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Illinois grain prices in country elevators

THIS REPORT WILL NOT BE ISSUED MONDAY, DEC. 31,
OR TUESDAY, JAN. 1, IN OBSERVANCE OF THE HOLIDAY

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[December 29, 2012]  SPRINGFIELD -- This is Friday's report of the grain prices and trends, prepared by the USDA and the Illinois Department of Agriculture.

(Copy)

Illinois country grain prices were slightly higher on Friday afternoon.

The highest weekly export sales figures in over a year fueled the rally in wheat.

Sales of over 1 million tonnes were the highest since the 2010/2011 crop year. Export sales of soybeans and soybean oil helped to lift soybean futures.

In Northern and Western Illinois country grain dealers quoted shelled corn bids mostly 3 cents higher at 6.76-7.02.

Soybean bids were 5 to 6 cents higher at 13.93-14.12.
 
In Central Illinois country grain dealers quoted shelled corn bids were 2 cents higher at 6.86-7.03.

Soybean bids were 4 to 5 cents higher at
14.11-14.30.

In the Southern part of the state, shelled corn bids were 3 cents higher at 6.74-7.10.

Soybean bids were mostly 5 to 9 cents higher at 14.31-14.47.

Wheat bids were 6 to 12 cents higher at 7.57-7.84. 

Illinois grains ended mixed for the week, with soybeans up and corn and wheat futures lower.

Light trading activity for the holiday shortened week was normal and expected with many traders out of the market and on vacation. 

Beneficial moisture from this week's snow storm helped to push wheat values lower, but several announced export sales supported prices. 

Soybean futures had some technical buying as prices recovered from last week's sharp
declines. Soybeans and wheat received support from export interest and sales.

The trading in the cash grain market was slow, with farmers making some year-end sales.  

Basis was firm for soybeans, with corn basis steady to weak. 

Export demand and the demand from processors kept basis strong for soybeans.

The Central Illinois Soybean Processors cash
bids gained 10 cents to 14.34-14.44, with basis steady at +15F to +25F.

The Central Illinois Corn Processors cash bids were steady to 5 cents lower ranging from 6.94-7.06, with basis steady to 5 cents higher ranging from +3H to +15H.

At the Illinois River terminals south of
Peoria, cash corn bids ended 5 cents lower ranging from 6.66-6.72, with basis steady at -25H to -19H.

Cash soybean bids increased 12 to 19 cents to 14.26-14.44, with basis 2 to 9 cents
higher ranging from 17F to 25F.

New crop wheat bids for delivery in July 2013 ended 18 cents lower ranging from 7.48-7.60, with basis steady at -42N to -30N.

At the Illinois River terminals north of Peoria, cash corn bids lost 6 to 7 cents to 6.75-6.81, with basis down 1 to 2 cents at
-16H to -10H.

Cash soybean bids were up 15 to 17 cents at 14.24-14.34, with basis 5 to 7 cents
higher ranging from 5F to 15F.

New crop wheat bids for July 2013 delivery fell 14 to 17 cents to range from 7.58-7.63, with basis steady to 3 cents higher at -311/2 N to -27N.

[to top of second column]

At the St. Louis terminals cash corn bids were down 5 cents at 6.52-6.71, with soybeans up 3 to 6 cents ranging from 14.50-14.51.

Cash bids for Soft Red Winter wheat fell 19 cents to 7.61-7.62 and cash sorghum bids were 5 cents lower to range from 6.53-6.54. 

In northern and western Illinois, cash corn bids to producers at country elevators dropped 1 to 5 cents at 6.73-6.99, with central Illinois locations down 4 cents at 6.84-7.01 and in southern Illinois bids were mixed to range from 6.71-7.07.

Cash soybean bids in northern and western
locations were up 4 to 14 cents at 13.88-14.06 with central Illinois bids 8 to 13 cents higher at 14.07-14.25 and southern Illinois bids ended mixed to range from 14.19-14.31.

Cash wheat bids for Soft Red Winter wheat in southern Illinois locations fell 1 to 8 cents to 7.51-7.72.

New crop wheat bids for June-July delivery in southern Illinois dropped 8 to 18 cents to range from 7.44-7.60.

_____

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

 6.84 - 7.02 14.03 - 14.12  

WESTERN 

6.76 - 6.87 13.93 - 14.11  

N. CENT.

6.86 - 6.96  14.11 - 14.26  

S. CENTRAL

6.92 - 7.03 14.19 - 14.30  

WABASH 

6.96 - 7.07 14.31 - 14.42 7.62 - 7.84 

W.S. WEST

6.74 - 6.83 14.31 - 14.39  7.57 - 7.74   

L. EGYPT

7.01 - 7.10 14.34 - 14.47 7.64 - 7.79

Central Illinois average price

Corn: 6.94 1/2 (+ 1/2   H)
Soybeans:
14.20 1/2 (- 3 1/2 F)

CONTRACT BIDS FOR JANUARY 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

5.55 - 5.70 12.63 - 12.70  

WESTERN 

5.54 - 5.65 12.55 - 12.70  

N. CENT.

5.61 - 5.75 12.70 - 12.80  

S. CENTRAL

5.65 - 5.76 12.68 - 12.85  

WABASH 

5.73 - 5.80 12.70 - 12.80 7.63 - 7.87

W.S. WEST

5.46 - 5.58 12.65 - 12.75

7.39 - 7.50 

L. EGYPT

5.75 - 5.84

12.60 - 12.80

7.53 - 7.73

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

12/27/2012

12/20/2012

  Price--Basis Price--Basis

Corn

6.92 1/2   +1H

 6.96 1/2 opt H

Soybeans

14.16 -3F

14.03 1/2 - 5 1/2 F

Annual Comparison

 

November 2012

December 2011   

  Price--Basis Price--Basis

Corn

7.39 - 1Z

5.96   -10 H

Soybeans

14.39 -11X

11.23   -20 F

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

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