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Illinois country grain prices were
lower on Friday afternoon.
Wheat futures weakened after
Russian officials announced there would be no wheat export
restrictions.
Technical trading at the Board of
Trade and profit taking ahead of the long Labor Day holiday
weekend also pushed prices lower for corn, soybeans and wheat.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids 6 to 10 cents lower at 7.85-8.09.
Soybean bids were 10 to 18 cents
lower at 17.18-17.42.
In Central Illinois country grain dealers quoted shelled corn
bids were 9 to 10 cents lower at 7.99-8.18.
Soybean bids were mostly 7 cents
lower at 17.64-17.92.
In the Southern part of the state, shelled corn bids were 9 to
10 cents lower at 8.02-8.41.
Soybean bids were 7 to 14 lower at
17.33-17.67.
Wheat bids were 13 to 15 cents
lower at 8.50-8.65.
Illinois grains-Grain futures ended higher, with soybeans
sharply higher.
Whether it was the thought of a
long holiday weekend or little new information to trade on,
trading activity was slow this week.
Good export interest and higher
than expected weekly export sales figures supported the rally in
soybeans.
Wheat futures gained strength from
thoughts that Russia would limit exports due to a short crop,
but Friday Russian officials told us that wouldn't happen.
Hurricane Isaac was also on the
minds of traders this week.
Thoughts of flooded corn and
soybean fields and down corn gave strength to futures prices.
The Illinois crop conditions declined slightly, with much of the
attention shifting to harvest progress.
According to the USDA's Illinois
Weather and Crops report, from the Illinois Field Office in
Springfield, the Illinois corn crop placed 4% in
the good range, down 1% from last week; there was 18% fair and
78% very poor to poor.
The condition of the state's
soybean crop went down by 3%, with 11% of the soybean crop in
the good to excellent range, with 38% fair and 51% in the very
poor to poor range.
The state's pasture land ratings
improved slightly by placing 3% in the good category, with 7%
fair and 90% in the very poor to poor range.
With most of the harvest activity
in the West Southwest and Southwest regions, corn
harvest had reached 6% complete for the state of Illinois,
compared to only 1% last year and the five year average.
The West Southwest and the
Southwest regions were both 17% complete.
The soybean crop continues to
mature and improving slightly from any late season rainfall.
Last week 20% of the crop had
started to turn yellow, compared to 7% for last year and the
five year average.
The trading in the cash grain market was moderate this week.
For the most part basis remained
weak. Due to sharply higher rates for barge freight and major
problems shipping down the Mississippi River, the river basis
was sharply lower.
Spot barge freight went up
110-125% for the Illinois River terminals from one Tuesday to
the next.
When the processors didn't have
the competition from the river, it allowed them to ease basis
lower.
An increased flow of 2012 corn to
the market due to harvest activity also helped to soften basis.
Hopefully rainfall from Hurricane
Isaac will increase water levels in the river systems at least
helping one of the problems for harvest.
The Central Illinois Soybean
Processors cash bids ended 30 to 38 cents higher at 18.03-18.25,
with basis down 10 to 18 cents ranging from +40X to +62X.
The Central Illinois Corn
Processors cash bids were mixed ranging from 8.33-8.48, with
basis mixed ranging from +22U to +37U.
At the Illinois River terminals
south of Peoria, cash corn bids ended 16 to 20 cents lower
ranging from 7.79-7.84, with basis down 18 to 22 cents at -32U
to -27U.
Cash soybean bids gained 5 to 7
cents to 17.48-17.55, with basis down 41 to 43
cents ranging from -15X to -8X.
New crop corn bids for October
delivery were 19 cents lower ranging from 7.86-7.88, with basis
12 cents weaker at -22Z to -20Z.
[to top of second column] |
New crop soybean bids were up 35
to 42 cents ranging from 17.57-17.58, with basis 6 to 13 cents
lower at -6X to -5X.
New crop wheat bids for delivery
July 2013 ended 7 to 15 cents stronger ranging from 8.17-8.18,
with basis 1 to 9 cents higher at -41N to -40N.
At the Illinois River terminals
north of Peoria, cash corn bids were mixed at 8.05-8.15, with
basis 1 to 5 cents lower at -6U to +4U.
