.

___

Commercial grain prices paid farmers by Interior Illinois Country Elevators after 2.00 p.m. XXX are listed below in dollars per bushel:

AREA 

US 2

CORN

US 1

SOYBEANS

 US 2

SOFT

WHEAT 

NORTHERN

6.93 - 7.04 15.10 - 15.28  

WESTERN 

 6.94 - 7.04 15.18 - 15.32  

N. CENT.

6.94 - 7.06 15.50 - 15.57  

S. CENTRAL

6.87 - 7.00 15.46 - 15.63  

WABASH 

 6.97 - 7.11 15.64 - 15.68  6.75 - 6.81

W.S. WEST

6.92 - 7.08 15.41 - 15.51 6.92 - 7.00

L. EGYPT

7.06 - 7.14 15.68 - 15.76 6.78 - 6.90

Central Illinois average price

Corn:  6.96 1/2 (+30 N)
Soybeans:
15.54 1/2 (+26 N)


CONTRACT BIDS FOR NEW CROP 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

5.26 - 5.33 12.91 - 13.00  

WESTERN 

5.19 - 5.26 12.92 - 13.05  

N. CENT.

5.25 - 5.38 12.98 - 13.18  

S. CENTRAL

5.29 - 5.42 13.08 - 13.15  

WABASH 

5.34 - 5.40 13.05 - 13.10  

W.S. WEST

5.32 - 5.46 13.12 - 13.24  

L. EGYPT

5.36 - 5.44 13.05 - 13.18  

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

6/6/2013

5/30/2013

  Price--Basis Price--Basis

Corn

6.94 +31N

6.89 +35N

Soybeans

15.52 1/2 +25N

15.31 1/2 +36N

Annual Comparison

 

May 2013

June 2012

  Price--Basis Price--Basis

Corn

6.83 +31N

6.30 +27N

Soybeans

15.10 +72N

14.15 - 7N

[Text copied from USDA-IL Dept of Ag Market News, Springfield]

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