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Illinois country grain prices were
sharply higher on Friday afternoon. The USDA's confirmation of
the sale of 1.56 million tonnes of US corn helped to boost corn
prices. The sale of 1.44 million tonnes to an unknown
destination was the largest sale of the group. Several sales of
US soybeans to China helped to support higher soybean prices.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 13 to 21 cents higher at 6.42-6.54. Soybean
bids traded mostly 13 to 16 cents higher at 14.65-14.90.
In Central Illinois country grain dealers quoted shelled corn
bids were mostly 18 to 20 cents higher at 6.36-6.50. Soybean
bids were 13 to 16 cents higher at 14.71-14.85.
In the Southern part of the state, shelled corn bids were 23 to
27 cents higher at 6.51-6.69. Soybean bids were 16 to 17 cents
higher at 14.80-15.02. Wheat bids were 16 to 17 cents higher at
6.26-6.48.
Illinois grains- Grain futures ended mixed this week, with
soybeans sharply higher, wheat slightly higher and corn lower.
This week seemed to be all about
soybeans, export news, rumors about Chinese export interest, the
South American soybean crop getting smaller and strong gains in
soybean meal.
Weekly export sales were over
trade expectations on Thursday, with sales of 1.409 million
metric tonnes of soybeans. Also on Thursday, the Buenos Aires
Cereals Exchange lowered their expectations for the Argentine
soybean crop from 44 million metric tonnes last week to 43
million metric tonnes.
This week has also seen a strong
rally in soybean meal. If the South American crop keeps getting
smaller, some traders believe this could limit the exporting of
soybean meal from that country. The 48% soybean meal from
Central Illinois Soybean Processors, on a cash basis, as of
Thursday has been up $35.90 to $37.90 per ton from last
Thursday. Central Illinois bids for 48% soybean meal ranged from
$411.80 to $421.80 per ton.
In the Illinois Weather and Crops update released Monday by the
USDA's NASS Illinois Field Office, estimated that Illinois
farmers had planted 59% of the state's corn crop, compared to
41% last week and 10% last year. Most areas of the state are
62-80% complete, with the northern regions of
Illinois 30-40% done.
Soybean planting has officially
started with 5% of the state's crop in the ground, compared to
2% last week and less than 1% last year. Most of those soybeans
are planted in the southwest region of the state as they are 28%
done.
The Illinois wheat crop continues
to be in great shape and ahead of most years in maturity. This
week, the crop placed 84% in the good to excellent category,
with 15% fair and only 1% poor. There was also 55% of the crop
headed, compared to 40% last week and 1% for the five year
average. Many believe farmers will be able to start the wheat
harvest in early June this year.
The trading in the cash grain market was moderate.
The rally in soybeans had cash
soybeans near or at the 15.00 mark at several grain terminals in
the southern parts of the state. This was another trigger point
for some producers to make some sales of cash soybeans.
Basis for both cash and new crop
corn and soybeans has been stronger this week, with improvements
noted at both processors and river terminals.
At the Central Illinois Soybean
Processors cash bids ended 66 to 67 cents higher at 14.81-14.94,
with basis steady to 1 cent higher at option K to +13K.
The Central Illinois Corn
Processors cash bids were mixed with bids ranging from 6.30-6.50
with basis steady to 8 cents higher at +23N to +43N.
At the Illinois River terminals
south of Peoria, cash corn bids ended 5 to 8 cents higher
ranging from 6.37-6.45, with basis up 2 to 5 cents at +13K to
+21K.
Cash soybean bids gained 68 to 71
cents at 14.86-14.90, with basis 2 to 5 cents higher at +5K to
+9K.
New crop corn bids for October
delivery were down 3 to 6 cents to range from 5.07-5.11, with
basis steady to 3 cents higher at
-28Z to -24Z.
New crop soybean bids advanced 21
to 26 cents to 13.40-13.43, with basis 5 to 10 cents higher
ranging from -18X to -15X.
New crop wheat bids for July 2012
delivery were 14 to 15 cents higher ranging from 6.25-6.35, with
basis up 9 to 10 cents ranging from -10N to option N.
