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Illinois grain prices in country elevators

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[June 01, 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 higher on Friday afternoon.

Corn and soybean futures were supported by planting delays and the forecast for more rainfall for the cornbelt over the weekend.

Soybean values were also boosted by strong soybean meal prices.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were 6 to 9 cents higher at 6.92-7.05.

Soybean bids were at 14 to 15 cents higher at 15.05-15.20.

In Central Illinois country grain dealers quoted shelled corn bids were 6 cents higher at 6.88-7.02.

Soybean bids were 11 to 14 cents higher
at 15.35-15.53.

In the Southern part of the state, shelled corn bids were mostly 6 to 8 cents higher at 6.82-7.10.

Soybean bids were 14 cents higher at 15.30-15.65.

Wheat bids were mostly 6 cents higher at 6.85-7.17.

Illinois grains ended slightly lower this week at the Board of Trade.

The holiday shortened week mainly focused on technical trading and the weather.

The weather was the problem in many cases as too much rain has slowed corn planting progress.

In many cases in the cornbelt too much rain has caused flooding concerns on fields as well as major river systems.

Heavy rainfall in parts of Minnesota, Iowa, Illinois and Missouri has been responsible for stopping corn and soybean planting, localized flooding, and the river stages moving up.

Wheat values were weakened by news Japan had suspended U.S. wheat imports due to
unapproved genetically engineered wheat being found on a farm in Oregon.

This week's Illinois Weather and Crops report, released by the Illinois Field office of the National Ag Statistics Service, noted rain slowed farmers planting pace for both corn and soybeans.

As of May 26th, Illinois farmers had planted 89% of their corn crop, compared to 74% last week and 89% for the five year average. Illinois producers had planted 40% of their soybean crop, compared to 19% last week and 53% for the five year average.

The maturity of the Illinois wheat crop was trying catch up to the five year average. The state's crop was now 82% headed, compared to 49% last week and 86% for the five year average.

The condition wheat crop in Illinois dropped slightly this week by placing 72% in the good to excellent category, with 25% fair and only 3% in the very poor to poor range.

The trading in the cash grain market remained slow this week and prices did end slightly lower.

Cash basis levels still ended lower, but not sharply lower like last week. With the heavy rainfall in the cornbelt this week, the river levels are predicted to rise and cause trouble for river terminal operators.

This will be the second time that river terminals along the Illinois River have prepared for high water levels.

The Central Illinois Soybean Processors cash bids ended mixed ranging from 15.46-15.62, with basis up 1 to 5 cents ranging from +50N to +66N.

At the Central Illinois Corn Processors cash bids were 8 to 10 cents lower ranging from 7.02-7.14, with basis steady to 2 cents lower at +48N to +60N.

At the Illinois River terminals south of Peoria, cash corn bids were down 11 to 15 cents ranging from 6.99-7.02, with basis 3 to 7 cents lower ranging from +45N to +48N.

Cash soybean bids were 7 to 10 cents lower with bids ranging 15.22-15.29, with basis down 4 to 7 cents ranging from +26N to +33N.

[to top of second column]

New crop wheat bids for delivery in July 2013 were mixed ranging from 6.99-7.02, with basis 3 to 7 cents lower at option N to +3N.

At the Illinois River terminals north of Peoria, cash corn bids fell 9 to 13 cents at 6.94-7.05, with basis 1 to 5 cents lower at +40N to +51N.

Cash soybean bids lost 3 to 7 cents to range from 15.19-15.25, with basis steady to 4 cents lower ranging from +23N to +29N.

New crop wheat bids for July 2013 delivery ended 8 to 9 cents lower to range from 6.95-6.99, with basis 4 to 5 cents lower at -4N to option N.

At the St. Louis terminals cash corn bids closed 8 cents lower ranging from 7.03-7.04, with soybeans up 1 cent ranging from 15.40-15.41.

Cash bids for Soft Red Winter wheat were 6 cents lower at 7.23-7.24 and cash sorghum bids were 8 cents lower at 6.83-6.84.

In northern and western Illinois, cash corn bids to producers at country elevators were down 5 to 12 cents at 6.86-6.96, with central Illinois locations 6 to 7 cents lower at 6.82-6.96 and in southern Illinois bids were mixed ranging from 6.69-7.02.

Cash soybean bids in northern and western locations were 10 to 18 cents lower at 14.90-15.06, with central Illinois bids steady to 8 cents lower at 15.21-15.42 and southern Illinois bids were down 8 to 16 cents at 15.16-15.51.

Cash wheat bids for Soft Red Winter wheat in southern Illinois locations ended 1 to 5 cents lower ranging from 6.79-7.11.

New crop wheat bids for June-July delivery in southern Illinois were up 1 to 6 cents ranging from 6.79-7.02.

___

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

6.94 - 7.05 15.05 - 15.14  

WESTERN 

6.92 - 7.01 15.16 - 15.20  

N. CENT.

6.88 - 7.02 15.35 - 15.45  

S. CENTRAL

6.90 - 6.98 15.36 - 15.53  

WABASH 

6.90 - 7.03 15.50 - 15.60 6.85 - 6.90

W.S. WEST

 6.82 - 6.95 15.30 - 15.38 7.05 - 7.17

L. EGYPT

 7.02 - 7.10 15.55 - 15.65 6.87 - 6.91

Central Illinois average price

Corn:  6.95 (+33 N)
Soybeans:
15.44 (+34 N)


CONTRACT BIDS FOR NEW CROP 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

5.35 - 5.48 12.66 - 12.74  

WESTERN 

5.30 - 5.38 12.66 - 12.79  

N. CENT.

5.34 - 5.47 12.74 - 12.92  

S. CENTRAL

5.40 - 5.53 12.84 - 12.91  

WABASH 

5.40 - 5.47 12.75 - 12.84 6.85 - 6.88

W.S. WEST

5.34 - 5.50 12.85 - 12.93  6.94 - 7.09

L. EGYPT

5.44 - 5.52 12.79 - 12.84 6.86 - 6.88

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

5/30/2013

5/23/2013

  Price--Basis Price--Basis

Corn

6.89 +35N

6.951/2 +331/2 N

Soybeans

15.311/2 +36N

15.351/2 +36N

Annual Comparison

 

April 2013

May 2012

  Price--Basis Price--Basis

Corn

6.57 + 8K

6.27 +26K

Soybeans

14.30 +20 1/2K 

14.04 -14K

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

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