Calendar | Logan County Extension Unit | Ag News Elsewhere [fresh daily from the Web]


Illinois grain prices in country elevators

Send a link to a friend

[May 11, 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 lower on Friday afternoon. Corn, soybeans and wheat all had bearish reactions to the USDA's Supply Demand forecast. 

Carryout figures for old crop corn was estimated at 759 million bushels and old crop soybeans at 125 million bushels.

New crop forecasts for corn were over 2 billion bushels and new crop soybeans at 265 million bushels.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were 13 to 16 cents lower at 6.59-6.75.

Soybean bids were 14 to 18 cents lower at 14.55-14.71.

In Central Illinois country grain dealers quoted shelled corn bids were 14 to 16 cents lower at 6.60-6.71.

Soybean bids were 8 to 11 cents lower at 14.80-14.96.

In the Southern part of the state, shelled corn bids were 13 cents lower at 6.55-6.76.

Soybean bids were mostly 5 to 10 cents lower at 14.70-14.97.

Wheat bids were 18 to 23 cents lower at 6.81-7.07.

Illinois grains ended mixed this week at the Board of Trade, with soybeans ending sharply higher and corn and wheat values slightly lower.

Early in the week, a drier and warmer extended weather forecast helped to push corn values lower.

Traders believed farmers could make progress with their corn planting chores.

The Weekly Crop Progress report released Monday afternoon by the National Ag
Statistics Service confirmed the slow corn planting pace. For the week ending May 5th, on a nationwide
basis, farmers had 12% of the corn crop planted, compared to 47% for the five year average and the slowest pace since 1984.

Tight supplies of old crop corn and soybeans continue to support stronger prices.

Cash basis levels remain very strong for soybeans and corn.

Also, many traders evened positions and took profits in preparation for the release of new Supply Demand estimates by the USDA
at 11 am on Friday.

This week's Illinois Weather and Crops report, released by the Illinois Field office of the National Ag Statistics Service, also confirmed the very slow corn planting pace by Illinois farmers.

As of May the 5th, Illinois farmers had planted just 7% of their corn crop, compared to 48% for the five year average and the slowest since 1984.

Most of the corn planting was in the northwestern and northeastern regions
of the state.

The state's oat crop was 73% planted, compared to 99% last year and 87% for the five year average.

The wheat crop in Illinois rates much better than the crop in the western states.

The Illinois crop placed 68% in the good to excellent category, with 25% fair and only 7% in the very poor to poor range.

The trading in the cash grain market was slow this week, but the 15.00 cash soybean price did attract some new cash sales.

Many producers would like to see their own crops up and growing before they make additional sales.

The strong cash basis levels are drawing some attention from grain traders; it's
also helping to support the futures market.

Mostly every grain terminal has switched to the July (N) futures month for their cash bid, so it is a little easier to compare cash basis this week.

Competition is very strong between grain terminals and processors to buy their grain needs from producers.

The Central Illinois Soybean Processors cash bids gained 32 to 47 cents ranging from 15.19-15.44, with basis mixed ranging from +110N to +135N.

At the Central Illinois Corn Processors cash bids were down 8 to 13 cents ranging from 6.89-7.04, with basis steady to 5 cents higher at +40N to +55N.

[to top of second column]

At the Illinois River terminals south of Peoria, cash corn bids ended 5 to 10 cents lower ranging from 6.91-6.97, with basis ranging from +42N to +48N.

Cash soybean bids were up 49 to 54 cents with bids ranging 15.10-15.13, with basis ranging from +101N to +104N.

New crop wheat bids for delivery in July 2013 ended 5 to 6 cents lower ranging from 7.13-7.17, with basis steady to 1 cent lower at -10N to -6N.

At the Illinois River terminals north of Peoria, cash corn bids were 10 to 11 cents lower at 6.86-6.94, with basis at +37N to +45N.

Cash soybean bids gained 51 to 55 cents to 15.00-15.07, with basis ranging from +91N
to +98N.

New crop wheat bids for July 2013 delivery ended 8 to 9 cents lower to range from 7.13-7.19, with basis 3 to 4 cents lower at -10N to -4N. At the St. Louis terminals cash corn bids closed 2 to 3 cents higher ranging from 6.83-6.84, with soybeans up 52 cents ranging from 15.23-15.24.

Cash bids for Soft Red Winter wheat were up 2 cents to 7.43-7.44 and cash sorghum bids were 17 cents higher at 6.58-6.59.

In northern and western Illinois, cash corn bids to producers at country elevators were down 11 to 12
cents at 6.72-6.89, with central Illinois locations 7 to 9 cents lower at 6.74-6.85 and in southern Illinois bids fell 5 to 13 cents ranging from 6.68-6.89.

Cash soybean bids in northern and western locations were 48 to 53 cents higher at 14.69-14.89, with central Illinois bids gained 47 to 59 cents at 14.91-15.04 and southern Illinois bids were up 37 to 41 cents at 14.80-15.00.

Cash wheat bids for Soft Red Winter wheat in southern Illinois locations ended 5 to 7 cents lower ranging from 7.04-7.25.

New crop wheat bids for June-July delivery in southern Illinois were down 2 to 7 cents ranging from 6.90-7.20.

___

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

6.59 - 6.70 14.55 - 14.64  

WESTERN 

6.62 - 6.75 14.62 - 14.71  

N. CENT.

6.62 - 6.71 14.80 - 14.96  

S. CENTRAL

6.60 - 6.71 14.81 - 14.94  

WABASH 

6.64 - 6.76 14.70 - 14.81 6.81 - 6.91

W.S. WEST

6.55 - 6.72 14.87 - 14.97 6.98 - 7.07

L. EGYPT

6.72 - 6.76 14.84 - 14.89 6.94 - 6.99

Central Illinois average price

Corn:  6.65 1/2 (+29 N)
Soybeans:
14.88 (+89 N)


CONTRACT BIDS FOR NEW CROP 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

4.95 - 5.09 11.66 - 11.76  

WESTERN 

4.96 - 5.05 11.68 - 11.73  

N. CENT.

4.96 - 5.09 11.72 - 11.88  

S. CENTRAL

5.02 - 5.12 11.78 - 11.86  

WABASH 

5.02 - 5.12 11.76 - 11.81 6.71 - 6.84

W.S. WEST

5.00 - 5.10 11.83 - 11.91 6.80 - 7.01

L. EGYPT

5.05 - 5.15 11.72 - 11.86 6.75 - 6.91

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

5/9/2013

5/2/2013

  Price--Basis Price--Basis

Corn

 6.79 1/2 +31N 

6.87 1/2 +25 1/2N

Soybeans

14.97 1/2 +89N

14.44 1/2 +71 1/2N 

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]

< Recent articles

Back to top


 

News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor