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Illinois country grain prices were
mostly lower on Friday afternoon.
Technical trading at the Board of
Trade, and traders evening positions ahead of the long holiday
weekend pushed grain prices lower.
Demand for soybeans remains good,
as China purchased 110,000 tonnes of US soybeans
on Friday morning.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were mostly 18 to 21 cents lower at 5.67-5.95.
Soybean bids were 7 to 8 cents
lower at 14.47-14.59.
In Central Illinois country grain dealers quoted shelled corn
bids were mostly 12 to 20 cents lower at 5.71-6.05.
Soybean bids were 8 to 11 cents
lower at 14.76-14.93.
In the Southern part of the state, shelled corn bids were mostly
12 to 22 cents lower at 5.55-5.72.
Soybean bids were mostly 10 to 12
cents
lower at 14.35-14.46.
Wheat bids were steady to 2 cents
higher at
6.08-6.30.
Grain futures ended higher this week at the Board of Trade, with
soybeans sharply higher.
Dry weather conditions in August
have started to take their toll on the crop condition ratings
and the hot temperatures this week added the fuel to drive grain
prices higher.
Traders believe potential for a
smaller soybean crop this year could cut into the carryout
estimates by the USDA.
While our carryout was very low
this year, potentially with the smaller crop could be low again.
This week's Illinois Weather and Crops report, released by the
Illinois Field office of the National Ag Statistics Service, saw
crop conditions fall again due to dry soil conditions.
As of August 25th, the Illinois
corn crop placed 59% in the good to excellent category, down 5%
from one week ago.
The Illinois soybean crop was 5%
lower from last week at 60% good to excellent category.
Topsoil moisture declined 7% with
31% adequate, 0% surplus and 69% very short to short.
This week there was 88% in the
dough stage, compared to 98% last year and the five year average
of 88%.
There was now 29% in the dent
stage, compared to 89% last year and 56% for the five year
average.
The southeast region still led the
Illinois regions with 59% of their corn crop in the dent stage,
followed by west southwest with 41% and the west region with 40%
in the dent stage.
There was 94% of the state's
soybean crop blooming, compared to 99% last year and 98% for the
five year average.
There was 83% of the state's
soybean crop setting pods, compared to 97% last year and 91% for
the five year average.
Pasture conditions continued to
fall due to the dry and hot weather conditions, with 23% very
poor to poor, with 35% fair and 42% rated good to excellent.
The trading in the cash grain market was slow to moderate this
week. Cash basis levels were very volatile again this week.
The soybean basis was fairly
stable, but the corn basis was not.
Corn processors were still in need
of old crop supplies and kept basis up, especially at the
beginning of the week.
The cash corn basis did weaken
near the end of the week.
Both corn processors and river
terminals are watching inventories very closely and are
monitoring the arrival of new crop supplies very closely.
If you have corn or soybeans to
sell, it would pay dividends to call and check on delivery times
and the quick shipment bids.
The Central Illinois Soybean
Processors cash bids were up 82 cents to 15.08-15.28, with basis
steady ranging from +140X to +160X.
At the Central Illinois Corn
Processors cash bids were 54 to 55 cents lower ranging from
5.97-6.07, with basis 64 to 65 cents lower at +100U to +110U.
At the Illinois River terminals
south of Peoria, cash corn bids were mixed ranging from
5.82-6.21, with basis mixed ranging from +85U to +124U.
[to top of second
column] |
Cash soybean bids gained 92 to 98
cents with bids ranging from 14.48-14.84, with basis up 15 to 24
cents ranging from +85X to +124X.
Wheat bids were 11 to 15 cents
higher ranging from 6.06-6.15, with basis steady to 4 cents
higher at -35U to -26U.
At the Illinois River terminals
north of Peoria, cash corn bids dropped 12 to 15 cents to
6.12-6.27, with basis down 15 to 22 cents at +115U to +130U.
Cash soybean bids were up 87 cents
to range from 14.88-14.93, with basis up 5 cents ranging from
+120X to +125X.
Wheat bids were 27 to 29 cents
higher ranging from 6.16-6.29, with basis up 16 to 18 cents at
-25U to -12U.
At the St. Louis terminals cash
corn bids closed 28 to 33 cents higher ranging from 5.77-6.00,
with soybeans up .77 to 1.38 ranging from 14.47-15.20.
Cash bids for Soft Red Winter
wheat were 16
cents higher at 6.35-6.36 and cash sorghum bids were 20 cents
higher at 5.05-5.06.
In northern and western Illinois, cash corn bids to producers at
country elevators were steady to 11 cents lower at 5.80-6.20,
with central Illinois locations 15 to 33 cents lower at
5.74-6.23 and in southern Illinois bids were 6 to 14 cents
higher ranging from 5.62-6.07.
Cash soybean bids in northern and
western locations were up 74 to 89 cents at 14.55-14.66, with
central Illinois bids 79 to 88 cents higher at 14.88-15.04 and
southern Illinois bids were up 85 to 89 cents ranging from
14.45-14.76.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois gained 10 to 14 cents ranging
from 6.06-6.30.
___
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 |
5.86 - 5.95 |
14.49 - 14.55 |
|
|
WESTERN |
5.67 - 5.82 |
14.47 - 14.59 |
|
|
N. CENT. |
5.88 - 6.05 |
14.76 - 14.87 |
|
|
S. CENTRAL |
5.71 - 5.82 |
14.84 - 14.93 |
|
|
WABASH |
5.57 - 5.67 |
14.35 - 14.38 |
6.11 - 6.22 |
|
W.S. WEST |
5.64 - 5.72 |
14.36 - 14.46 |
6.17 - 6.30 |
|
L. EGYPT |
5.55 - 5.65 |
14.37 - 14.43 |
6.08 - 6.18 |
Central Illinois average price
Corn: 5.88 (+ 93 U)
Soybeans:
14.84 1/2 (+127 X)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
4.57 - 4.71 |
13.27 - 13.38 |
|
|
WESTERN |
4.57 - 4.70 |
13.20 - 13.32 |
|
|
N. CENT. |
4.56 - 4.66 |
13.32 - 13.49 |
|
|
S. CENTRAL |
4.57 - 4.67 |
13.33 - 13.46 |
|
|
WABASH |
4.56 - 4.67 |
13.38 - 13.48 |
|
|
W.S. WEST |
4.55 - 4.68 |
13.41 - 13.57 |
|
|
L. EGYPT |
4.56 - 4.57 |
13.35 - 13.48 |
|
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
8/29/2013 |
8/22/2013 |
| |
Price--Basis |
Price--Basis |
|
Corn |
5.98
1/2 +100U |
6.22
1/2 +135U |
|
Soybeans |
14.96 +128X |
14.12 1/2 +126X |
Annual Comparison
|
|
July
2013 |
August 2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
6.60
1/2 +132U |
8.15 +11 1/2U |
|
Soybeans |
15.19 +85 1/2Q |
17.09 +44 1/2X |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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