Illinois grain prices in country elevators

[September 13, 2012]  SPRINGFIELD -- This is Wednesday's report of the grain prices and trends, prepared by the USDA and the Illinois Department of Agriculture.

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Illinois country grain prices were mixed on Wednesday afternoon, with soybeans and wheat higher and corn lower.

The average yield for the US corn and soybean crop was estimated to be slightly lower than the USDA's forecast in August.  Today, the USDA estimated the US corn crop to average 122.8 bushels per acre, with the US soybean crop to average 35.5 bushels per acre.

For Illinois farmers their corn was expected to average 110 bushels per acre, down from 116 last month.

Soybeans were expected to yield 37 bushels per acre, the same as last month.

In Northern and Western Illinois country grain dealers quoted shelled corn bids 8 to 11 cents lower at 7.44-7.78.

Soybean bids were mostly 40 to 48 cents higher at 17.05-17.23.

In Central Illinois country grain dealers quoted shelled corn bids were 7 to 10 cents lower at 7.71-7.86.

Soybean bids were 44 to 46 cents higher at 17.46-17.61.

In the Southern part of the state, shelled corn bids were 13 cents lower at 7.57-7.90. Soybean bids were 44 to 48 cents higher at 17.26-17.36.

Wheat bids were 6 cents higher at 8.53-8.75.

Commercial grain prices paid farmers by Interior Illinois Country Elevators after 2.00 p.m. Wednesday are listed below in dollars per bushel:

AREA	US 2 CORN	US 1 SOYBEANS	US 2 SOFT WHEAT
NORTHERN	7.64 - 7.78	17.16 - 17.22
WESTERN	7.44 - 7.56	17.05 - 17.23
N. CENT.	7.71 - 7.79	17.46 - 17.48
S. CENTRAL	7.73 - 7.86	17.48 - 17.61
WABASH	7.80 - 7.90	17.30 - 17.36	8.56 - 8.60
W.S. WEST	7.57 - 7.81	17.26 - 17.29	8.53 - 8.75
L. EGYPT	7.84 - 7.90	17.31 - 17.36	8.60 - 8.72

Central Illinois average price

Corn: 7.78 1/2 (+ 9 Z)
Soybeans: 17.53 1/2 (+ 8 X)

CONTRACT BIDS FOR NEW CROP 2012 DELIVERY

AREA	US 2 CORN	US 1 SOYBEANS	***US 2 SOFT WHEAT
NORTHERN	7.55 - 7.74	17.20 - 17.31
WESTERN	7.49 - 7.60	17.26 - 17.35
N. CENT.	7.75 - 7.86	17.37 - 17.47
S. CENTRAL	7.76 - 7.92	17.39 - 17.50
WABASH	7.90 - 8.03	17.30 - 17.46	8.32 - 8.36
W.S. WEST	7.37 - 7.42	17.44 - 17.60	8.17 - 8.18
L. EGYPT	7.96 - 7.98	17.47 - 17.61	8.28 - 8.36

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of	9/6/2012	8/30/2012
	Price--Basis	Price--Basis
Corn	8.03 1/2 +5Z	8.18 + 6 1/2 U
Soybeans	17.47 1/2 + 1/2 X	17.85 1/2 +22 1/2 X

Annual Comparison

	August 2012	August 2011
	Price--Basis	Price--Basis
Corn	8.15 +12 U	7.30 +16 U
Soybeans	17.09 +44 X	13.59 -11 X

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