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Illinois country grain prices were
mixed on Friday afternoon, with corn and wheat lower and
soybeans sharply higher. Continued projections of South American
soybean supplies well below USDA projections sent soybeans
sharply higher in afternoon trading.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 8 to 10 cents lower at 5.99-6.07. Soybean bids
traded 29 to 32 cents higher at 14.22-14.29.
In Central Illinois country grain dealers quoted shelled corn
bids were 8 to 9 cents lower at 6.06-6.21. Soybean bids were 31
to 33 cents higher at 14.23-14.34.
In the Southern part of the state, shelled corn bids were 7 to
11 cents lower at 6.14-6.35. Soybean bids were 30 to 35 cents
higher at 14.33-14.53. Wheat bids were 4 to 9 cents lower at
6.00-6.18.
Illinois grains- Grain futures
ended lower for the week. Long liquidation by non-commercial
interest pressured grains. Corn futures were down as a result of
lower outside markets, a higher US dollar and beneficial rains
throughout much of the Cornbelt. Another contributing factor was
weekly export sales for corn that came in below estimates at
300,400 tonnes. The decline in soybean values came despite
export sales estimates above trade expectations at 374,300
tonnes. Soybeans were also pressured by lower than
expected National Oilseed Processors Association March soybean
crush report.
In the Illinois Weather and Crops update, the USDA's NASS
Illinois Field Office, estimated that Illinois farmers had
planted 41% of the state's corn crop, compared to 17% last week
and 8% last year. The southern areas had planted 44-69% of their
crop, with the northern areas ranging from 9-50%. Also in
the southern areas, there was 11-34% of the corn emerged.
Rainfall early in the week encouraged many farmers to continue
planting. In the state, there were 12% of the soils in the
surplus category, with 61%
adequate, 24% short and 3% very short.
The trading in the cash grain market was slow to moderate.
Producers seemed more interested in getting the new crop in the
ground rather than marketing old crop grains and soybeans. At
the Central Illinois Soybean Processors cash bids ended 23 to 25
cents lower at 14.16-14.28, with basis steady to 2
cents higher at option K to +12K. The Central Illinois Corn
Processors cash bids were 16 to 17 cents lower with bids ranging
from 6.35-6.47 with basis change option months to +23N to +35N.
At the Illinois River terminals south of Peoria, cash corn bids
ended 15 to 16 cents lower ranging from 6.32-6.37, with basis
steady to up 1cent at +11K to +16K. Cash soybean bids lost 24 to
27 cents at 14.16-14.23, with basis mixed from Option K to +7K.
New crop corn bids for October delivery were down 4 to 7 cents
to range from 5.11-5.18, with basis mixed at -31Z to -24Z. New
crop soybean bids dropped 30 to
31 cents to 13.14-13.22, with basis steady to 1 cent higher
ranging from -28X to -20X. New crop wheat bids for July 2012
delivery were 14 to 16 cents lower ranging from 6.11-6.20, with
basis steady to 2 cents lower
ranging from -19N to -10N. At the Illinois River terminals north
of Peoria, cash corn bids fell 17 to 18 cents at 6.30-6.33, with
basis 1 to 2 cents lower at +9K to +12K. Cash soybean bids
decreased 25 cents at 14.16-14.19, with basis steady at Option K
to 3K. New crop corn bids for October delivery
ended 6 to 7 cents lower at 5.10-5.14, with basis 1 to 2 cents
lower ranging from -32Z to -28Z. New crop soybean bids dropped
29 cents to 13.14-13.16, with basis steady to 2 cents higher at
-28X to -26X. New crop wheat bids were down 9 cents to
6.25-6.26, with basis 5 cents higher at -5N to -4N. At the
St. Louis terminals cash corn bids were 17 cents lower at
6.48-6.49, with soybeans down 25 cents from 14.36-14.39. Cash
bids for Soft Red Winter wheat lost 14 cents to 6.47-6.48, with
cash sorghum bids down 17 cents to range from 6.00-6.01.
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In northern and western Illinois, cash corn bids to producers at
country elevators were 14 to 19 cents lower at 6.04-6.15, with
central Illinois locations down 16 to 17 cents at 6.14-6.29 and
in southern Illinois bids
lost 17 to 18 cents to range from 6.23-6.45. Cash soybean bids
in northern and western were down 20 to 22 cents at 13.90-14.02
with central Illinois bids losing 24 to 26 cents to 13.92-14.05
and southern Illinois dropped 21 to 25 cents at 14.02-14.22.
Cash wheat bids for Soft Red Winter wheat in southern Illinois
locations ended 13 to 14 cents lower to range from 6.04-6.26.
New crop corn bids to producers at
the country elevators in northern and western Illinois were 5 to
6 cents lower to range from 4.96-5.11, with central Illinois
locations down 4 to 9 cents at 5.04-5.14 and in southern
Illinois bids fell 6 to 7 cents to 5.10-5.22. New crop soybean
bids for October delivery in northern and western Illinois were
30 to 31 cents lower at 12.97-13.12, with central Illinois
locations down 31 to 36 cents to 12.97-13.12 and in southern
Illinois bids were down 28 to 40 cents at 12.98-13.20. New crop
wheat bids for July 2012 delivery in southern Illinois ended 3
to 11 cents lower at 6.04-6.34.
___
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 |
5.99 - 6.02 |
14.22 - 14.27 |
|
| WESTERN |
5.99 - 6.07 |
14.22 - 14.29 |
|
| N. CENT. |
6.06 - 6.12 |
14.23 - 14.32 |
|
| S. CENTRAL |
6.12 - 6.21 |
14.24 - 14.34 |
|
| WABASH |
6.19 - 6.29 |
14.33 - 14.39 |
6.00 - 6.06 |
| W.S. WEST |
6.14 - 6.19 |
14.36 - 14.48 |
6.07 - 6.18 |
| L. EGYPT |
6.27 - 6.35 |
14.37 - 14.53 |
6.02 - 6.16 |
Central Illinois average price
Corn: 6.13 1/2 (+ 1 K)
Soybeans: 14.28 1/2 (-17 1/2K)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
| NORTHERN |
4.94 - 5.06 |
13.08 - 13.18 |
|
| WESTERN |
4.91 - 5.01 |
13.09 - 13.21 |
|
| N. CENT. |
4.99 - 5.08 |
13.16 - 13.26 |
|
| S. CENTRAL |
5.01 - 5.15 |
13.10 - 13.26 |
|
| WABASH |
5.07 - 5.17 |
13.18 - 13.26 |
5.98 - 6.01 |
| W.S. WEST |
5.05 - 5.12 |
13.20 - 13.33 |
6.16 - 6.29 |
|
L. EGYPT |
5.16 - 5.18 |
13.12 - 13.29 |
5.98 - 6.14 |
***June/July 2012 Delivery
Cent. Ill. Average Price at Country
Elevators
| Week of |
4/19/2012 |
4/12/2012 |
| |
Price Basis |
Price Basis |
| Corn |
6.21 1/2 + 1/2 K |
6.38 + 1/2 K |
| Soybeans |
13.98 1/2 -17 1/2 K |
14.17 -17 1/2 K |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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