GX_GR113
Springfield, IL Fri Jul 20, 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 higher on Friday afternoon. With
the extended weather forecast still hot and dry and the crop prospects
declining, grain futures prices continue to climb.
In Northern and Western Illinois country grain dealers quoted shelled
corn bids 13 to 18 cents higher at 8.19-8.29. Soybean bids traded
22 to 28 cents higher at 17.67-17.90.
In Central Illinois country grain dealers quoted shelled corn bids were
mostly 10 to 14 cents higher at 8.25-8.54. Soybean bids were up 26 to
50 cents at 17.82-17.98. Wheat bids were 8 cents stronger at 9.08-9.25.
In the Southern part of the state, shelled corn bids were 11 to 17 cents
higher at 8.35-8.75. Soybean bids were up 24 to 34 cents at 17.69-18.02.
Wheat bids were mostly 8 to 9 cents higher at 9.15-9.48.
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 8.19 - 8.24 17.67 - 17.78 -----------
WESTERN 8.21 - 8.29 17.82 - 17.90 -----------
N. CENTRAL 8.33 - 8.54 17.82 - 17.95 -----------
S. CENTRAL 8.25 - 8.41 17.88 - 17.98 9.08 - 9.25
WABASH 8.52 - 8.68 17.69 - 17.86 9.30 - 9.43
W.S. WEST 8.35 - 8.42 17.90 - 18.02 9.15 - 9.23
L. EGYPT 8.60 - 8.75 17.72 - 17.89 9.43 - 9.48
Central Illinois average price Corn 8.39 1/2 (+15 U)
Soybeans 17.90 (+32 1/2 Q)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
AREA CORN SOYBEANS SOFT WHEAT
NORTHERN 7.51 - 7.70 16.33 - 16.54 -----------
WESTERN 7.59 - 7.64 16.49 - 16.60 -----------
N. CENTRAL 7.70 - 7.86 16.53 - 16.61 -----------
S. CENTRAL 7.85 - 8.03 16.62 - 16.70 -----------
WABASH 7.96 - 8.05 16.66 - 16.81 -----------
W.S. WEST 7.82 - 8.00 16.66 - 16.83 -----------
L. EGYPT 7.70 - 7.94 16.81 - 16.86 -----------
Illinois grains-Grain futures ended sharply higher. Several words could
describe the futures markets this week. Higher and volatile are just
two that quickly come to mind. The continuation of the hot and dry
weather pattern for most of the cornbelt and the outlook for it to
continue drove grain futures up this week. Soybean futures were also
supported by very good weekly export sales figures for soybeans and
soybean meal. This week new high prices were attained for August
soybean futures, along with September corn and wheat futures. Traders
expect to see crop conditions for the US corn and soybeans crops to
fall again in next Monday's report. In last Monday's report the US
corn crop placed 31% in the good to excellent category, down 9% from
last week and the US soybean crop placing 34% in the good to excellent
range, down 6% from the prior week.
The Illinois crop conditions fell again due to hot temperatures.
According to the USDA's Illinois Weather and Crops report, from the
Illinois Field Office in Springfield, the Illinois corn crop placed
11% in the good to excellent range, down 8% from last week, there was
33% fair and 56% very poor to poor. The condition of the state's
soybean crop also fell by 3%, with 17% of the soybean crop in the
good to excellent range, with 42% fair and 41% in the very poor to
poor range. Again this week, especially with corn the very poor to
poor numbers continue to climb. The states pasture land placed 2% in
the good category, with 15% fair and 83% in the very poor to poor
range. The topsoil moisture ratings continue to drop, placing 0% in
the surplus category, with only 2% adequate, 25% short and 73% very
short. The subsoil ratings also continue to fall; there were 4% in
the adequate range, with 26% short and 70% in the very short
category. This week the entire southeast region placed 100% in the
very short range. The Illinois corn crop placed 20% of the corn crop
in the dent stage, compared to less than 3% for last year and 6% for
the five year average. The soybean crop had 70% in the blooming
stage, compared to 37% last year and 42% for the five year average.
