GX_GR113
Springfield, IL Fri Jun 1, 2012 USDA-IL Dept of Ag Market News
Illinois Grain Prices in Country Elevators
This is Friday's report of the grain prices and trends prepared by the USDA
and the Illinois Department of Agriculture.
Illinois country grain prices were mixed on Friday afternoon, with wheat
sharply lower. Selling pressure from an anticipated active harvesting
weekend, poor export demand, and the higher values of the US dollar pushed
wheat futures lower. In the cash market, the cash corn basis continued to
improve along the Illinois River, improvements of 5 to 8 cents noted.
In Northern and Western Illinois country grain dealers quoted shelled corn
bids mixed at 5.71-5.82. Soybean bids traded mostly 2 to 4 cents higher at
13.17-13.31.
In Central Illinois country grain dealers quoted shelled corn bids were 2
to 3 cents lower at 5.71-5.88. Soybean bids were 5 cents higher at
13.27-13.44.
In the Southern part of the state, shelled corn bids were mixed at 5.78-6.06.
Soybean bids were 4 to 6 cents higher at 13.31-13.48. Wheat bids were 23 to
31 cents lower at 5.91-6.13.
Commercial grain prices paid farmers by Interior Illinois Country
Elevators after 2.00 p.m. today are listed below in dollars per bushel:
AREA US 2 CORN US 1 SOYBEANS US 2 SOFT WHEAT
NORTHERN 5.71 - 5.82 13.17 - 13.28 -----------
WESTERN 5.71 - 5.81 13.24 - 13.31 -----------
N. CENTRAL 5.71 - 5.79 13.27 - 13.36 -----------
S. CENTRAL 5.80 - 5.88 13.34 - 13.44 -----------
WABASH 5.88 - 5.98 13.31 - 13.37 5.91 - 6.06
W.S. WEST 5.78 - 5.85 13.37 - 13.48 6.01 - 6.13
L. EGYPT 5.92 - 6.06 13.33 - 13.43 5.92 - 6.03
Central Illinois average price Corn 5.79 1/2 (+28 N)
Soybeans 13.35 1/2 (- 9 N)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
AREA CORN SOYBEANS SOFT WHEAT
NORTHERN 4.85 - 4.90 12.16 - 12.23 -----------
WESTERN 4.73 - 4.79 12.18 - 12.27 -----------
N. CENTRAL 4.72 - 4.81 12.21 - 12.33 -----------
S. CENTRAL 4.74 - 4.89 12.19 - 12.34 -----------
WABASH 4.83 - 4.92 12.28 - 12.34 -----------
W.S. WEST 4.90 - 4.98 12.39 - 12.45 -----------
L. EGYPT 4.93 - 4.94 12.24 - 12.34 -----------
Illinois grains- Grain futures ended moderately to sharply lower this week.
Traders seemed more concerned with the outside markets and other financial
markets, rather than grain market fundamentals. Liquidation of positions by
funds was the major source of pressure for grain futures this week.
The Illinois corn crop continues to mature ahead of the normal pace and the
planting of the state's soybean crop was in the final stages. According to
the USDA's Illinois Weather and Crops report, from the Illinois Field Office
in Springfield, there was 97% of the corn crop emerged, compared to 73% last
year and the five year average of 72%. The condition of the corn crop
declined last week, mainly due to lack of moisture. There was now 66% in
good to excellent condition, a drop of 13%, with 28% fair and 6% in very poor
to poor condition. Soybean planting was 94% complete, compared to 56% last
year and the five year average of 55%. There was 78% of the crop emerged,
compared to 25% last year and 28% for the five year average. In the first
condition report on soybeans this season, the Illinois crop placed 60% of the
crop in the good to excellent range, with 34% Fair and 6% in the very poor to
poor range. The wheat crop was 34% ripe, compared to 1% last year and less
than 1% for the five year average. Farmers in the southern part of the state
seemed to get serious about harvesting wheat after the Memorial Day holiday.
Many grain terminals and country elevators reported wheat coming in. The
elevators also have commented about the high quality of the wheat this year.
Test weights have been very good and disease problems have been very low.
