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Illinois grain prices in country elevators

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[August 14, 2012]  SPRINGFIELD -- This is Monday's report of the grain prices and trends, prepared by the USDA and the Illinois Department of Agriculture.

(Copy)

Illinois country grain prices were sharply lower on Monday afternoon.

Futures prices were weakened by the cooler and wetter weather forecast for most of the cornbelt.

Technical trading also helped to drive prices
lower.

In the USDA's Weekly Crop Progress report, the USDA placed 23% of the US corn crop in the good to excellent range, unchanged from last week.

The condition of the US soybean crop improved 1% from last week placing
30% in the good to excellent category.

In Northern and Western Illinois country grain dealers quoted shelled corn bids 18 cents lower at 7.66-7.80.

Soybean bids traded 37 to 41 cents lower at 16.20-16.43.

In Central Illinois country grain dealers quoted shelled corn bids were 14 to 17 cents lower at 7.82-8.00.

Soybean bids were 38 to 41 cents lower
at 16.36-16.51.

In the Southern part of the state, shelled corn bids were 16 to 18 cents lower at 7.64-8.13.

Soybean bids were 38 to 43 cents lower at 16.26-16.54.

Wheat bids were 28 to 29 cents lower at 8.27-8.56.

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Commercial grain prices paid farmers by Interior Illinois Country Elevators after 2.00 p.m. Monday are listed below in dollars per bushel:

AREA 

US 2

CORN

US 1

SOYBEANS

 US 2

SOFT

WHEAT 

NORTHERN

7.66 - 7.75 16.30 - 16.43  

WESTERN 

7.76 - 7.80 16.20 - 16.30  

N. CENT.

7.82 - 7.95 16.36 - 16.47  

S. CENTRAL

7.92 - 8.00 16.40 - 16.51  

WABASH 

8.05 - 8.11 16.26 - 16.40 8.32 - 8.56

W.S. WEST

7.64 - 7.97 16.35 - 16.54 8.30 - 8.40

L. EGYPT

8.03 - 8.13 16.26 - 16.36 8.27 - 8.48

Central Illinois average price

Corn: 7.91 (+ 8 U)
Soybeans:
16.43 1/2 (+43 X)

CONTRACT BIDS FOR NEW CROP 2012 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

7.64 - 7.80 15.67 - 15.82  

WESTERN 

7.59 - 7.70 15.74 - 15.83  

N. CENT.

7.70 - 7.84 15.75 - 15.87  

S. CENTRAL

7.88 - 8.04  15.86 - 15.96  

WABASH 

7.92 - 8.05 15.76 - 15.90 7.94 - 8.06

W.S. WEST

7.79 - 8.00 15.91 - 16.04

 7.71 - 7.81

L. EGYPT

7.99 - 8.12

15.91 - 15.99

8.03 - 8.11

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

8/9/2012 8/02/2012
  Price Basis Price Basis

Corn

8.24 1/2 + 6 1/2 U

8.03 1/2 + 9 1/2 U

Soybeans

16.70 1/2 +39 X

16.80 1/2 +62 1/2 X 

[Text copied from USDA-IL Dept of Ag Market News, Springfield]

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