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 

[September 21, 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. With little new information to trade on, futures prices went lower. Technical selling at the Board of Trade did help to weaken corn and soybean futures. In the cash markets, trading has been slow to moderate. Cash basis levels have stabilized somewhat for corn and soybeans after their sharp declines over the last two weeks.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were mostly 5 to 9 cents lower at 4.26-4.75. Soybean bids were down 24 cents at 12.85-13.15.
 
In Central Illinois country grain dealers quoted shelled corn bids were mostly 7 to 9 cents lower at 4.33-4.56. Soybean bids were mostly 22 to 27 cents lower at 12.95-13.40.

In the Southern part of the state, shelled corn bids were 3 to 9 cents lower at 4.26-4.51. Soybean bids were 24 to 30 cents lower at 12.91-13.27. Wheat bids were 15 to 16 cents lower at 5.94-6.20.


Grain futures ended mixed this week at the Board of Trade, with wheat higher and corn and soybeans lower.  Soybeans futures had very little bullish news to keep prices moving up.  The threat of showers and cooler temperatures for the cornbelt weighed on soybean futures.  The National Oilseed and Processors Association released the soybean crush figures for August at 124.8 million bushels, which was lower than expected.  Weekly export sales figures were good this week for soybeans and wheat and lighter than expected for corn.  This week, export sales figures for soybeans totaled 923,300 tonnes, with wheat at 704,400 tonnes and corn at 437,400 tonnes.  The sale of US wheat to Japan also helped to boost wheat values along with better export demand.     

This week's Illinois Weather and Crops report, released by the Illinois Field office of the
National Ag Statistics Service, made it official that corn harvest has started.  As of September 15th, there was 1% of the Illinois corn crop harvested, compared to 34% last year and 14% for  the five year average.  There was 25% of the corn crop rated as mature and 84% of the crop in the dent stage.  There was 13% of the Illinois soybean crop dropping leaves, compared to 42% last year and 27% for the five year average.  There was 42% of the soybean crop turning yellow, compared to 76% last year and 58% for the five year average. 

With several acres left unplanted this Spring due to flooding and persistent rainfall, several farmers have started planting wheat, with 1% of the state's crop now planted, compared to 1% last year and 1% for the five year average.  Pasture conditions dropped again, with 40% very poor to poor, with 42% fair and 18% rated good to excellent.

The trading in the cash grain market was moderate this week. The fact that many corn and soybean processors had figured out that maybe now they had enough inventory to sustain them until the new crop arrived sent basis sharply lower.  This fact also put pressure on cash bids this week.  Quick shipment bids were also disappearing.  At many processors basis fell between 30 to 60 cents per bushel.  With that said cash bids for both corn and soybeans ended sharply lower. Many country grain elevators and terminals were getting some new crop corn and  limited amount of new crop soybeans.  Most elevator managers expected it would be a week or two before grain would be coming in on a more consistent basis. 

The Central Illinois Soybean Processors cash bids dropped 1.12 to 1.17 to 13.84-13.89, with basis falling 55 to 60 cents ranging from +45X to +50X. At the Central Illinois Corn Processors cash bids were 40 to 57 cents lower ranging from 4.51-4.69, with basis down 33 to 50 cents ranging from -8Z to +10Z.

At the Illinois River terminals south of Peoria, cash corn bids were down 43 to 47 cents ranging from 4.37-4.44, with basis dropping 36 to 40 cents ranging from -22Z to -15Z. Cash soybean bids lost .97 to 1.10 with bids ranging from 13.39-13.44, with basis down 40 to 53 cents ranging from option X to +5X.

[to top of second column]

At the Illinois River terminals north of Peoria, cash corn bids dropped 37 cents to 4.44-4.64, with basis down 30 cents at -15Z to +5Z. Cash soybean bids were down 77 to 84 cents to range from 13.39-13.48, with basis falling 20 to 27 cents ranging from option X to +81/2 X.  At the St. Louis terminals cash corn bids closed 25 to 27 cents lower ranging from 4.48-4.64, with soybeans down 84 to 87 cents ranging from 13.49-13.59. Cash bids for Soft Red Winter wheat were 5 cents lower at 6.17-6.18 and cash sorghum bids were 2 cents weaker at 4.88-4.89. 

In northern and western Illinois, cash corn bids to producers at country elevators were 27 to 32 cents lower at 4.34-4.65, with central Illinois locations 43 to 46 cents lower at 4.41-4.59 and in southern Illinois bids were 27 to 32 cents lower ranging from 4.38-4.50. Cash soybean bids in northern and western locations were down .73 to 1.15 at 13.09-13.39, with central Illinois bids down 1.22 to 1.31 at 13.48-13.65 and southern Illinois bids dropped 1.01 to 1.21 at 13.17-13.40. Cash wheat bids for Soft Red Winter wheat in southern Illinois gained 3 to 15 cents ranging from 6.04-6.36.

___

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

4.55 - 4.75 12.85 - 13.00  

WESTERN 

 4.26 - 4.41 12.90 - 13.15  

N. CENT.

4.33 - 4.56 12.95 - 13.34  

S. CENTRAL

 4.38 - 4.51 13.32 - 13.40  

WABASH 

4.36 - 4.51 12.92 - 13.10 6.03 - 6.14

W.S. WEST

4.30 - 4.47 13.08 - 13.27 6.04 - 6.20

L. EGYPT

4.26 - 4.35 12.91 - 13.00 5.94 - 6.03

Central Illinois average price

Corn:  4.44 1/2     (+ 6 1/2 Z)  
Soybeans:
13.17 1/2     (+ 2 X)

 


CONTRACT BIDS FOR JANUARY 2014 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

4.36 - 4.53 12.86 - 13.02  

WESTERN 

4.26 - 4.35 13.00 - 13.14  

N. CENT.

4.35 - 4.46  12.93 - 13.12  

S. CENTRAL

4.36 - 4.50 13.14 - 13.23  

WABASH 

 4.40 - 4.49 13.13 - 13.23  

W.S. WEST

4.41 - 4.55 13.19 - 13.36  

L. EGYPT

4.43 - 4.53 13.13 - 13.23  

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

9/19/2013

9/12/2013

  Price--Basis Price--Basis

Corn

4.50 -9 1/2Z

4.94 1/2 +28Z

Soybeans

13.56 1/2 +17X

14.83 +87X 1

Annual Comparison

 

August 2013  

September 2012

  Price--Basis Price--Basis

Corn

5.98 1/2 +115U

7.69 1/2 +6Z

Soybeans

14.00 +135 1/2X

16.71 -4 1/2 X

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

< Recent articles

Back to top