The trading in the cash grain market was slow this week, though a little cash
wheat was starting to flow into the system. Slow movement was attributed to
another week of falling future prices. Basis levels for cash grain ended
steady to higher. At the Central Illinois Soybean Processors cash bids ended
29 to 31 cents lower at 13.55-13.62; with basis 5 to 7 cents higher ranging
from +15N to +22N. The Central Illinois Corn Processors cash bids were 23
cents lower with bids ranging from 5.95-6.08, and basis was steady at +40N to
+53N. At the Illinois River terminals south of Peoria, cash corn bids ended
17 to 19 cents lower ranging from 5.78-5.85, with basis up 4 to 6 cents at
+23N to +30N. Cash soybean bids decreased 32 to 36 cents at 13.41-13.50, with
basis steady to 4 cents higher ranging from +1N to +10N. New crop corn bids
for October delivery were up 7 to 11 cents to range from 5.04-5.07, with basis
steady to up 4 cents at -18Z to -15Z. New crop soybean bids fell 3 to 6 cents
to 12.55-12.61, with basis steady to 3 cents higher at -15X to -9X. New crop
wheat bids for July 2012 delivery were 13 to 19 cents lower ranging from 6.24-
6.34, with basis steady to 6 cents higher ranging from -20N to -10N. At the
Illinois River terminals north of Peoria, cash corn bids fell 19 to 22 cents
to 5.73-5.75, with basis up 1 to 4 cents at +18N to +20N. Cash soybean bids
were down 35 to 36 cents to 13.40-13.47, with basis steady to 1 cent higher
ranging from option N to +7N. New crop corn bids for October delivery ended 7
to 10 cents higher at 4.97-5.02, with basis steady to 3 cent stronger ranging
from -25Z to -20Z. New crop soybean bids lost 6 to 11 cents to 12.46-12.53,
with basis steady to 5 cents lower at -24X to -17X. New crop wheat bids were
down 18 to 20 cents to 6.25-6.28, with basis mixed at -19N to -16N. At the St.
Louis terminals cash corn bids were 31 to 32 cents lower at 5.92-5.94, with
soybeans down 33 to 38 cents from 13.58-13.68. Cash bids for Soft Red Winter
wheat lost 31 cents to 6.36-6.37, and cash sorghum bids fell 26 cents to range
from 5.24-5.25.
In northern and western Illinois, cash corn bids to producers at country
elevators were 14 to 24 cents lower at 5.67-5.86, with central Illinois
locations down 23 to 24 cents at 5.74-5.90 and in southern Illinois bids lost
18 to 27 cents to range from 5.80-6.05. Cash soybean bids in northern and
western were down 30 to 34 cents at 13.14-13.30 with central Illinois bids
losing 33 to 35 cents to 13.22-13.39 and southern Illinois decreased 36 to 39
cents at 13.27-13.42. Cash wheat bids for Soft Red Winter wheat in southern
Illinois locations ended 9 cents lower to range from 6.23-6.40. New crop corn
bids to producers at the country elevators in northern and western Illinois
were 8 to 9 cents higher to range from 4.81-4.93, with central Illinois
locations up 4 to 6 cents at 4.84-4.98 and in southern Illinois bids increased
4 to 5 cents to 4.95-5.06. New crop soybean bids for October delivery in
northern and western Illinois were 6 to 12 cents lower at 12.27-12.38, with
central Illinois locations mixed at 12.30-12.55 and in southern Illinois bids
dropped 5 cents at 12.38-12.58. New crop wheat bids for June-July 2012
delivery in southern Illinois ended 16 to 22 cents lower at 6.23-6.40.
Central Illinois Average Price at Country Elevators
5/31/2012 5/24/2012
Price Basis Price Basis
Corn 5.82 +27 N 6.05 1/2 +27N
Soybeans 13.30 1/2 - 9 1/2 N 13.64 1/2 -11 1/2 N
Source: USDA-IL Dept of Ag Market News, Springfield, IL
Phone: 217-782-4925 In state only toll free 888-458-4787
www.ams.usda.gov/mnreports/GX_GR113.txt
1544cst jm/gw
.
Grain Prices @ Illinois Interior Country Elevators
Related Articles
No matching related articles at this time.
Comments (0) Leave a comment