[to top of second column] |
At the Illinois River terminals
north of Peoria, cash corn bids gained 7 to 8 cents at
6.37-6.41, with basis 4 to 5 cents higher at +13K to +17K.
Cash soybean bids increased 69
cents to 14.84-14.87, with basis 3 cents higher
at +3K to +6K.
New crop corn bids for October
delivery ended 3 to 4 cents lower at 5.06-5.09, with basis 2 to
3 cents higher ranging from -29Z to -26Z.
New crop soybean bids gained 18 to
19 cents to 13.32-13.35, with basis 2 to 3 cents higher at -26X
to -23X.
New crop wheat bids were up 5
cents to 6.30-6.31, with basis unchanged at -5N to -4N.
At the St. Louis terminals cash
corn bids were 3 to 5 cents higher at 6.51-6.54, with soybeans
up 68 to 69 cents from 15.05-15.07.
Cash bids for Soft Red Winter
wheat gained 2 cents to 6.49-6.50, with cash sorghum bids down 2
cents to range from 5.98-5.99.
In northern and western Illinois, cash corn bids to producers at
country elevators were 3 to 6 cents higher at 6.07-6.21, with
central Illinois locations mixed at 6.11-6.33 and in southern
Illinois bids gained 1 cent to range from 6.24-6.46.
Cash soybean bids in northern and
western were up 62 to 66 cents at 14.56-14.64 with central
Illinois bids gaining 64 to 66 cents to 14.58-14.69 and southern
Illinois increased 61 to 64 cents at 14.63-14.86.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations ended 3 to 6 cents
higher to range from 6.10-6.29.
New crop corn bids to producers at the country elevators in
northern and western Illinois were 6 cents lower to range from
4.90-5.05, with central Illinois locations down 6 cents at
4.98-5.08 and in southern Illinois bids fell 5 to 7 cents to
5.05-5.16.
New crop soybean bids for October
delivery in northern and western Illinois were 17 cents higher
at 13.10-13.24, with central Illinois locations up 18 to 21
cents to 13.18-13.29 and in southern Illinois bids gained 20 to
23 cents at 13.21-13.40.
New crop wheat bids for July 2012
delivery in southern Illinois ended steady to 7 cents higher at
6.11-6.34.
___
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 |
6.42 - 6.54 |
14.65 - 14.73 |
|
| WESTERN |
6.43 - 6.50 |
14.76 - 14.90 |
|
| N. CENT. |
6.36 - 6.47 |
14.74 - 14.83 |
|
| S. CENTRAL |
6.43 - 6.50 |
14.71 - 14.85 |
|
| WABASH |
6.51 - 6.69 |
14.80 - 14.88 |
6.27 - 6.35 |
| W.S. WEST |
6.53 - 6.62 |
14.89 - 15.02 |
6.31 - 6.48 |
| L. EGYPT |
6.52 - 6.65 |
14.87 - 15.01 |
6.26 - 6.42 |
Central Illinois average price
Corn: 6.43 (-10 K)
Soybeans: 14.78 (-19 K)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
| NORTHERN |
4.96 - 5.10 |
13.15 - 13.20 |
|
| WESTERN |
4.90 - 5.02 |
13.16 - 13.27 |
|
| N. CENT. |
5.01 - 5.10 |
13.21 - 13.32 |
|
| S. CENTRAL |
5.03 - 5.17 |
13.22 - 13.32 |
|
| WABASH |
5.14 - 5.24 |
13.27 - 13.32 |
6.26 - 6.37 |
| W.S. WEST |
5.10 - 5.16 |
13.32 - 13.42 |
6.43 - 6.56 |
|
L. EGYPT |
5.17 - 5.20 |
13.24 - 13.35 |
6.25 - 6.42 |
***June/July 2012 Delivery
Cent. Ill. Average Price at Country
Elevators
| Week of |
4/26/2012 |
4/19/2012 |
| |
Price Basis |
Price Basis |
| Corn |
6.22 -2K |
6.21 1/2 + 1/2 K |
| Soybeans |
14.63 1/2 -18K |
13.98 1/2 -17 1/2 K |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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