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Illinois grain prices in country elevators

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[November 17, 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 mixed on Friday, with corn higher and wheat and soybeans lower.

Corn values were supported by a more positive outlook for the ethanol industry. Beneficial rains on the newly planted Brazilian soybean crop was a primary cause for the sell-off.

In Northern and Western Illinois country grain dealers quoted shelled corn bids 5 to 7 cents higher at 7.06-7.21.

Soybean bids were 19 to 22 cents lower at 13.48-13.69.

In Central Illinois country grain dealers quoted shelled corn bids were 5 to 7 cents higher at 7.19-7.33.

Soybean bids were 19 to 24 cents lower at
13.64-13.78.


In the Southern part of the state, shelled corn bids were mostly 5 to 7 cents higher at 7.07-7.43.

Soybean bids were 19 to 25 cents lower at 13.65-13.98.

Wheat bids were 5 to 8 cents lower at 8.18-8.33.

Illinois grains and soybean bids closed moderate to sharply lower.

The grains opened Monday in a negative tone following a bearish USDA report last Friday.

Additional pressure for corn and soybeans came from favorable weather in South America, along with economy worries and uncertainties compelling the markets.

The stock market was lower with crude oil having sharp losses and precious metals also lower.

Chicago December corn futures trended 20
cents lower at 7.21.

January soybean futures closed .94 cents lower at 14.02.

Soybean futures were sharply lower for the week in response early in the week from the bearish USDA Supply and Demand Reports.

However, some positive news from overnight export announcement and bullish NOPA crush numbers limit the losses for soybeans.

NOPA crush came in well above estimates at 153.54 million bushels as compared to 119.73 in September.

Wheat also saw some support from lower winter wheat crop ratings which came in at 36 percent good to excellent, down 3 percent from last week.

Wheat was 45-50 cents lower.

Corn was mostly 16-22 cents lower.

Cash basis at Illinois River terminals started the week higher, but ended lower on concerns of river closures or reduced traffic on the Mississippi River south of St Louis.

Lower water levels from the drought are blamed for the closure.

The trading in the cash grain market was slow.

The Central Illinois Soybean Processors cash
bids dropped 91 to 93 cents to 14.17 to 14.22, with basis 1 to 3 cents higher at +14F to +17F.

The Central Illinois Corn Processors cash bids were down 20 cents ranging from 7.21-7.31,

with basis steady ranging from option Z to +10Z.

At the Illinois River terminals south of Peoria,
cash corn bids ended 3 to 5 cents lower ranging from 7.22-7.31, with basis 15 to 20 cents higher at 1Z to 10Z.

Cash soybean bids lost 88 to 91 cents at 14.05-14.14, with basis 3 to 6 cents higher ranging from 3F to 12F.

New crop wheat bids for delivery in July 2013 ended 40 to 41 cents lower ranging from 8.23-8.24, with basis steady to 1 cents higher at -31N to -30N.

At the Illinois River terminals north of Peoria, cash corn bids fell 8 to 9 cents to 7.09-7.23, with basis 2 to 13 cents higher at -12Z to 2Z.

[to top of second column]

Cash soybean bids were down 96 to 97 cents to 13.97-14.02, with basis 2 to 3 cents lower ranging from -5F to Opt F.

New crop wheat bids for July 2013 delivery lost 41 cents to range from 8.28-8.30, with basis steady at -27N to -25N.

At the St. Louis terminals cash corn bids were steady to 34 cents lower at 6.92-7.42, with soybeans down 84 cents ranging from 14.26-14.27.

Cash bids for Soft Red Winter wheat lost
50 cents to 8.40-8.41 and cash sorghum bids were 9 cents lower to range from 6.81-6.82.

In northern and western Illinois, cash corn bids to producers at country elevators were 18 to 23 cents lower at 7.00-7.15, with central Illinois locations down 18 to 21 cents at 7.13-7.27 and in southern Illinois bids were steady to 18 cents lower to range from 7.05-7.37.

Cash soybean bids in northern and western locations were 90 to 93 cents lower at 13.70-13.88 with central Illinois bids down 94 cents at 13.84-13.97 and southern Illinois bids fell 82 to 89 cents to range from 13.87-14.17.

Cash wheat bids for Soft Red Winter wheat in southern Illinois locations lost 60 to 62 cents to 8.25-8.41.

New crop wheat bids for June-July delivery in southern Illinois lost 39 to 41 cents to range from 8.00-8.25.

___

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

7.10 - 7.21 13.48 - 13.60  

WESTERN 

7.06 - 7.20 13.60 - 13.69  

N. CENT.

7.19 - 7.30  13.64 - 13.76  

S. CENTRAL

7.22 - 7.33 13.65 - 13.78  

WABASH 

7.29 - 7.43 13.70 - 13.90 8.23 - 8.33

W.S. WEST

7.07 - 7.17 13.82 - 13.95  8.31 - 8.32

L. EGYPT

7.35 - 7.43  13.65 - 13.98 8.18 - 8.23

Central Illinois average price

Corn: 7.26 (- 1 Z)
Soybeans:
13.71 (-12 F)

CONTRACT BIDS FOR JANUARY 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

7.26 - 7.42 13.50 - 13.63  

WESTERN 

7.14 - 7.28 13.65 - 13.68  

N. CENT.

7.26 - 7.36 13.71 - 13.83  

S. CENTRAL

7.33 - 7.45 13.76 - 13.86  

WABASH 

7.39 - 7.53 13.79 - 13.90 8.06 - 8.16

W.S. WEST

7.12 - 7.23 13.79 - 13.90

8.00 - 8.06

L. EGYPT

7.47 - 7.56

13.73 - 13.88

8.05 - 8.14

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

11/15/2012

11/8/2012

  Price--Basis Price--Basis

Corn

7.20 - 1Z

7.39 1/2 + 2 1/2Z

Soybeans

13.90 1/2 -11F

14.84 1/2 -11 X

Annual Comparison

 

October 2012

October 2011

  Price--Basis Price--Basis

Corn

7.48 - 2Z

6.23 - 9Z

Soybeans

15.27 -12X

11.87 -27X

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

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