|
 (Copy)
Illinois country grain prices were
mixed on Friday afternoon, with wheat and corn higher and
soybeans sharply lower.
Dry soil conditions in some areas
of the US and Russia supported stronger wheat futures.
Technical selling and sharply
lower soybean meal futures weakened soybean values.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids mostly 8 to 11 cents higher at 6.50-6.61.
Soybean bids traded 33 to 34 cents
lower at 13.80-13.89.
In Central Illinois country grain
dealers quoted shelled corn bids were 9 to 11 cents higher at
6.54-6.75.
Soybean bids were 28 to 29 cents
lower at 13.86-14.00.
In the Southern part of the state, shelled corn bids were 9
cents higher at 6.67-6.86.
Soybean bids were 33 to 36 cents
lower at 13.90-14.12.
Wheat bids were 39 to 40 cents
higher at 6.77-6.97.
Illinois grains-Grain futures
ended mixed, with corn and wheat values sharply higher and
soybeans slightly lower.
Soybean futures had several days
of lower closes and funds liquidated some of their long
positions in soybeans.
Prices recovered, but still closed
lower for the week.
Export interest and export sales
to China helped to lift soybean futures.
On Thursday, the USDA announced
the sale of 480,000 tonnes of US soybeans to China.
Sales of US corn to China also
helped to lift corn bids this week.
Wednesday's corn market was given
a boost from the sale of 900,000 tonnes US corn to China. So the
Chinese purchases were very influential in boosting corn and
soybean
values this week.
Wheat futures were supported by
gains in the corn and soybeans, plus dry weather conditions for
the Australian and Russian crops, but also dry soil conditions
are also starting to affect the wheat crop in Kansas.
According to the USDA's Crop
Conditions report, the winter wheat crop placed 60% of the crop
in the good to excellent category, which was 3% lower than last
week.
The Kansas crop was lowered from
60% in the good to excellent range down to 53%.
While the corn planting pace has been very good for Illinois
producers this year, it has not been a record pace.
In 2004 and 2005 as of May the
13th, Illinois producers had planted 97% of the state's corn
crop.
According to the USDA's Illinois
Weather and Crops report, from the Illinois Field Office
in Springfield, Illinois farmers had planted 95% of the crop,
compared to 59% last year and 65% for the five year average. We
had also reached the 95% planted stage in 2010.
There was 76% of the crop emerged,
compared to only 19% last year and 35% for the five year
average.
Soybean planting was also ahead of
schedule with 44% of the crop planted, compared to 12% last year
and the five year average of 21%.
There was 14% of the crop emerged,
compared to 1% last year and 3% for the five year average.
The wheat crop has been maturing
ahead of the normal pace too. There was 92% of the wheat crop
headed, compared to 50% last year and the five year average of
48%.
As of May 13th, there was already
20% of the crop turning yellow, compared to less than 1% for
last year and the five year average.
Many country elevators and
terminals expect the wheat harvest to be 1 to 2 weeks early
this year.
The wheat tour went through
Illinois this week and the Illinois wheat yield was estimated to
be 56 bushels per acres for the 2012 crop.
The trading in the cash grain market was slow to moderate. Good
demand for
grain at the gulf points and light farmer selling has combined
to add excitement to both the cash corn and soybean basis levels
at the river terminals.
The river basis ended sharply
higher for the week.
At the Central Illinois Soybean
Processors cash bids ended 14 to 15 cents lower at 14.41-14.53,
with basis 2 to 3 cents higher ranging from +3N to +15N.
The Central Illinois Corn
Processors cash bids were 38 cents higher with bids ranging from
6.70-6.85, and basis steady at +45N to +60N.
[to top of second column] |
At the Illinois River terminals
south of Peoria, cash corn bids ended 45 to 46 cents higher
ranging from 6.65-6.73, with basis up 7 to 8 cents at +40N to
+48N.
Cash soybean bids increased 2 to 5
cents at 14.45-14.50, with basis gaining 19 to 22 cents to range
from +7N to +12N.
New crop corn bids for October
delivery were up 22 to 24 cents to range from 5.06-5.12, with
basis up 1 to 3 cents at -22Z to -16Z.
New crop soybean bids fell 52 to
58 cents to 12.87-12.97, with basis mixed -19X to -9X. New crop
wheat bids for July 2012 delivery were 57 to 59 cents higher
ranging from 6.50-6.58, with basis steady to 2 cents stronger
ranging from -8N to option N.
