[June 15, 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 mostly higher
and wheat lower.
Nearby corn and soybean futures
ended higher on technical buying at the Board of Trade, with
strong cash basis levels helping to support both corn and
soybean futures.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were 13 to 16 cents higher at 6.87-6.99.
Soybean bids were 6 to 11 cents higher at 15.06-15.21.
In Central Illinois country grain dealers quoted shelled corn
bids were 11 to 12 cents higher at 6.77-6.95. Soybean bids were
4 to 10 cents higher at 15.30-15.49.
In the Southern part of the state, shelled corn bids were 12 to
13 cents higher at 6.81-7.05. Soybean bids were 7 cents higher
at 15.30-15.65. Wheat bids were 2 to 5 cents lower at 6.61-6.84.
Illinois grains ended lower this week at the Board of Trade.
Weather didn't seem to be as
much of a focus as the USDA's report this week. There was
progress with corn and soybean planting last week.
The US corn crop was now 95%
planted, compared to 91% last week and the five year average of
98%. The US soybean crop was now 71% planted, compared to 57%
last week and the five year average of 84% complete.
Traders were looking for smaller
numbers this month from the USDA. There was a lower production
figure for corn, but a number still within the ranges of the
average estimates. For the old crop corn, the carryout forecast
was 769 million bushels, compared to 759 million last month.
The new crop corn carryout
forecast was lower than last month estimated at 1.949 billion
bushels, compared to 2.004 billion last month.
The old crop carryout for soybeans
the same as last month holding at 125 million bushels, with the
new crop forecast also holding the same as last month at 265
million bushels.
This week's Illinois Weather and Crops report, released by the
Illinois Field office of the
National Ag Statistics Service, indicated that getting those
final acres in will be a battle with nature.
As of June 9th, Illinois farmers
had planted 96% of their corn crop, compared to 91%
last week and 98% for the five year average. Illinois producers
had planted 62% of their
soybean crop, compared to 49% last week and 80% for the five
year average.
The east region of the state was
now 100% complete with corn planting, with the other regions
ranging from 92-98% complete.
The west southwest was noticeably
behind in soybean planting with 31 % complete. The balance of
the state ranged from 44-88% planted, with the 88% done in the
east
region.
The Illinois wheat crop was
getting closer to maturity with 98% of the crop now headed.
There was 39% of the crop now turning yellow, compared to 58%
for the five year average.
Harvesting the first cutting of
hay was still running behind schedule, with the threat of
showers making producers think twice about mowing hay. This week
49% of the first cutting of alfalfa had been harvested, compared
to 98% one year ago and 68% for the five year average.
The trading in the cash grain market was slow this week. Cash
basis levels for both corn and soybeans for the most part ended
higher this week.
The cash corn basis was extremely
competitive between the corn processors and the river terminals.
The Central Illinois Soybean
Processors cash bids ended 8 to 28 cents lower ranging from
15.42-15.70, with basis mixed ranging from +32N to +60N.
At the Central Illinois Corn
Processors cash bids were down 15 to 20 cents ranging from
6.83-6.98, with basis steady to 5 cents higher at +40N to +55N.
At the Illinois River terminals
south of Peoria, cash corn bids were 15 to 20 cents lower
ranging from 6.88-7.03, with basis steady to 5 cents higher
ranging from +45N to +60N. Cash soybean bids were down 6 to 7
cents with bids ranging 15.41-15.42, with basis 10 to 11 cents
higher ranging from +31N to +32N. Wheat bids were 14 to 16 cents
lower ranging from 6.81-6.86, with basis down 2 to 4 cents at
-4N to +1N.
At the Illinois River terminals
north of Peoria, cash corn bids dropped 13 to 15 cents at
6.96-7.02, with basis 5 to 7 cents higher at +53N to +59N. Cash
soybean bids fell 10 to 12 cents to range from 15.32-15.36, with
basis 5 to 7 cents stronger ranging from +22N to +26N. Wheat
bids were 11 to 16 cents lower to range from 6.78-6.85, with
basis down 1 to 4 cents at -7N to option N.
At the St. Louis terminals cash
corn bids
closed steady to 29 cents lower ranging from 6.88-7.06, with
soybeans down 16 to 26 cents ranging from 15.39-15.55.
Cash bids for Soft Red Winter
wheat were 13 cents lower at 7.04-7.05 and cash sorghum bids
were 20 cent lower at 6.62-6.63.
In northern and western Illinois, cash corn bids to producers at
country elevators were down 16 to 20 cents at 6.71-6.86, with
central Illinois locations 19 to 20 cents lower at 6.66-6.83 and
in southern Illinois bids dropped 19 to 20 cents ranging from
6.69-6.92.
Cash soybean bids in northern and
western locations were 17 to 22 cents lower at 14.95-15.15, with
central Illinois bids falling 17 to 23 cents at 15.20-15.45 and
southern Illinois bids dropped 17 cents at 15.23-15.58.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations ended 12 to 14 cents
lower ranging from 6.63-6.89.
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Commercial grain prices paid farmers
by Interior Illinois Country Elevators after 2.00 p.m. Friday are listed below in dollars per bushel:
