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Illinois country grain prices were
lower on Friday afternoon, with soybeans sharply lower. Fund
selling at the Board of Trade pushed soybean futures lower on
Friday.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 5 cents lower at 5.92-6.05. Soybean bids
traded 50 cents lower at 13.64-13.83.
In Central Illinois country grain dealers quoted shelled corn
bids were 6 to 10 cents lower at 6.00-6.16. Soybean bids were 49
cents lower at 13.82-13.94.
In the Southern part of the state, shelled corn bids were 7 to
10 cents lower at 6.01-6.27. Soybean bids were 50 cents lower at
13.89-14.08. Wheat bids were 3 to 6 cents lower at 5.70-5.95.
Illinois grains- Grain futures
ended lower. Early in the week, many traders started to take
profits in positions, which led to lower futures prices. Both
speculator and fund selling weighed on corn, wheat and soybean
values.
Many traders had their eye focused
on Thursday morning's release of the USDA's updated Supply
Demand numbers. As traders reacted to the report, corn went
sharply lower and soybeans sharply higher.
In the USDA's report, the corn
carryout for the 2011-2012 crop years was increased to 851
million bushels when traders thought it would be steady to lower
and this caused corn values to weaken.
On the other hand, traders
believed the soybean carryout would not have been estimated as
low as 210 million bushels and this caused soybean futures to
move higher.
Higher than expected weekly
exports sales figures for soybeans also gave a boost to soybean
values, with sales of 1.82 million metric tonnes.
The planting pace in Illinois slowed last week due to wet soil
conditions in several areas of the state.
According to the Illinois Weather
and Crops report, released by the Illinois Field Office of NASS
in Springfield, Illinois, corn planting was up to 89% complete,
compared to 79% last week and the five year average of 47%.
Emergence of the corn crop was running far ahead of schedule.
There was 64% of the crop emerged, compared to 34% last week and
the five year average of 18%.
Soybean planting had reached 21%
done, compared to 13% last week and 7% for the five year
average.
Farmers in the southeastern region
of the state had stopped planting activity due to dry soil
conditions, but soil conditions in most of the state were good.
Topsoil moisture was rated 26% surplus, with 68% adequate and
only 6% short.
The condition of the Illinois corn
crop was very good, with 78% placed in the good to excellent
category, with 20% fair and only 2% in poor shape.
There was 82% of the states wheat
crop in good to excellent condition, with 14% fair and 4% in
very poor to poor condition.
The trading in the cash grain market was slow to moderate. Cash
basis ended mixed for the week, with the processor basis for
corn and soybeans mostly higher and the river terminals ending
sharply lower in many cases.
At the Central Illinois Soybean
Processors cash bids ended 15 to 21 cents lower at
14.55-14.68, with basis mixed ranging from option N to +13N.
The Central Illinois Corn
Processors cash bids were 17 to 19 cents lower with bids ranging
from 6.32-6.47, and basis ended 8 to 10 cents higher at +45N to
+60N.
At the Illinois River terminals
south of Peoria, cash corn bids ended 30 to 36 cents higher
ranging from 6.20-6.27, with basis down 3 to 9 cents at +33N to
+40N.
Cash soybean bids dropped 31 to 32
cents at 14.43-14.45, with basis falling 13 to 14 cents to range
from -12N to -10N.
New crop corn bids for October
delivery were down 22 cents to range from 4.84-4.88, with basis
unchanged at -23Z to -19Z.
New crop soybean bids fell 5 to 11
cents to 13.45-13.49, with basis mixed -14X to -10X.
[to top of second column] |
New crop wheat bids for July 2012
delivery were 14 cents lower ranging from 5.91-6.01, with basis
steady ranging from -10N to option N.
At the Illinois River terminals
north of Peoria, cash corn bids declined 32 to 37 cents at
6.15-6.20, with basis down 4 to 9 cents at +28N to +33N.