At the Illinois River terminals
north of Peoria, cash corn bids gained 46 cents at 6.61-6.66,
with basis up 8 cents at +36N to +41N.
Cash soybean bids were mixed at
14.43-14.46, with basis up 18 to 24 cents to +5N to +8N.
New crop corn bids for October
delivery ended 21 to 22 cents higher at 5.03-5.06, with basis
steady to 1 cent higher ranging from -25Z to -22Z.
New crop soybean bids lost 53 to
54 cents to 12.86-12.89, with basis steady to 1 cent lower at
-20X to -17X.
New crop wheat bids were up 56 to
57 cents to 6.53-6.55, with basis steady to 1 cent lower at -5N
to -3N.
At the St. Louis terminals cash
corn bids were 40 to 46 cents higher at 6.76-6.83, with soybeans
down 4 to 6 cents from
14.64-14.67.
Cash bids for Soft Red Winter
wheat gained 58 cents to 6.74-6.75, with cash sorghum bids up 39
cents to range from 5.92-5.93.
In northern and western Illinois, cash corn bids to producers at
country elevators were 42 to 45 cents higher at 6.39-6.55, with
central Illinois locations up 38 to 39 cents at 6.45-6.64 and in
southern Illinois bids
gained 41 to 47 cents to range from 6.58-6.75.
Cash soybean bids in northern and
western were down 1 to 10 cents at 14.13-14.23 with central
Illinois bids losing 14 to 17 cents to 14.14-14.29 and southern
Illinois decreased 13 cents at 14.26-14.45.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations ended 60 to 63 cents
higher to range from 6.39-6.58.
New crop corn bids to producers at the country elevators in
northern and western Illinois were 19 to 20 cents higher to
range from 4.83-4.98, with central Illinois locations up 21
cents at 4.91-5.06 and in southern
Illinois bids gained 22 to 23 cents to 4.99-5.12.
New crop soybean bids for October
delivery in northern and western Illinois were 50 to 53 cents
lower at 12.61-12.74, with central Illinois locations down 50 to
51 cents
to 12.67-12.84 and in southern Illinois bids dropped 52 to 54
cents at 12.72-12.93.
New crop wheat bids for July 2012
delivery in southern Illinois ended 61 to 63 cents stronger at
6.37-6.66.
___
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 |
6.50 - 6.57 |
13.80 - 13.86 |
|
| WESTERN |
6.51 - 6.61 |
13.81 - 13.89 |
|
| N. CENT. |
6.54 - 6.65 |
13.86 - 13.95 |
|
| S. CENTRAL |
6.67 - 6.75 |
13.88 - 14.00 |
|
| WABASH |
6.70 - 6.78 |
13.90 - 14.00 |
6.77 - 6.83 |
| W.S. WEST |
6.67 - 6.73 |
14.00 - 14.12 |
6.85 - 6.97 |
| L. EGYPT |
6.72 - 6.86 |
13.95 - 14.09 |
6.80 - 6.85 |
Central Illinois average price
Corn: 6.64 1/2 (+29 N)
Soybeans: 13.93 (-12 N)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
| NORTHERN |
4.94 - 5.07 |
12.42 - 12.52 |
|
| WESTERN |
4.95 - 5.04 |
12.46 - 12.56 |
|
| N. CENT. |
5.00 - 5.12 |
12.51 - 12.63 |
|
| S. CENTRAL |
5.01 - 5.15 |
12.48 - 12.65 |
|
| WABASH |
5.09 - 5.17 |
12.55 - 12.63 |
6.74 - 6.85 |
| W.S. WEST |
5.17 - 5.21 |
12.69 - 12.75 |
6.83 - 6.94 |
|
L. EGYPT |
5.17 - 5.18 |
12.54 - 12.63 |
6.83
- 6.94 |
***June/July 2012 Delivery
Cent. Ill. Average Price at Country
Elevators
| Week of |
5/17/2012 |
5/10/2012 |
| |
Price Basis |
Price Basis |
| Corn |
6.54 1/2 +29 1/2 N |
6.16 28 1/2 N |
| Soybeans |
14.21 1/2 -16 1/2 N |
14.37 -18N |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
 |
