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Illinois country grain prices were
mostly higher on Friday afternoon.
Corn futures were supported by the
export sales to Mexico.
The USDA announced the sale of 1.5
million tonnes of US corn to Mexico, with some for old crop and
some for new.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 12 to 16 cents higher at 7.84-8.16.
Soybean bids traded mixed at
16.30-16.62.
In Central Illinois country grain dealers quoted shelled corn
bids were 7 to 17 cents higher at 8.09-8.21.
Soybean bids were mixed at
16.77-16.89.
In the Southern part of the state, shelled corn bids were 15 to
16 cents higher at 7.98-8.44.
Soybean bids were 6 to 10 cents
higher at
16.50-16.74.
Wheat bids were 26 to 27 cents
higher at 8.65-8.88.
Illinois grains-Grain futures
ended mixed, with corn and soybean futures higher and wheat
lower.
The main focus of the markets
continues to be the weather and the hot and dry conditions for
the cornbelt.
The USDA's Weekly Crop Conditions
report again indicated the condition of the US corn and soybean
crops continues to fall.
Both the corn and soybean crops
fell by 2% with 24% of the US corn crop in good to excellent
condition and 29% of the US soybean crop in the good to
excellent range.
While dry conditions for the
Russian wheat crop were driving wheat prices higher last week,
the confirmation by Russian officials that they would not
curtail exports weighed on prices.
Traders were also taking profits
and evening positions ahead of the USDA reports that are
scheduled for release on August 10th.
The Illinois crop conditions fell again this week, according to
the USDA's Illinois Weather and Crops report, from the Illinois
Field Office in Springfield.
The Illinois corn crop placed 5%
in the good
range, down 2% from last week, there was 24% fair and 71% very
poor to poor.
The condition of the state's
soybean crop fell by 4%, with 9% of the soybean crop in the good
range, with 35% fair and 56% in the very poor to poor range.
The state's pasture land placed 1%
in the good category, with 4% fair and 95% in the very poor to
poor range.
The topsoil moisture ratings
continue to drop, with the entire state in the short and very
short category.
This week there was 15% in the
short category and 85% very short in the very short range.
The subsoil ratings also continue
to fall with the entire state in the short and very short
categories; there was 14% short and 86% in the very short
category.
The Illinois corn crop placed 18%
of the corn crop in the dent stage, compared to 2% last year and
4% for the five year average.
There was now 2% of the state's
corn
crop in the mature range, with just a few farmers starting to
harvest some corn.
There was now 61% of the state's
soybean crop setting pods, compared to 36% last year and 36% for
the five year average.
The trading in the cash grain market was slow to moderate this
week.
It was also another confusing week
with basis.
The cash corn basis was lower in
many cases.
Due to the changing by many
processors and
terminals from the August (Q) to the November (X) futures month,
it was impossible to track the direction of the soybean basis,
but it had a weak undertone.
At the Central Illinois Soybean
Processors
cash bids ended mostly steady at 16.85-17.16, with basis ranging
from +70X to +100X.
The Central Illinois Corn
Processors cash bids
were 7 to 10 cents higher with bids ranging from 8.16-8.26, with
basis down 3 to 6 cents ranging from +22U to +32U.
At the Illinois River terminals
south of Peoria, cash corn bids ended 8 to 14 cents higher
ranging from 7.94-8.04, with basis mixed at option U to +10U.
Cash soybean bids lost 58 to 62
cents to 16.50-16.58, with basis ranging from +34X to +42X.
New crop corn bids for October
delivery
were up 12 to 14 cents to range from 7.80-7.88, with basis 6 to
8 cents lower at -16Z to -8Z.
[to top of second column] |
New crop soybean bids gained 54 to
56
cents to range from 16.14-16.19, with basis up 5 to 7 cents at
-2X to +3X.
New crop Wheat bids for delivery
July 2013 ended 16 cents higher ranging from 7.77-7.87, with
basis unchanged at -50N to -40N.
