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Illinois grain prices in country elevators

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[January 05, 2013]  SPRINGFIELD -- This is Friday'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 lower on Friday afternoon, with corn moderately lower and soybeans and wheat sharply lower.

Beneficial crop weather for the South American crops and slower than expected export sales weighted on soybean futures.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were mixed at 6.66-6.95.

Soybean bids were mostly 14 to 18 cents lower at 13.47-13.68.

In Central Illinois country grain dealers quoted shelled corn bids were 7 to 9 cents lower at 6.73-6.92.

Soybean bids were 14 to 19 cents lower at
13.70-13.82.

In the Southern part of the state, shelled corn bids were mixed at 6.63-7.00.

Soybean bids were 16 to 18 cents lower at 13.82-14.04.

Wheat bids were mixed at 7.34-7.52.

Illinois grains ended lower for the week.

Many traders are probably glad the holiday interruptions are over so trading will get back to normal.

Removing the thought of the fiscal cliff helps to remove one of the clouds over the grain futures.

Better weather for the South American crops and more cancellations of US soybean purchases by China weighed on soybean futures.

Fund selling and liquidation also helped to pull grain futures down this week.

The trading in the cash grain market was slow.

With the year-end selling out of the way, many farmers will look for prices to rally before making any additional sales for those who have any grain to sell.

Basis was stronger this week at many
locations.

Many merchandisers at the processors and river terminals switched their spot month for soybeans from January (F) to March (H), so measurement of the basis increase is not available.

The possible closure of the Mississippi River is on the minds of grain merchandisers along the Illinois River.

Both the demand and possible closure of the river has some merchandisers using a quick
shipment bid for corn and soybeans to get them on their way down the river.

So if you are leaning to make a sale, it might pay to give your merchandiser a call.

The Central Illinois Soybean Processors cash bids fell 19 to 22 cents to 14.11-14.24, with at +25H to +38H.

The Central Illinois Corn Processors cash bids were 1 to 2 cents lower ranging from 6.93-7.04, with basis steady to 1 cent higher ranging from +4H to +15H.

At the Illinois River terminals south of
Peoria, cash corn bids ended 3 to 8 cents higher ranging from 6.74-6.75, with basis 5 to 10 cents higher at -15H to -14H.

Cash soybean bids dropped 20 to 21 cents to 14.16-14.23, with basis ranging from 30H to 37H.

New crop wheat bids for delivery in July 2013 ended 14 to 19 cents lower ranging from 7.29-7.46, with basis steady to 5 cents higher at -42N to -25N.

At the Illinois River terminals north of Peoria, cash corn bids gained 9 to 10 cents to 6.84-6.91, with basis up 11 to 12 cents at -5H to +2H.

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Cash soybean bids were down 15 to 20 cents at 14.09-14.14, with basis ranging from +221/2 H to +28H.

New crop wheat bids for July 2013 delivery fell 17 to 19 cents to range from 7.41-7.44, with basis steady to 2 cents higher at -30N to -27N.

At the St. Louis terminals cash corn bids were mixed at 6.63-6.64, with soybeans mostly 18 cents lower ranging from 14.32-14.50.

Cash bids for Soft Red Winter wheat fell 1 cent to 7.60-7.61 and cash sorghum bids were steady to range from 6.53-6.54.

In northern and western Illinois, cash corn bids to producers at country elevators dropped 3 to 17 cents at 6.70-6.82, with central Illinois locations down 2 cents at 6.82-6.99 and in southern Illinois bids were mostly 2 cents higher ranging from 6.93-7.09.

Cash soybean bids in northern and western locations were down 21 to 27 cents at 13.61-13.85 with central Illinois bids 23 to 24 cents lower at 13.84-14.01 and southern Illinois bids dropped 15 to 24 cents to range from 14.04-14.20.

Cash wheat bids for Soft Red Winter wheat in southern Illinois locations fell 7 to 12 cents to 7.44-7.60.

New crop wheat bids for June-July delivery in southern Illinois dropped 19 to 25 cents to range from 7.19-7.41.

___

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

6.45 - 6.74 13.60 - 13.68  

WESTERN 

 6.66 - 6.73 13.47 - 13.65  

N. CENT.

6.73 - 6.83 13.70 - 13.82  

S. CENTRAL

6.77 - 6.92 13.72 - 13.79  

WABASH 

6.84 - 6.95 13.82 - 13.91 7.34 - 7.52

W.S. WEST

6.63 - 6.78 13.85 - 13.95 7.44 - 7.47

L. EGYPT

6.90 - 7.00 13.86 - 14.04 7.37 - 7.52

Central Illinois average price

Corn: ***  6.82 1/2 (+ 2 H)
Soybeans:
13.76 (+ 9 H)

CONTRACT BIDS FOR JANUARY 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

5.30 - 5.45 12.27 - 12.42  

WESTERN 

5.26 - 5.37 12.27 - 12.37  

N. CENT.

5.37 - 5.47 12.38 - 12.47  

S. CENTRAL

5.37 - 5.52 12.35 - 12.52  

WABASH 

5.32 - 5.47 12.37 - 12.47 7.30 - 7.33

W.S. WEST

5.24 - 5.39 12.32 - 12.47 7.11 - 7.18

L. EGYPT

5.52 - 5.56 12.37 - 12.47 7.31 - 7.43

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

1/3/2012

12/27/2012

  Price--Basis Price--Basis

Corn

6.901/2 +1H

6.921/2 +1H

Soybeans

13.921/2 +6H

14.16 -3F

Annual Comparison

 

December 2012

January 2012

  Price--Basis Price--Basis

Corn

7.23 option H

6.25 -6H

Soybeans

14.50 -8F

11.82 -221/2 H

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

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