[May 04, 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 lower. Corn and soybean values were
both supported
by a strong cash market and firm basis levels.
In Northern and Western Illinois country grain dealers quoted
shelled corn
bids were mostly 1 cent lower at 6.83-6.94. Soybean bids were 12
to 14 cents
higher at 14.35-14.48.
In Central Illinois country grain dealers quoted shelled corn
bids were 1 to 3
cents lower at 6.82-6.95. Soybean bids were mostly 13 to 15
cents higher at
14.57-14.77.
In the Southern part of the state, shelled corn bids were mixed
at 6.75-7.01.
Soybean bids were 11 to 13 cents higher at 14.54-14.72. Wheat
bids were 8
cents lower at 7.01-7.24.
Illinois grains ended moderately to sharply higher this week at
the Board of Trade.
Traders
came into the week with the updated weather forecast and could
only see another planting
delay for farmers in the cornbelt. It was the first time corn
closed limit up for a while, while it
also brought wheat and soybeans with it. Other factors
supporting higher prices were strong
cash markets for both corn and soybeans. The condition of the US
wheat crop continues to be
low and also the planting of Spring wheat is behind normal
averages. If you could say in one
word what was the major focus of the market this week, it would
be weather.
The trading in the cash grain market was slow this week, but not
as slow as some weeks. The
limit up rally in the corn market on Monday was good enough for
a few producers with old crop
corn in the bin to make some additional sales. The confusion
with different basis months
continued this week. The processors were still using the July
and terminals still on the May. In
that respect, the cash basis improved at the processors and
weakened at the river terminals.
When you look closer at cash corn values, the river terminals
are very competitive with the
processors in their offers. Until the spread between the May and
July futures gets smaller or
until the May futures go off the board, pay attention to basis
bids. Either way you look at it, our
cash bids are still higher than one year ago.
At the Central
Illinois Soybean Processors cash
bids gained 15 to 20 cents ranging from 14.87-14.97, with basis
up 15 to 20 cents ranging from
+115N to +125N.
At the Central Illinois Corn Processors cash
bids were up 38 to 43 cents
ranging from 7.02-7.12, with basis steady to 5 cents higher at
+45N to +50N.
At the Illinois
River terminals south of Peoria, cash corn bids ended 43 to 47
cents higher ranging from 6.96-7.07, with basis down 5 to 9 cents to -1K to +10K. Cash soybean
bids were mixed with bids
ranging from 14.56-14.64, with basis 15 to 24 cents lower
ranging from +15K to +23K.
New
crop wheat bids for delivery in July 2013 ended 12 to 16 cents
higher ranging from 7.18-7.23,
with basis 8 to 12 cents weaker at -10N to -5N.
At the Illinois
River terminals north of Peoria,
cash corn bids were up 46 to 52 cents at 6.96-7.05, with basis
steady to 6 cents lower to range
from -1K to +8K. Cash soybean bids dropped 1 to 2 cents to
14.45-14.56, with basis 19 to 20
cents lower ranging from +4K to +15K. New crop wheat bids for
July 2013 delivery ended 13 to
18 cents higher to range from 7.21-7.28, with basis 6 to 11
cents lower at -7N to option N.
At
the St. Louis terminals, cash corn bids closed 31 to 32 cents
higher ranging from 6.80-6.82,
with soybeans up 8 cents ranging from 14.71-14.72. Cash bids for
Soft Red Winter wheat were
up 16 cents to 7.41-7.42 and cash sorghum bids were 12 cents
higher at 6.41-6.42.
In northern and western Illinois, cash corn bids to producers at
country elevators were up 44
cents at 6.84-7.00, with central Illinois locations up 35 to 41
cents at 6.83-6.92, and in southern
Illinois bids were 33 to 40 cents higher ranging from 6.73-7.02.
Cash soybean bids in northern
and western locations were mixed at 14.21-14.36, with central
Illinois bids steady to 10 cents
lower at 14.32-14.57 and southern Illinois bids were mixed at
14.43-14.59.
Cash wheat bids for
Soft Red Winter wheat in southern Illinois locations ended 13 to
20 cents higher ranging from
7.09-7.32.
New crop wheat bids for June-July delivery in
southern Illinois were up 20 to 23 cents ranging from 6.97-7.22.
Commercial grain prices paid farmers
by Interior Illinois Country Elevators after 2.00 p.m. Friday are listed below in dollars per bushel:
