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Illinois country grain prices were
lower on Friday afternoon. Soybeans ended lower despite the
announcement of the third sale of the week of US soybeans to
China. For the week, China has purchased 445,000 tonnes of US
soybeans. Corn futures were pushed lower by fund selling at the
Board of Trade.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 8 to 9 cents lower at 6.10-6.25. Soybean bids
traded 4 to 5 cents lower at 14.08-14.27.
In Central Illinois country grain dealers quoted shelled corn
bids were 8 to 10 cents lower at 6.22-6.36. Soybean bids were 4
to 5 cents lower at 14.13-14.25.
In the Southern part of the state, shelled corn bids were 8 to 9
cents lower at 6.33-6.53. Soybean bids were 4 cents lower at
14.23-14.39. Wheat bids were 13 to 16 cents lower at 6.05-6.24.
Illinois grains- Grain futures ended mixed for the week, with
soybeans and wheat higher and corn lower.
The reaction to the USDA's Supply
Demand report and export news helped to move soybean values up.
The new Supply Demand estimates
for the US soybean supply were down 25 million bushels from last
month's report at 250 million bushels and world estimates were
also lower than last month at 55.52 million metric tonnes.
The forecast for South American
production also dropped in Tuesday's report, with Brazil's going
from 68.5 mmt's to 66 mmt's this month.
The forecast for Argentina's
soybean crop went from 46.5 mmt last month to 45 mmt in
Tuesday's report.
Also supporting soybean futures
were several export sales of US soybeans, with a couple of those
coming from China.
Tuesday's Supply Demand estimates
weighed on corn futures this week. Traders had
expected a drop in the US carryout forecast, but the USDA's
estimate was unchanged from last month at 801 million bushels.
In the Illinois Weather and Crops update, the USDA's NASS
Illinois Field Office, estimated that Illinois farmers had
planted 17% of the state's corn crop, compared to 5% last week
and 3% last year.
It was the southern areas of the
state that was out in front of the planting race. The
southern areas had planted 23-40% of their crop, with the
northern areas ranging from 1-18%. Also in the southern areas,
there was 3-6% of the corn emerged.
Also in this week's report, the
state had officially started soybean planting with 1% of the
crop in the ground.
The Illinois wheat crop had a gain
of 6% in the good to excellent category, with 84% of the crop in
the good to excellent category, with 14% fair and only 2% very
poor to poor. Like many of the plants this Spring, the
wheat crop was also ahead of schedule. There was already 8% of
the state's crop in the headed category, compared to nothing for
last year or the five year average.
Many producers know that we could
use some rainfall across the state. In the state, there were 3%
of the soils in the surplus category, with 51% adequate, 40%
short and 6% very short.
The trading in the cash grain market was slow to moderate. The
rally in the soybean market has been able to keep a reasonable
supply of soybeans coming to the market, but it's a little
different or corn.
Corn values have dropped this week
and farmers in Illinois, Indiana, Iowa, and Ohio
are busy with fieldwork and planting and really don't care about
moving cash grain at these price levels.
This has led to improvement in the
corn basis at many grain terminals and corn processing plants.
At the Central Illinois Soybean
Processors cash bids ended 7 cents higher at 14.41-14.51, with
basis steady at option K to +10K.
The Central Illinois Corn
Processors cash bids were 16 to 21 cents lower with bids ranging
from 6.52-6.63, with basis steady to 5 cents stronger at +15K to
+26K.
At the Illinois River terminals
south of Peoria, cash corn bids ended 17 to 18 cents lower
ranging from 6.47-6.53, with basis up 3 to 4 cents at +10K to
+16K.
Cash soybean bids gained 5 cents
at 14.43-14.47, with basis 2 cents weaker ranging from +2K to
+6K.
New crop corn bids for October
delivery were down 4 to 7 cents to range from 5.14-5.24, with
basis steady to 3 cent lower at -32Z to -22Z.
New crop soybean bids dropped 5 to
8 cents to 13.43-13.52, with basis 1 to 4 cents higher ranging
from -29X to -20X.
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New crop wheat bids for July 2012
delivery were mixed ranging from 6.27-6.34, with basis mixed
ranging from -17N to -10N.
At the Illinois River terminals
north of Peoria, cash corn bids fell 16 cents at 6.48-6.50,
with basis 5 cents higher at +11K to +13K.
Cash soybean bids increased 7
cents at 14.41-14.44, with basis steady at Option K to 3K.
New crop corn bids for October
delivery ended 5 cents lower at 5.16-5.19, with basis 1 cent
lower ranging from -30Z to -27Z.
New crop soybean bids dropped 8 to
9 cents to 13.42-13.46, with basis steady to 1 cents higher at
-30X to -26X.
New crop wheat bids were down 1 to
5 cents to 6.34-6.35, with basis mixed at -10N to -9N.
At the St. Louis terminals cash
corn bids were 16 cents lower at 6.65-6.66, with soybeans up 7
cents from 14.62-14.64.
Cash bids for Soft Red Winter
wheat gained 4 cents to 6.61-6.62, with cash sorghum bids down
21 cents to range from 6.17-6.18.
In northern and western Illinois, cash corn bids to producers at
country elevators were 14 to 20 cents lower at 6.18-6.34, with
central Illinois locations down 20 to 21 cents at 6.30-6.46 and
in southern Illinois bids
lost 13 to 16 cents to range from 6.41-6.62.
Cash soybean bids in northern and
western were up 8 to 12 cents at 14.12-14.32, with central
Illinois bids gaining 6 to 7 cents to 14.18-14.29 and southern
Illinois advanced 8
cents at 14.27-14.43.
Cash wheat bids for Soft Red
Winter wheat in
southern Illinois locations ended steady to 1 cent higher to
range from 6.18-6.39.
New crop corn bids to producers at the country elevators in
northern and western Illinois were 4 lower to range from
5.02-5.16, with central Illinois locations down 2 to 3 cents at
5.08-5.25 and in southern Illinois
bids fell 3 cents to 5.17-5.28.
New crop soybean bids for October
delivery
in northern and western Illinois were 7 to 8 cents lower at
13.23-13.38, with central Illinois locations down 8 to 9 cents
to 13.33-13.43 and in southern Illinois bids were mixed at
13.38-13.48.
New crop wheat bids for July 2012
delivery in southern Illinois ended 1 to 3 cents lower at
6.15-6.37.
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 |
6.10 - 6.18 |
14.08 - 14.17 |
|
| WESTERN |
6.16 - 6.25 |
14.12 - 14.27 |
|
| N. CENT. |
6.22 - 6.28 |
14.13 - 14.23 |
|
| S. CENTRAL |
6.30 - 6.36 |
14.14 - 14.25 |
|
| WABASH |
6.37 - 6.45 |
14.23 - 14.27 |
6.05 - 6.14 |
| W.S. WEST |
6.33 - 6.36 |
14.26 - 14.37 |
6.13 - 6.21 |
| L. EGYPT |
6.43 - 6.53 |
14.27 - 14.39 |
6.22 - 6.24 |
Central Illinois average price
Corn: Corn 6.29 ( opt K)
Soybeans: 14.19 (-18 K)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
| NORTHERN |
4.94 - 5.07 |
13.12 - 13.25 |
|
| WESTERN |
4.93 - 5.01 |
13.19 - 13.27 |
|
| N. CENT. |
4.99 - 5.08 |
13.22 - 13.32 |
|
| S. CENTRAL |
5.01 - 5.14 |
13.22 - 13.32 |
|
| WABASH |
5.07 - 5.17 |
13.25 - 13.32 |
6.05 - 6.08 |
| W.S. WEST |
5.08 - 5.15 |
13.32 - 13.37 |
6.13
- 6.24 |
|
L. EGYPT |
5.17 - 5.18 |
13.27 - 13.32 |
6.00 - 6.15 |
***June/July 2012 Delivery
Cent. Ill. Average Price at Country
Elevators
| Week of |
4/12/2012 |
4/5/2012 |
| |
Price Basis |
Price Basis |
| Corn |
6.38 + 1/2 K |
6.58 1/2 Opt K |
| Soybeans |
14.17 -17 1/2 K |
14.17 -17 K |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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