GX_GR113
Springfield, IL Fri Jan 11, 2013 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 corn and
wheat higher and soybeans futures mostly lower. Corn futures were supported by
the lower than expected corn stocks figure in today's USDA report. The US corn
stocks in all positions on December 1, 2012 totaled 8.03 billion bushels.
In Northern and Western Illinois country grain dealers quoted shelled corn bids
were 10 to 15 cents higher at 6.90-7.15. Soybean bids were 3 to 4 cents lower at
13.62-13.85.
In Central Illinois country grain dealers quoted shelled corn bids were mostly
8 to 12 cents higher at 6.96-7.22. Soybean bids were 6 to 10 lower at 13.76-
13.94.
In the Southern part of the state, shelled corn bids were 7 to 12 cents stronger
at 6.87-7.32. Soybean bids were mixed at 13.90-14.20. Wheat bids were up 10 to
11 cents at 7.44-7.60.
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 6.92 - 7.15 13.71 - 13.83 -----------
WESTERN 6.90 - 7.00 13.62 - 13.85 -----------
N. CENTRAL 6.96 - 7.15 13.76 - 13.94 -----------
S. CENTRAL 7.07 - 7.22 13.79 - 13.90 -----------
WABASH 7.15 - 7.25 13.90 - 14.05 7.50 - 7.60
W.S. WEST 6.87 - 7.15 14.08 - 14.20 7.44 - 7.58
L. EGYPT 7.21 - 7.32 14.05 - 14.10 7.50 - 7.60
Central Illinois average price Corn 7.09 ( opt H)
Soybeans 13.85 (+ 12 H)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
AREA CORN SOYBEANS ***SOFT WHEAT***
NORTHERN 5.35 - 5.49 12.19 - 12.31 -----------
WESTERN 5.32 - 5.42 12.11 - 12.26 -----------
N. CENTRAL 5.37 - 5.52 12.26 - 12.36 -----------
S. CENTRAL 5.40 - 5.57 12.31 - 12.41 -----------
WABASH 5.42 - 5.57 12.31 - 12.36 7.35 - 7.37
W.S. WEST 5.32 - 5.47 12.27 - 12.37 7.30 - 7.37
L. EGYPT 5.51 - 5.57 12.36 - 12.51 7.25 - 7.35
***June/July 2013 delivery
Illinois grains ended mixed for the week, with corn futures closing higher and
wheat and soybeans closing lower. Trading activity was lighter this week, as
many traders went to the sidelines to wait for the release of the major USDA
grain reports on Friday. One factor that weighed on soybean values this week
was another cancellation of US soybeans by China. Any other new fundamental
information for the markets to trade on was very limited.
The trading in the cash grain market was slow to moderate. Basis movement was
again the hot topic for grain merchandisers this week. Some of the sharpest
increases in basis have been seen in cash soybeans at the Illinois River
terminals and St. Louis grain terminals. While the Illinois Corn processors
continue to lead the pace in the cash corn basis, the river terminals have
definitely made up some ground. The river terminals at St. Louis and along the
Illinois River do lead the pace with the cash soybean basis levels over the
Central Illinois Processors. That will include quick shipments bids for first
half January delivery. These stronger basis numbers have helped merchandisers
to increase grain sales for both corn and soybeans. The lower water levels on
the Mississippi River are still a very large concern for merchandisers along the
river systems. The Central Illinois Soybean Processors cash bids were mixed
ranging from 14.15-14.20, with basis up 2 to 10 cents at +35H to +40H. The
Central Illinois Corn Processors cash bids were 18 to 19 cents stronger ranging
from 7.11-7.23, with basis 8 to 9 cents higher ranging from +12H to +24H. At the
Illinois River terminals south of Peoria, cash corn bids ended 27 to 29 cents
higher ranging from 7.01-7.04, with basis 17 to 19 cents higher at +2H to +5H.
Cash soybean bids gained 7 to 8 cents to 14.24-14.30, with basis up 13 to 14
cents ranging from 44H to 50H. New crop wheat bids for delivery in July 2013
ended 11 cents lower ranging from 7.18-7.35, with basis steady at -42N to -25N.
At the Illinois River terminals north of Peoria, cash corn bids gained 12 to 13
cents to 6.97-7.03, with basis up 2 to 3 cents at -2H to +4H. Cash soybean bids
were up 10 to 11 cents at 14.20-14.24, with basis gaining 16 to 17 cents ranging
from 40 H to 44H. New crop wheat bids for July 2013 delivery fell 5 to 12 cents
to range from 7.29-7.39, with basis mixed at -31N to -21N. At the St. Louis
terminals cash corn bids were up 35 cents at 6.98-6.99, with soybeans mixed
ranging from 14.34-14.40. Cash bids for Soft Red Winter wheat fell 4 cents to
7.56-7.57 and cash sorghum bids were up 10 cents to range from 6.63-6.64.
In northern and western Illinois, cash corn bids to producers at country
elevators gained 10 to 11 cents at 6.81-6.92, with central Illinois locations up
6 to 11 cents at 6.88-7.10 and in southern Illinois bids were 10 to 11 cents
higher ranging from 6.80-7.20. Cash soybean bids in northern and western
locations were up 3 to 5 cents at 13.66-13.88 with central Illinois bids mixed
at 13.86-14.00 and southern Illinois bids were steady to 13 cents lower to range
from 13.91-14.20. Cash wheat bids for Soft Red Winter wheat in southern Illinois
locations fell 10 to 11 cents to 7.33-7.50. New crop wheat bids for June-July
delivery in southern Illinois dropped 5 to 11 cents to range from 7.14-7.30.
Central Illinois Average Price at Country Elevators
1/10/2013 1/3/2013 December 2012 January 2012
Price Basis Price Basis Price Basis Price Basis
Corn 6.99 option H 6.901/2 +1H 7.23 option H 6.25 -6H
Soybeans 13.93 +13H 13.921/2 +6F
14.50 -8F 11.82 -221/2 H
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
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