The trading in the cash grain market was slow to moderate this week,
but that didn't mean it wasn't exciting. Basis movement made it very
exciting as both the corn and soybean basis levels were moving in
opposite directions. For the most part, the corn basis was moving
down and the soybean basis was moving up. At the Central Illinois
Soybean Processors cash bids ended 1.69 to 1.87 higher at 17.94-
17.99, with basis up 13 to 25 cents ranging from +60Q to +65Q. The
Central Illinois Corn Processors cash bids were 37 to 38 cents higher
with bids ranging from 8.08-8.19, and basis down 39 to 40 cents
ranging from option U to +11U. At the Illinois River terminals south
of Peoria, cash corn bids ended 64 to 69 cents stronger ranging from
8.34-8.38, with basis falling 8 to 13 cents at +26U to +30U. Cash
soybean bids increased 1.63 to 1.65 to 17.87-17.91, with basis 1 to
3 cents higher ranging from +53Q to +57Q. Wheat bids ended 76 to 78
cents higher ranging from 8.85-8.93, with basis 10 to 12 cents lower
at -50U to -42U. New crop corn bids for October delivery were up 51
to 55 cents to range from 7.69-7.78, with basis up 5 to 9 cents at
-9Z to option Z. New crop soybean bids gained 1.25-1.26 to range
from 16.50-16.54, with basis up 2 to 3 cents at -2X to +2X. At the
Illinois River terminals north of Peoria, cash corn bids were up 60
to 66 cents at 8.32-8.34, with basis down 11 to 17 cents at +24U to
+26U. Cash soybean bids gained 1.55 to 1.62 to 17.77-17.86, with
basis steady to down 7 cents ranging from +43Q to +52Q. Cash wheat
bids gained 85 to 88 cents to 8.87-9.05, with basis steady to 3 cents
lower at -48U to -30U. New crop corn bids for October delivery ended
48 to 54 cents stronger at 7.65-7.67, with basis 2 to 8 cents higher
ranging from -13Z to -11Z. New crop soybean bids advanced 1.24 to
1.25 to 16.45-16.48, with basis 1 to 2 cents higher at -7X to -4X.
At the St. Louis terminals cash corn bids were 60 to 63 cents higher
at 8.46-8.48, with soybeans up 1.47 to 1.51 ranging from 17.87-17.90.
Cash bids for Soft Red Winter wheat gained 83 cents to 9.14-9.15,
and cash sorghum bids were 36 cents higher to range from 6.96-6.97.
In northern and western Illinois, cash corn bids to producers at
country elevators were 57 to 59 cents higher at 8.01-8.16, central
Illinois locations gained 62 to 72 cents at 8.18-8.40 and in
southern Illinois bids increased 62 to 76 cents to range from 8.24-
8.57. Cash soybean bids in northern and western were up 1.53-1.57
at 17.45-17.62 with central Illinois bids gaining 1.67-1.70 to 17.49-
17.74 and southern Illinois bids advanced 1.48-1.51 at 17.35-17.79.
Cash wheat bids for Soft Red Winter wheat in central Illinois gained
87 to 89 cents to 9.00-9.17, with southern Illinois locations up 85
to 88 cents at 9.06-9.50.
New crop corn bids to producers at the country elevators in northern
and western Illinois were up 46 to 51 cents to range from 7.38-7.53,
with central Illinois locations gaining 50 to 55 cents at 7.53-7.82
and in southern Illinois bids increased 53 to 55 cents to 7.64-7.89.
New crop soybean bids for October delivery in northern and western
Illinois were up 1.08-1.23 at 15.98-16.26, with central Illinois
locations gaining 1.21-1.33 at 16.26-16.35 and in southern Illinois
bids advanced 1.22-1.23 at 16.30-16.52.
Central Illinois Average Price at Country Elevators
7/19/2012 7/12/2012
Price Basis Price Basis
Corn 8.29 +21 U 7.62 +31 U
Soybeans 17.61 1/2 +28 Q 15.93 +20 1/2 Q
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 km/krh/cjm/jm/gw
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Grain Prices @ Illinois Interior Country Elevators
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