[June 08, 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
mixed on Friday afternoon, with corn and soybeans higher and
wheat ending lower.
Technical trading at the Board of
Trade kept corn and soybeans higher.
Soybean prices were also supported
by strong soybean meal values.
Wheat prices were pressured by
slow export demand.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were 2 cents higher at 6.93-7.04.
Soybean bids were mixed at
15.10-15.32.
In Central Illinois country grain dealers quoted shelled corn
bids were 2 to 3 cents higher at 6.87-7.06.
Soybean bids were 1 to 3 cents
higher at 15.46-15.63.
In the Southern part of the state, shelled corn bids were 3
cents higher at 6.92-7.14.
Soybean bids were 1 cent higher at
15.41-15.76. Wheat bids were 1 to 2 cents lower at 6.75-7.00.
Illinois grains ended mixed this
week at the Board of Trade, with corn and soybeans higher and
wheat slightly lower.
The markets continued to focus on
weather and planting delays for corn and soybeans.
Traders still thought about
Japan's reaction to finding the genetically modified wheat in
Oregon.
Weekly export sales figures were
under expectations this week for corn, soybeans, and wheat.
This had a negation influence with
prices on Thursday.
This week's Illinois Weather and Crops report, released by the
Illinois Field office of the
National Ag Statistics Service, indicated rain slowed planting
again this week and farmers
made limited progress with corn planting.
As of June 2nd, Illinois farmers
had planted 91% of their corn crop, compared to 89% last week
and 95% for the five year average. Illinois producers had
planted 49% of their soybean crop, compared to 40% last week and
69% for the five year average.
Two regions in the state were
noticeably farther behind with soybean planting than the other
regions in the state.
The west southwest region had only
planted 17% of their soybean crop, with the west region at 27%.
The balance of the state ranged
from 40-72% planted.
The Illinois wheat crop made up
some ground this week in the maturity race.
The state's crop was now 93% headed, compared to 82% last week
and 94% for the five year average.
The condition of the wheat crop in
Illinois dropped again this week by placing 66% in the good to
excellent category, down 6 per cent from one week ago, with 26%
fair and only 8% in the very poor to poor range.
Persistent rainfall this spring
has hay baling also running behind schedule.
This week only 32% of the first
cutting of alfalfa had been harvested, compared to 95% one year
ago and 57% for the five year average.
The trading in the cash grain market was slow to moderate this
week.
Cash basis levels for both corn
and soybeans continued to weaken.
That was true except at the
Illinois River terminals, where the cash corn basis strengthened
at the end and pushed it higher for the week.
The river system was improving as
many rivers have crested this week. While water levels are still
very high, at least they are more manageable.
The Central Illinois Soybean
Processors cash bids ended 17 to 25 cents higher ranging from
15.70-15.78, with basis down 7 to 15 cents ranging from +43N to
+51N.
At the Central Illinois Corn
Processors cash bids were mixed ranging from 7.03-7.13, with
basis down 8 to 10 cents at +40N to +50N.
At the Illinois River terminals
south of Peoria, cash corn bids were up 9 to 16 cents ranging
from 7.08-7.18, with basis steady to 7 cents higher ranging from
+45N to +55N.
Cash soybean bids were 21 to 26
cents higher with bids ranging 15.47-15.49, with basis 6 to 11
cents ranging from +20N to +22N.
Wheat bids were mixed ranging from
6.95-7.02, with basis mixed at -2N to +5N.
At the Illinois River terminals
north of Peoria, cash corn bids gained 12 to 15 cents at
7.09-7.17, with basis 3 to 6 cents higher at +46N to +54N.
Cash soybean bids advanced 24
cents to range from 15.42-15.48, with basis 8 cents lower
ranging from +15N to +21N.
Wheat bids were steady to 2 cents
lower to range from 6.94-6.96, with basis mixed at -3N to -1N.
At the St. Louis terminals cash
corn bids closed mixed ranging from 6.88-7.35, with soybeans up
25 to 30 cents ranging from 15.65-15.71.
Cash bids for Soft Red Winter
wheat were 6 cents lower at 7.17-7.18 and cash sorghum bids were
1 cent lower at 6.82-6.83.
In northern and western Illinois, cash corn bids to producers at
country elevators were up 5 to 6 cents at 6.91-7.02, with
central Illinois locations 3 to 7 cents higher at 6.85-7.03 and
in southern Illinois bids mostly 9 cents stronger ranging from
6.89-7.11.
Cash soybean bids in northern and
western locations were 26 to 27 cents higher at 15.17-15.32,
with central Illinois bids up 20 to 22 cents at 15.43-15.62 and
southern Illinois bids gained 24 cents at 15.40-15.75.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations ended 2 to 10 cents
lower ranging from 6.77-7.01.
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Commercial grain prices paid farmers
by Interior Illinois Country Elevators after 2.00 p.m. XXX are listed below in dollars per bushel:
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