Cash soybean bids dropped 29 to 36
cents lower at 14.36-14.45, with basis down 11 to 18 cents to
-19N to -10N.
New crop corn bids for October
delivery ended 20 to 24 cents lower at 4.82-4.84, with basis
mixed ranging from -25Z to -23Z.
New crop soybean bids lost 9 to 11
cents to 13.39-13.43, with basis steady to 2 cents lower at -20X
to -16X.
New crop wheat bids were down 13
cents to 5.97-5.98, with basis up 1 cent at -4N to -3N.
At the St. Louis terminals cash
corn bids were 34 to 37 cents lower at 6.36-6.37, with soybeans
down 25 cents from 14.70-14.71.
Cash bids for Soft Red Winter
wheat dropped 14 cents to 6.16-6.17, with cash sorghum bids down
31 cents to range from 5.53-5.54.
In northern and western Illinois, cash corn bids to producers at
country elevators were 21 to 26 cents lower at 5.97-6.10, with
central Illinois locations down 20 to 21 cents at 6.06-6.26 and
in southern Illinois bids lost
16 to 28 cents to range from 6.11-6.34.
Cash soybean bids in northern and
western were down 24 to 28 cents at 14.14-14.33 with central
Illinois bids losing 21 to 22 cents to 14.31-14.43 and southern
Illinois decreased 18 to 19 cents at 14.39-14.58.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations ended 12 to 16 cents
lower to range from 5.76-5.98.
New crop corn bids to producers at the country elevators in
northern and western Illinois were 22 cents lower to range from
4.63-4.79, with central Illinois locations down 22 cents at
4.70-4.85 and in southern Illinois bids fell 23 to 24 cents to
4.77-4.89.
New crop soybean bids for October
delivery
in northern and western Illinois were 9 to 10 cents lower at
13.14-13.24, with central Illinois locations down 4 to 9 cents
to 13.18-13.34 and in southern Illinois bids dropped 7 to 9
cents at 13.24-13.47.
New crop wheat bids for July 2012
delivery in southern Illinois ended 15 to 16 cents lower at
5.76-6.03.
___
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 |
5.92 - 6.03 |
13.64 - 13.76 |
|
| WESTERN |
5.94 - 6.05 |
13.73 - 13.83 |
|
| N. CENT. |
6.00 - 6.11 |
13.82 - 13.91 |
|
| S. CENTRAL |
6.13 - 6.16 |
13.83 - 13.94 |
|
| WABASH |
6.10 - 6.18 |
13.90 - 14.01 |
5.70 - 5.82 |
| W.S. WEST |
6.01 - 6.12 |
13.89 - 13.93 |
5.85 - 5.94 |
| L. EGYPT |
6.13 - 6.27 |
13.96 - 14.08 |
5.82 - 5.95 |
Central Illinois average price
Corn: 6.08 (+27 N)
Soybeans: 13.88 (-18 N)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
| NORTHERN |
4.62 - 4.75 |
12.75 - 12.76 |
|
| WESTERN |
4.61 - 4.69 |
12.76 - 12.86 |
|
| N. CENT. |
4.68 - 4.76 |
12.80 - 12.85 |
|
| S. CENTRAL |
4.68 - 4.83 |
12.81 - 12.91 |
|
| WABASH |
4.77 - 4.89 |
12.90 - 12.96 |
5.70 - 5.82 |
| W.S. WEST |
4.80 - 4.87 |
13.01 - 13.04 |
5.92 - 6.01 |
|
L. EGYPT |
4.85 - 4.86 |
12.87 - 12.96 |
5.72 - 5.91 |
***June/July 2012 Delivery
Cent. Ill. Average Price at Country
Elevators
| Week of |
5/10/2012 |
5/3/2012 |
| |
Price Basis |
Price Basis |
| Corn |
6.16 28 1/2 N |
6.36 1/2 22N |
| Soybeans |
14.37 -18N |
14.58 1/2 -15N |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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