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Illinois country grain prices were
mixed on Friday afternoon, with soybeans higher and corn and
wheat lower.
Soybean futures were boosted by
stronger soybean product values and export interest.
While technical selling and profit
taking weakened corn and wheat values.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 6 to 8 cents lower at 7.93-8.08.
Soybean bids were mixed at
17.30-17.42.
In Central Illinois country grain dealers quoted shelled corn
bids were 5 to 6 cents lower at 8.08-8.35.
Soybean bids were 16 to 17 cents
higher
at 17.53-17.87.
In the Southern part of the state, shelled corn bids were 2 to 7
cents lower at 8.19-8.42.
Soybean bids were up 10 to 16
cents at 17.45-17.76.
Wheat bids were 5 to 7 cents lower at 8.43-8.59.
Illinois grains-Grain futures ended higher, with soybeans
sharply higher.
The futures market seemed to use
the information from the Pro Farmer crop tour to
trade this week.
Good export demand still supported
stronger soybean values, with several export sales announced
this week for soybeans and soybean oil.
Information with falling Russian grain stocks was still giving
wheat futures strength.
The Illinois crop conditions improved slightly for soybeans,
while corn was steady, 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, unchanged from last week; there was 22% fair and 73%
very poor to
poor.
The condition of the state's
soybean crop went up by 2%, with 14% of the soybean crop in the
good to excellent range, with 35% fair and 51% in the very poor
to poor range.
The state's pasture land ratings
improved slightly by placing 2% in the good category, with 9%
fair and 89% in the very poor to poor range.
We are getting to that stage where
crop conditions mean less and less and harvest progress means
more and more.
The Illinois corn crop placed 25%
in the mature range, with 3% of the crop harvested.
There was now 94% of the state's
soybean crop setting pods, compared to 86% last year and 83% for
the five year average and 7% of the crop was turning yellow.
The trading in the cash grain market was slow to moderate this
week.
While in many cases last week cash
basis was very strong, this week it headed the other direction,
especially late week. While demand seemed to remain very good,
it
was a transportation problem causing the weaker basis.
Due to very little rainfall this
summer, water levels have become very low in many rivers,
especially the Mississippi River.
At one point this week on the
lower
Mississippi, barges were stopped as a few had become stuck.
While the Army Corps of Engineers
dredged the river to improve barge movement, another accident
stopped river traffic again.
Keep in mind that while this
basically
stopped grain from moving to the gulf for export, it also
stopped river traffic from coming north as well.
The Central Illinois Soybean
Processors cash bids ended 65 to 80 cents higher at 17.65-17.95,
with basis down 10 to 25 cents
ranging from +50X to +80X.
The Central Illinois Corn
Processors cash bids
were up 1 to 11 cents ranging from 8.24-8.64, with basis steady
to 10 cents lower ranging from +15U to +55U.
At the Illinois River terminals
south of
Peoria, cash corn bids ended 13 to 18 cents higher ranging from
7.95-8.04, with basis up 2 to 7 cents at -14U to -5U.
Cash soybean bids gained 46 to 52
cents to 17.41-17.50, with basis down 38 to 44 cents ranging
from +26X to +35X.
New crop corn bids for October
delivery were mixed ranging from 8.05-8.07, with basis 2 to 10
cents weaker at -10Z to -8Z. New crop soybean bids were up 80 to
86 cents ranging from 17.15-17.23, with basis 4 to 10 cents
lower at option X to +8X.
[to top of second column] |
New crop wheat bids for delivery
July 2013 ended 18 to 19 cents stronger ranging from 8.02-8.11,
with basis steady to 1 cent lower
at -50N to -41N.
At the Illinois River terminals
north of Peoria, cash corn bids were 7 to 15 cents higher at
8.08-8.14, with basis steady to 4 cents
lower at -1U to +5U.
Cash soybean bids gained 61 to 64
cents at 17.43-17.49, with basis dropping 26 to 29 cents ranging
from +28X to +34X.
