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Illinois grain prices in country elevators

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[April 20, 2013]  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 afternoon. Heavy flooding along the river systems combined with planting delays to support higher corn prices.

Soybean prices closed lower.

The concerns that the world economy is slowing pressured prices.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were 3 to 8 cents higher at 6.47-6.61.

Soybean bids were mostly 2 to 3 cents lower at 14.32-14.50.

In Central Illinois country grain dealers quoted shelled corn bids were mostly 2 to 4 cents higher at 6.47-6.64.

Soybean bids were 2 to 7 cents lower at 14.41-14.58.

In the Southern part of the state, shelled corn bids were mostly 3 to 8 cents higher at 6.44-6.77.

Soybean bids were mostly 3 to 8 cents lower at 14.46-14.69.

Wheat bids were 3 to 6 cents higher at 7.03-7.17.

Illinois grain markets ended the reporting week mixed.

A slowdown in nearby demand for corn, heavy rains and flooding in many areas of the country and the lower than expected GDP growth rate in China combined to pressure values.

Sharply lower gold prices and the lower stock market added pressure.

The USDA reported that only 2% of the corn crop had been planted, compared to 16%
last year and the 5 year average of 7%.

Soybean values remained strong during most of the week with light available supplies supporting strong prices.

The NOPA crush figures were slightly below estimates at 137.08 million bushels but up from 136.3 million last month.

Corn exports for the week were considered bearish totaling 417,200 tonnes while soybean exports were strong at 566,800 tonnes.

The trading in the cash grain market was slow during the week.

Heavy rains and flooding in most areas of the state and expected record high water levels on the river system curtailed interest in moving grain.

At the Central Illinois Soybean Processors cash bids were mixed as basis levels were moved from the May option to the July option.

The cash values ranged from 14.50-14.85 with a nearby basis of 60 to 90 cents over the July futures.

At Central Illinois Corn Processors, cash bids continued to decline ranging from 6.65-6.75 with a basis of 35 to 45 cents over the July futures.

Illinois River terminals south of Peoria, cash corn bids were down 6 1/2 to 11 1/2 cents at 6.59 1/2 -6.63 1/2 with the basis levels unchanged to down 5 at 15 to 19 cents over May.

Soybean bids were up 21 1/2 to 26 1/2 cents at 14.68 1/2-14.78 1/2.

Basis levels were down 2 to 7 cents at 38 to 48 cents over May.

New crop wheat values were up 31/2 cents at 7.07-7.08 with basis levels unchanged at option to 1 over the July futures.

At Illinois River terminals North of Peoria, corn bids declined 11 1/2 cents to 6.54 1/2-6.59 1/2 with the basis down 5 at 10 to 15 cents over the May.

Soybeans bids gained 26 1/2 cents per bushel with prices at 14.71 1/2-14.75 1/2 with basis levels unchanged to down 1 at 41 to 45 cents over the May.

[to top of second column]

New crop wheat gained 1 1/2 to 4 1/2 cents to close at 7.07-7.12.

With the basis mixed at option to 1 over the July.

At the St. Louis terminals cash corn bids ended 4 to 9 cents lower at 6.57-6.60, with soybeans 28 to 37 cents higher at 14.75-14.91.

Soft wheat prices advanced 11 cents to 7.27-7.28 and sorghum values declined 1 cent to 6.29-6.30.

In northern and western Illinois, cash corn bids to producers at country elevators were down 7 to 8 cents to 6.43-6.55, with central Illinois locations down 9 to 12 cents at 6.45-6.57 and in southern Illinois bids were mixed ranging from 6.38-6.70.

Cash soybean bids in northern and western locations were up 26 to 37 cents at 14.39-14.52, with central Illinois bids 29 to 31 cents higher at 14.51-14.60 and southern Illinois bids gained 33 to 35 cents at 14.50-14.67.

Cash wheat bids for Soft Red Winter wheat in southern Illinois locations ended 6 to 12 cents higher ranging from 6.94-7.11.

New crop wheat bids for June-July delivery in southern Illinois were up 3 to 6 cents ranging from 6.84-7.05.

___

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

6.47 - 6.57 14.35 - 14.45  

WESTERN 

6.51 - 6.61 14.32 - 14.50  

N. CENT.

6.50 - 6.64 14.47 - 14.55  

S. CENTRAL

6.47 - 6.59 14.44 - 14.58  

WABASH 

6.59 - 6.77 14.47 - 14.58 7.04 - 7.17

W.S. WEST

6.44 - 6.53 14.58 - 14.69 7.05 - 7.13

L. EGYPT

6.67 - 6.76 14.46 - 14.56  7.03 - 7.17

Central Illinois average price

Corn:  6.55 1/2 (+ 3 1/2 K)
Soybeans:
14.51 (+23 K) '


CONTRACT BIDS FOR NEW CROP 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

5.12 - 5.21 11.76 - 11.93  

WESTERN 

5.10 - 5.21 11.75 - 11.85  

N. CENT.

5.14 - 5.26 11.80 - 11.87  

S. CENTRAL

5.20 - 5.28 11.83 - 11.95  

WABASH 

5.19 - 5.29 11.83 - 11.90 6.89 - 6.96

W.S. WEST

5.13 - 5.24 11.85 - 11.98 7.00 - 7.10

L. EGYPT

5.24 - 5.32 11.80 - 11.93 6.92 - 7.00

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

4/18/2013

4/11/2013

  Price--Basis Price--Basis

Corn

6.50 1/2 + 6K  

6.61 1/2 +10 K

Soybeans

14.57 +26 1/2K

14.25 1/2 +23 1/2K

Annual Comparison

 

March 2013

April 2012

  Price--Basis Price--Basis

Corn

7.33 +16 1/2K

6.34 - 1/2K

Soybeans

14.62 +17K

14.23 -17 1/2K 

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

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