Cash soybean bids gained 6 to 10
cents at 17.53-17.55, with basis dropping 38 to 42 cents ranging
from -10X to -8X.
New crop corn bids for October
delivery ended 8 to 11 cents lower at 7.84-7.91, with basis 1 to
4 cents lower ranging from -24Z to -17Z. New crop soybean bids
advanced 35 to 37 cents to 17.48-17.52, with basis down 11 to 13
cents at -15X to -11X.
New crop wheat bids for July 2013
delivery gained 6 cents to 8.16-8.18, with basis steady at -42N
to -40N.
At the St. Louis terminals cash
corn bids were 9 to 15 cents lower at 7.86-7.95, with soybeans
gaining 6 to 7 cents ranging from 17.60-17.74.
Cash bids for Soft Red Winter
wheat dropped 6 cents to 8.53-8.54, and cash sorghum bids were 6
cents lower to range from 7.13-7.14.
In northern and western Illinois, cash corn bids to producers at
country elevators were 1 to 4 cents lower at 7.95-8.15, with
central Illinois locations down 6 to 12 cents at 8.08-8.28 and
in southern Illinois bids were mixed to range from 8.11-8.51.
Cash soybean bids in northern and
western locations were mixed at 17.36-17.52 with
central Illinois bids gaining 23 to 31 cents at 17.68-18.03 and
southern Illinois bids were 12 to 14 cents higher at
17.47-17.74.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations increased 14 to 15
cents at 8.63-8.80.
New crop corn bids to producers at the country elevators in
northern and western Illinois were mixed ranging from 7.79-8.07,
with central Illinois locations down 2 to 3 cents at 7.94-8.25
and in southern Illinois bids fell 3 to 19 cents to 7.77-8.37.
New crop soybean bids for October
delivery in northern and western Illinois were up 46 to 48 cents
at 17.32-17.49, while central Illinois locations gained 50 to 56
cents at 17.45-17.66 and in southern Illinois bids were 49 to 54
cents higher at 17.44-17.69.
New crop wheat bids for June-July
2013 delivery ended 6 cents higher at 7.99-8.28.
_____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 |
7.92 - 8.09 |
17.18 - 17.30 |
|
|
WESTERN |
7.85 - 7.93 |
17.31 - 17.42 |
|
|
N. CENT. |
7.99 - 8.08 |
17.64 - 17.75 |
|
|
S. CENTRAL |
8.14 - 8.18 |
17.77 - 17.92 |
|
|
WABASH |
8.27 - 8.41 |
17.47 - 17.67 |
8.57 - 8.65 |
|
W.S. WEST |
8.02 - 8.15 |
17.33 - 17.53 |
8.50 - 8.64 |
|
L. EGYPT |
8.33 - 8.35 |
17.47 - 17.57 |
8.50 - 8.60 |
Central Illinois average price
Corn: 8.08 1/2 (+ 6 U)
Soybeans:
17.78 (+21 1/2 X)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
7.77 - 8.00 |
17.24 - 17.34 |
|
|
WESTERN |
7.72 - 7.84 |
17.18 - 17.33 |
|
|
N. CENT. |
7.85 - 8.00 |
17.38 - 17.47 |
|
|
S. CENTRAL |
8.06 - 8.16 |
17.46 - 17.59 |
|
|
WABASH |
8.10 - 8.20 |
17.45 - 17.57 |
8.23 - 8.28 |
|
W.S. WEST |
7.70 - 7.74 |
17.35 - 17.58 |
7.99
- 8.08 |
|
L. EGYPT |
8.20 - 8.25 |
17.47 - 17.57 |
8.23 - 8.28 |
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
8/30/2012 |
8/23/2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
8.18 + 6 1/2 U |
8.27 +18 U |
|
Soybeans |
17.85 1/2 +22 1/2 X |
17.53 1/2 +38 1/2 X |
Annual Comparison
|
|
July 2012 |
July 2011 |
| |
Price--Basis |
Price--Basis |
|
Corn |
7.85 +25 1/2 U |
6.96 +28 U |
|
Soybeans |
16.60 +23 X |
13.65 + 3 1/2 X |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield] |
