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Illinois country grain prices were
mostly lower on Friday afternoon.
Technical trading at the Board of
Trade weakened grain futures on Friday.
Many traders evened positions and
took profits ahead of the long holiday weekend.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were down 6 to 10 cents at 6.85-6.98.
Soybean bids fell 28 to 31 cents
at 14.72-14.91.
In Central Illinois country grain dealers quoted shelled corn
bids were 5 to 8 cents lower at 6.81-6.97.
Soybean bids dropped 24 to 26
cents at 14.95-15.26.
In the Southern part of the state, shelled corn bids were 3 to 5
cents lower at 6.65-7.02.
Soybean bids were down 24 to 31
cents at 15.00-15.36.
Wheat bids were mostly 3 to 6
cents lower at 6.82-7.10.
Illinois grains ended higher this
week at the Board of Trade.
Many traders waited for the Weekly
Crop Progress report released by the National Ag
Statistics Service.
Last week farmers made incredible
progress with corn planting.
The US corn crop was now 71%
planted compared to 28% last week and 79% for the five year
average.
Export sales were in the news this
week.
As we are getting use to China
buying soybeans, the market is not use to China buying corn and
wheat.
This week China bought 360,000
tonnes of US corn and 180,000 tonnes of US wheat.
Both announcements helped to boost
prices.
The strong cash markets in both
corn and soybeans also supported stronger prices.
Strength in soybean meal also gave
a lift to soybean values.
This week's Illinois Weather and Crops report, released by the
Illinois Field office of the National Ag Statistics Service,
noted that farmers had a very hectic corn planting pace last
week.
As of May 19th, Illinois farmers
had planted 74% of their corn crop, compared to 17% last week
and 77% for the five year average.
Many farmers in the northeastern
region of the state had also been busy planting soybeans.
They led the state with 51% of
their soybean crop planted. As a whole, Illinois producers had
planted 19% of their soybean crop, compared to less than 1% last
week and 35% for the five year average.
The Illinois wheat crop was
slightly behind in maturity compared to other years.
The state's crop was 10% headed,
compared to 15% last week and 70% for the five year average.
The wheat crop in Illinois made
some improvement again this week by placing 75% in the good to
excellent category, with 22% fair and only 3% in the very poor
to poor range.
The trading in the cash grain market remained slow this week,
but that didn't mean it was quiet.
It really started last Friday when
the cash soybean basis at many river terminals started to fall
15 to 17 cents per bushel.
By the end of this week, the cash
soybean basis at many river terminals and processors had dropped
67 to 75 cents per bushel.
Also during the week, many soybean
processors have already started to change their spot basis
month.
While some processors are still
using the (N) July, we have some on the (Q) August and some
using the (X) November.
So figuring out where cash bids
really are using basis will be a challenge for several months.
The Central Illinois Soybean
Processors cash bids gained 2 to 5 cents ranging from
15.44-15.64, with basis down 67 to 70 cents ranging from +45N to
+65N.
At the Central Illinois Corn
Processors cash bids were 21 to 28 cents higher ranging from
7.10-7.24, with basis steady to 7 cents higher at +48N to +62N.
[to top of second column] |
At the Illinois River terminals
south of Peoria, cash corn bids were up 19 to 21 cents ranging
from 7.10-7.17, with basis steady
to 2 cents lower ranging from +48N to +55N.
Cash soybean bids were steady to 3
cents lower with bids ranging 15.29-15.39, with basis down 72 to
75 cents ranging from +30N to +40N.
New crop wheat bids for delivery
in July 2013 were up 20 to 22 cents ranging from 6.98-7.03, with
basis 5 to 7 cents higher at -5N to option N.
At the Illinois River terminals
north of Peoria, cash corn bids gained 20 to 21 cents at
7.07-7.14, with basis unchanged at +45N to +52N.
Cash soybean bids lost 1 cent to
15.22-15.32, with basis 73 cents lower ranging from +23N to +32"
N.
New crop wheat bids for July 2013
delivery ended 20 to 25 cents higher to range from 7.03-7.08,
with basis 5 to 10 cents higher at option N to +5N.
At the St. Louis terminals cash
corn bids closed 25 cents higher ranging from 7.11-7.12, with
soybeans down 8 cents ranging from 15.39-15.40.
Cash bids for Soft Red Winter
wheat were 17 cents higher at 7.29-7.30 and cash sorghum
bids were 39 cents higher at 6.91-6.92.
In northern and western Illinois, cash corn bids to producers at
country elevators were up 22 to 23 cents at 6.91-7.08, with
central Illinois locations 21 to 24 cents higher at 6.89-7.02
and in southern Illinois bids gained 17 to 20 cents ranging from
6.68-7.07.
Cash soybean bids in northern and
western locations were 5 to 19 cents higher at 15.00-15.24, with
central Illinois bids gained 6 to 21 cents at 15.21-15.50 and
southern Illinois bids were up 14 to 43 cents at 15.24-15.67.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois locations ended 12 to 20 cents
higher ranging from 6.80-7.16.
New crop wheat bids for June-July
delivery in southern Illinois were up 16 to 25 cents ranging
from 6.83-7.01.
___
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 |
6.88 - 6.98 |
14.72 - 14.88 |
|
|
WESTERN |
6.85 - 6.96 |
14.83 - 14.91 |
|
|
N. CENT. |
6.85 - 6.97 |
14.95 - 15.06 |
|
|
S. CENTRAL |
6.81 - 6.94 |
15.00 - 15.26 |
|
|
WABASH |
6.85 - 6.97 |
15.26 - 15.36 |
6.82 - 6.85 |
|
W.S. WEST |
6.65 - 6.72 |
15.00 - 15.07 |
7.00 - 7.10 |
|
L. EGYPT |
6.95 - 7.02 |
15.21 - 15.36 |
6.86 - 7.00 |
Central Illinois average price
Corn: 6.89 (+32 N)
Soybeans:
15.10 1/2 (+34 N)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
5.03 - 5.17 |
12.11 - 12.18 |
|
|
WESTERN |
5.02 - 5.10 |
12.10 - 12.15 |
|
|
N. CENT. |
5.06 - 5.16 |
12.17 - 12.38 |
|
|
S. CENTRAL |
5.02 - 5.20 |
12.21 - 12.35 |
|
|
WABASH |
5.10 - 5.18 |
12.23 - 12.36 |
6.70 - 6.85 |
|
W.S. WEST |
5.05 - 5.18 |
12.26 - 12.40 |
6.82 - 6.95 |
|
L. EGYPT |
5.14 - 5.22 |
12.15 - 12.36 |
6.85 - 6.95 |
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
5/23/2013 |
5/16/2013
|
| |
Price--Basis |
Price--Basis |
|
Corn |
6.951/2 +331/2 N |
6.73 +311/2 N |
|
Soybeans |
15.351/2 +36N |
15.22 +941/2 N 1 |
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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