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Illinois country grain prices were
lower on Friday afternoon. Many traders evened positions before
the weekend.
Soybean futures were lowered
despite the
sale of US soybeans to China.
Today, the USDA announced the sale
of 262,000 tonnes of US soybeans to China. China also cancelled
the purchase of 147,000
tonnes of US soybeans for the 2011-2012 season.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids down 22 to 25 cents at 6.07-6.20.
Soybean bids traded 5 to 8 cents
lower at
13.61-13.71.
In Central Illinois country grain dealers quoted shelled corn
bids were mostly
20 to 25 cents lower at 6.10-6.25.
Soybean bids were 4 to 6 cents
lower at
13.64-13.85.
Wheat bids were 8 to 15 cents
lower at 5.80-6.08.
In the Southern part of the state, shelled corn bids were 16 to
26 cents lower at 6.07-6.36.
Soybean bids were down 7 to 14
cents at 13.67-13.89.
Wheat bids were 10 to 15 cents lower at 5.99-6.23.
Illinois Grain - Grain futures ended mixed, with corn higher and
wheat and soybeans ending lower.
This week's release of the updated
Supply Demand report held a few surprises.
The USDA lowered the 2011-2012
soybean carryout to 175 million bushels and the 2012-2013
carryout to 140 million bushels, both
estimates were lower than expected and supported higher values
on Tuesday.
Though wheat ended lower for the week, it did receive a boost
Thursday when the
USDA announced the sale of 110,000 tonnes of US wheat to China.
While exports have been slow this
week for corn, export interest has been good.
The balance of the week has had
two things in common, one being fund selling and the other the
discussion of the extended weather forecast.
The 2012 corn crop continues to be ahead of the average pace.
According to the USDA's Illinois
Weather and Crops report, from the Illinois Field Office in
Springfield, the average height of a corn plant was already 29
inches tall, compared to 13 inches last year and the five year
average of 16 inches.
The lack of moisture was lowering
the condition of the Illinois corn crop.
This week there was 56% in the
good to excellent range, down 10% from last week, there was 34%
fair and 10% very poor to poor.
Monday's rain helped crops in
central and
southern Illinois, but more would help even more.
The condition of the state's
soybean crop also fell by 10%, with 50% of the soybean crop in
the good to excellent range, with 38% fair and 12% in the very
poor to poor range.
The wheat crop was 53% harvested,
compared to 1% last year and 1% for the five year average.
Yields have been good, but test weights have been even better.
Many producers reporting test weights well above 60 pounds,
while other quality
issues are very good as well.
The trading in the cash grain market was slow this week, but it
was exciting.
While processors and terminals would like to buy corn, producers
have not been willing sellers.
Basis for cash corn has been
moving higher all week long, with improvements of 7 to 21 cents
noted.
At the Central Illinois Soybean
Processors
cash bids ended 39 to 41 cents lower at 14.06-14.14, with basis
1 to 3 cents
higher ranging from +20N to +28N.
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The Central Illinois Corn
Processors cash bids
were 7 to 17 cents higher with bids ranging from 6.51-6.76, and
basis was steady
to10 cents higher at +50N to +75N.
At the Illinois River terminals
south of Peoria, cash corn bids ended 14 to 15 cents higher
ranging from 6.45-6.51, with basis up 7 to 8 cents at +44N to
+50N.
Cash soybean bids decreased 43 to
47 cents at 13.98-14.06, with basis 1 to 5 cents lower ranging
from +12N to +20N.
Wheat bids ended 16 to 19 cents lower ranging from 6.03-6.17,
with basis mixed
at -20N to -6N.
New crop corn bids for October
delivery were down 14 to 17 cents to range from 4.94-5.06, with
basis 3 to 6 cents higher at -22Z to -10Z.
New crop soybean bids dropped 29
to 34 cents to 12.96-13.05, with basis mixed at
-12X to -3X.
At the Illinois River terminals
north of Peoria, cash corn bids climbed 22 to 28 cents to
6.51-6.61, with basis up 15 to 21 cents at +50N to +60N.
Cash soybean bids were down 42 to
46 cents to 13.94-14.02, with basis steady to 4 cents higher
ranging from +8N to +16N.
Cash wheat bids fell 20 to 21
cents to 6.06-6.07, with basis 2 to 3 cents lower at of -17N to
-16N.
New crop corn bids for October
delivery ended 20 cents lower at 4.90-4.92, with
basis steady ranging from -26Z to -24Z.
New crop soybean bids dropped 30
cents
to 12.92-12.94, with basis 3 cents higher at -16X to -14X.
At the St. Louis terminals cash
corn bids were 17 cents higher at 6.55-6.61, with soybeans down
40 to 45 cents from 14.11-14.17.
Cash bids for Soft Red Winter
wheat lost 11
cents to 6.33-6.34, and cash sorghum bids were 7 cents higher to
range from 5.66-5.67.
In northern and western Illinois, cash corn bids to producers at
country elevators were 13 to 18 cents higher at 6.29-6.42, with
central Illinois locations up 18 to 20 cents at 6.32-6.49 and in
southern Illinois bids gained
11 to 14 cents to range from 6.35-6.56.
Cash soybean bids in northern and
western were down 40 to 46 cents at 13.70-13.79 with central
Illinois bids falling 39 to 42 cents to 13.70-13.89 and southern
Illinois decreased 38 to 39 cents at 13.77-13.98.
Cash wheat bids for Soft Red
Winter wheat in central Illinois dropped 24 to 37 cents to
5.98-6.16, with southern Illinois locations
down 9 to 10 cents at 6.10-6.33.
New crop corn bids to producers at the country elevators in
northern and western
Illinois were 16 to 19 cents lower to range from 4.73-4.86, with
central Illinois locations down 18 to 21 cents at 4.79-4.95 and
in southern Illinois bids decreased 15 to 20 cents to 4.90-5.07.
New crop soybean bids for October
delivery in northern and western Illinois were 31 to 33 cents
lower at 12.65-12.81, with central Illinois locations 27 cents
lower at 12.723-12.87 and in southern Illinois bids lost 31 to
34 cents at 12.75-12.99.
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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 |
6.09 - 6.19 |
13.61 - 13.69 |
|
| WESTERN |
6.07 - 6.20 |
13.66 - 13.71 |
|
| N. CENT. |
6.10 - 6.24 |
13.64 - 13.75 |
|
| S. CENTRAL |
6.12 - 6.25 |
13.72 - 13.85 |
5.80 - 6.08 |
| WABASH |
6.18 - 6.28 |
13.67 - 13.80 |
6.05 - 6.13 |
| W.S. WEST |
6.07 - 6.23 |
13.76 - 13.88 |
5.99 - 6.10 |
| L. EGYPT |
6.27 - 6.36 |
13.70 - 13.89 |
6.19 - 6.23 |
Central Illinois average price
Corn: 6.17 1/2 (+38 N)
Soybeans: 13.74 1/2 (- 1 1/2N)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
| NORTHERN |
4.77 - 4.86 |
12.71 - 12.81 |
|
| WESTERN |
4.65 - 4.76 |
12.79 - 12.89 |
|
| N. CENT. |
4.74 - 4.84 |
12.77 - 12.89 |
|
| S. CENTRAL |
4.72 - 4.86 |
12.74 - 12.91 |
--- |
| WABASH |
4.81 - 4.88 |
12.83 - 12.92 |
--- |
| W.S. WEST |
4.81 - 4.91 |
12.95 - 13.03 |
--- |
|
L. EGYPT |
4.88 - 4.97 |
12.86 - 12.92 |
--- |
***June/July 2012 Delivery
Cent. Ill. Average Price at Country
Elevators
| Week of |
6/14/2012 |
6/07/2012 |
| |
Price Basis |
Price Basis |
| Corn |
6.401/2 +39 N |
6.21 1/2 +27 1/2 N |
| Soybeans |
13.791/2 -81/2 N |
14.20 - 8 N |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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