New crop corn bids for October
delivery ended 2 to 3 cents higher at 7.95-7.99, with basis 5 to
6 cents lower ranging from -20Z to -16Z.
New crop soybean bids advanced 83
to 85 cents to 17.11-17.17, with basis down 5 to 7 cents at -4X
to +2X.
New crop wheat bids for July 2013
delivery gained 19 cents to 8.10-8.12, with basis steady at -42N
to -40N.
At the St. Louis terminals cash
corn bids were 10 to 18 cents higher at 7.95-8.10, with soybeans
gaining 85 to 86 cents
ranging from 17.54-17.67.
Cash bids for Soft Red Winter
wheat advanced 20 cents to 8.59-8.60, and cash sorghum bids were
7 cents higher to range from 7.19-7.20.
In northern and western Illinois, cash corn bids to producers at
country elevators were 11 to 12 cents higher at 7.99-8.16, with
central Illinois locations up 14 to 17 cents at 8.14-8.40 and in
southern Illinois bids
increased 17 to 18 cents to range from 8.21-8.49.
Cash soybean bids in northern and
western locations were up 82 to 87 cents at 17.37-17.45 with
central Illinois bids gaining 72 to 80 cents at 17.37-17.70 and
southern Illinois bids were 72 to 85 cents higher at
17.35-17.60.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations increased 9 to 13
cents at 8.48-8.66.
New crop corn bids to producers at the country elevators in
northern and western Illinois were up 2 to 11 cents to range
from 7.74-8.10, with central Illinois locations gaining 9 to 11
cents at 7.96-8.28 and in southern Illinois bids increased 8 to
9 cents to 7.96-8.40.
New crop soybean bids for October
delivery in northern and western Illinois were up 93 to 94 cents
at 16.84-17.03, while central Illinois locations gained 90 to 95
cents at 16.95-17.10 and in southern Illinois bids were 90 to 92
cents higher at 16.90-17.20.
New crop wheat bids for June-July
2013 delivery ended 19 cents higher at 7.93-
8.22.
___
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 |
7.93 - 8.06 |
17.30 - 17.37 |
|
|
WESTERN |
7.97 - 8.08 |
17.33 - 17.42 |
|
|
N. CENT. |
8.08 - 8.17 |
17.53 - 17.66 |
|
|
S. CENTRAL |
8.24 - 8.35 |
17.76 - 17.87 |
|
|
WABASH |
8.26 - 8.40 |
17.52 - 17.57 |
8.43 - 8.53 |
|
W.S. WEST |
8.19 - 8.28 |
17.45 - 17.68 |
8.46 - 8.48 |
|
L. EGYPT |
8.32 - 8.42 |
17.62 - 17.76 |
8.47 - 8.59 |
Central Illinois average price
Corn: 8.21 1/2 (+19 U)
Soybeans:
17.70 (+38 1/2 X)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
7.83 - 7.93 |
17.01 - 17.14 |
|
|
WESTERN |
7.69 - 7.87 |
17.01 - 17.19 |
|
|
N. CENT. |
7.94 - 8.07 |
17.11 - 17.16 |
|
|
S. CENTRAL |
8.13 - 8.22 |
17.16 - 17.27 |
|
|
WABASH |
8.09 - 8.34 |
17.07 - 17.32 |
8.17 - 8.20 |
|
W.S. WEST |
7.80 - 7.86 |
17.35 - 17.47 |
7.93
- 8.02 |
|
L. EGYPT |
8.29 - 8.33 |
17.29 - 17.37 |
8.12 - 8.22 |
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
8/23/2012 |
8/16/2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
8.27 +18 U |
8.11 1/2 +14 1/2 U |
|
Soybeans |
17.53 1/2 +38 1/2 X |
16.77 1/2 +52 X
|
Annual Comparison
|
|
July 2012 |
July 2011 |
| |
Price--Basis |
Price--Basis |
|
Corn |
7.85 +25 1/2 U |
6.96 +28 U |
|
Soybeans |
16.60 +23 X |
13.65 + 3 1/2 X |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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