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Illinois country grain prices were
mixed on Friday afternoon.
Wheat futures were pushed higher
by speculative and technical buying at the Board of Trade.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids mixed at 7.80-7.96.
Soybean bids were 12 to 17 cents
lower at 17.04-17.16.
In Central Illinois country grain dealers quoted shelled corn
bids were mixed at 7.99-8.15.
Soybean bids were 9 to 12 cents
lower at 17.30-17.42.
In the Southern part of the state, shelled corn bids were mixed
at 7.97-8.27.
Soybean bids were 10 cents lower
at 17.09-17.37. Wheat bids were 11 to 13 cents higher at
8.68-8.87.
Illinois grains-Grain futures ended lower this week at the
Chicago Board of Trade.
In a holiday shortened week, there
was very little new information for traders to use.
The export market remains slow for
corn, but the USDA did report the sale of 217,424 tonnes of US
corn to an unknown destination on Thursday.
The export market had been slow as
well for wheat, but traders got excited Thursday with the sale
of 475,000 tonnes of wheat to Egypt from three countries,
Russia, Romania, and the Ukraine.
While it was not a sale of US
wheat, traders believed it was a good indication of world
demand.
Export interest has been good for
soybeans, but confirmed sales have been slim.
The corn harvest was picking up momentum in Illinois, especially
in the southern parts of the state.
According to the USDA's Illinois
Weather and Crops report, from the Illinois Field Office in
Springfield, the Illinois corn harvest had reached 12% complete,
compared to only 2% last year and 2% for the five year average.
The southern regions ranged from
15-38% done, compared to 1-9% for the northern areas of the
state.
The maturity of the soybean crop
was moving along at a normal pace.
Much of the soybean crop in the southern half of Illinois might
still see the beneficial effects of the rainfall last week due
to Hurricane Isaac.
Many areas in that part of the
state received 2 to 4 inches of rain over the Labor Day holiday
weekend.
There was 7% of the soybean crop
dropping leaves, compared to 3% last year and 6% for the five
year average.
There was 41% of the crop turning
yellow, compared to 20 % last year and 23% for the five year
average.
The state's pasture land ratings
improved again with the addition of more rainfall; there was 8%
in the good to excellent range, with 20% fair and 72% in the
very poor to poor range.
The trading in the cash grain market was slow to moderate this
week. For the most part basis remained weak, especially in cash
soybeans.
Many grain terminals and
processors changed their spot basis month from September (U) to
December (Z), so we will not be able to compare basis for corn
and wheat this week.
Also this week, we are changing
from October delivery bids to January 2013 for our deferred
bids.
As the corn harvest starts to gain momentum, there were more
items in the news this week concerning aflatoxin in the 2012
corn crop. Most of the grain elevators, whether it's country,
terminal or processor are all testing for aflatoxin and trying
to manage the different levels in the loads received at their
facility.
The Central Illinois Soybean
Processors cash bids ended 46 to 48 cents lower at 17.57-17.77,
with basis down 30 to 32 cents ranging from +10X to +30X.
The Central Illinois Corn
Processors cash bids were down 22 to 27 cents ranging from
8.06-8.26, with basis ranging from +8Z to +28Z.
At the Illinois River terminals
south of Peoria, cash corn bids ended 6 cents lower ranging from
7.73-7.78, with basis at -25Z to -20Z.
Cash soybean bids lost 28 to 30
cents to 17.18-17.27, with basis down 12 to 14 cents ranging
from -29X to -20X.
New crop corn bids for January
2013 delivery ranged from 7.99-8.07, with basis at -2H to +6H.
Soybeans for January 2013 delivery ranged from 17.57-17.64, with
basis at +11F to +18F.
New crop wheat bids for delivery
July 2013 ended 7 to 12 cents stronger ranging from 8.24-8.30,
with basis 1 to 6 cents higher at -40N to -34N.
At the Illinois River terminals
north of Peoria, cash corn bids dropped 22 to 25 cents to
7.83-7.90, with basis at -15Z to -8Z.
Cash soybean bids declined 22 to
23 cents at 17.31-17.32, with basis dropping 6 to 7 cents
ranging from -16X to -15X.
Corn bids for January 2013
delivery ranged from 7.94-8.01,with basis ranging from -7H to
option H.
Soybean bids for January 2013
delivery ranged from 17.56-17.62, with basis at +10F to +16F.
New crop wheat bids for July 2013 delivery gained 6 to 7 cents
to range from 8.23-8.24, with basis steady to 1 cent higher at
-41N to -40N.
At the St. Louis terminals cash
corn bids were 12 to 16 cents lower at 7.74-7.79, with soybeans
losing 33 to 36 cents ranging from 17.27-17.38.
Cash bids for Soft Red Winter
wheat increased 17 cents to 8.70-8.71, and cash sorghum bids
were 5 cents higher to range from 7.18- 7.19.
In northern and western Illinois, cash corn bids to producers at
country elevators were 8 to 15 cents lower at 7.80-8.07, with
central Illinois locations down 11 to 18 cents at 7.90-8.17 and
in southern Illinois bids dropped 15 to 25 cents to range
from 7.96-8.26.
Cash soybean bids in northern and
western locations were down 19 to 20 cents at 17.16-17.33 with
central Illinois bids dropping 26 to 50 cents at 17.42-17.53 and
southern Illinois bids were 27 to 28 cents lower at 17.19-17.47.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations fell 6 cents to
8.57-8.74.
Corn bids for January 2013 delivery at the country elevators in
northern and western Illinois ranged from 7.75-7.98, with
central Illinois locations at 7.96-8.21 and in southern Illinois
bids ranged from 7.80-8.31.
January 2013 delivery soybean bids
in northern and western Illinois were 17.20-17.36, while central
Illinois locations ranged from 17.32-17.61 and in southern
Illinois bids ranged from 17.36-17.63.
New crop wheat bids for June-July
2013 delivery in southern Illinois ended 7 cents
higher at 8.06-8.35.
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