At the Illinois River terminals
north of Peoria, cash corn bids were up 9 to 12 cents at
7.95-7.97, with basis down 1 to 4 cents at +1U to +3U.
Cash soybean bids lost 47 to 48
cents at 16.59-16.61, with basis ranging from +43X to +45X.
New crop corn bids for October
delivery ended 17 to 19 cents stronger at 7.80-7.85, with basis
steady to 3 cents lower ranging from -16Z to -11Z.
New crop soybean bids advanced 53
to 55 cents to 16.10-16.15, with basis 3 to 6 cents
higher at -61/2 X to -1X.
New crop wheat bids for July 2013
delivery
gained 16 to 17 cents to 7.76-7.82, with basis steady to 1 cent
higher at -51N to -45N.
At the St. Louis terminals cash
corn bids
were steady to 1 cent higher at 8.02-8.08, with soybeans down 36
cents ranging from 16.86-16.87.
Cash bids for Soft Red Winter
wheat
dropped 13 cents to 8.35-8.36, and cash sorghum bids were 40
cents higher to range from 7.45-7.46.
In northern and western Illinois, cash corn bids to producers at
country elevators were 11 to 19 cents higher at 7.72-8.00,
central
Illinois locations gained 8 cents at 7.93-8.14 and in southern
Illinois bids decreased 1 to 2 cents to range from 7.83-8.28.
Cash soybean bids in northern and
western were down 37 to 41 cents at 16.31-16.50 with central
Illinois bids mixed at 16.65-16.93 and southern Illinois bids
fell 28 to 33 cents at 16.40-16.68.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations fell 9 to 25 cents
at 8.38-8.62.
New crop corn bids to producers at the country elevators in
northern and western Illinois were up 23 cents to range from
7.62-7.78, with central Illinois locations up 19 to 39 cents at
7.70-8.08 and in southern Illinois bids increased 19 to 20 cents
to 7.79-8.08.
New crop soybean bids for October
delivery in northern and western Illinois were up 45 to 51 cents
at 15.81-15.90, while central
Illinois locations gained 50 to 51 cents at 15.81-16.03 and in
southern Illinois bids advanced 49 to 53 cents to 15.99-16.17.
___
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 |
7.84 - 7.99 |
16.30 - 16.40 |
|
|
WESTERN |
8.04 - 8.16 |
16.44 - 16.62 |
|
|
N. CENT. |
8.09 - 8.20 |
16.77 - 16.83 |
|
|
S. CENTRAL |
8.12 - 8.21 |
16.79 - 16.89 |
|
|
WABASH |
8.30 - 8.40 |
16.50 - 16.74 |
8.73 - 8.80 |
|
W.S. WEST |
7.98 - 8.12 |
16.54 - 16.70 |
8.65 - 8.71 |
|
L. EGYPT |
8.35 - 8.44 |
16.54 - 16.64 |
8.82 - 8.88 |
Central Illinois average price
Corn: 8.15 (+ 5 U)
Soybeans:
16.83 (+54 X)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
7.72 - 7.86 |
15.87 - 15.97 |
|
|
WESTERN |
7.72 - 7.85 |
15.96 - 16.20 |
|
|
N. CENT. |
7.87 - 7.98 |
15.93 - 16.03 |
|
|
S. CENTRAL |
7.99 - 8.15 |
16.07 - 16.19 |
|
|
WABASH |
8.12 - 8.18 |
16.11 - 16.29 |
8.05 - 8.21 |
|
W.S. WEST |
7.91 - 7.96 |
16.11 - 16.24 |
7.68 - 7.87 |
|
L. EGYPT |
8.06 - 8.18 |
16.19 - 16.29 |
8.10 - 8.18 |
Cent. Ill. Average Price at Country
Elevators
|
Week of |
8/02/2012 |
7/26/2012 |
| |
Price Basis |
Price Basis |
|
Corn |
8.03 1/2 + 9 1/2 U |
7.95 1/2 +14 U |
|
Soybeans |
16.80 1/2 +62 1/2 X
|
16.80 1/2 +25 Q |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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