Grain Prices @ Illinois Interior Country Elevators

GX_GR113
Springfield, IL    Thu Jan 31, 2013    USDA-IL Dept of Ag Market News

Illinois Grain Prices in Country Elevators

This is Thursday'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 Thursday afternoon, with 
corn slightly higher and soybeans and wheat lower. Technical selling at
the Board of Trade and a change in the South American weather forecast 
pushed soybean futures lower. In the cash markets, trading was slow. With 
export demand weaker, the cash soybean basis at many river terminals has 
been sharply lower. Over the last two days the cash soybean basis has
dropped  to  cents at many Illinois River terminals.

In Northern and Western Illinois country grain dealers quoted shelled corn 
bids were mostly steady at 7.28-7.47. Soybean bids were 18 to 24 cents
lower at 14.50-14.61.
 
In Central Illinois country grain dealers quoted shelled corn bids were 
steady to 4 cents higher at 7.40-7.56. Soybean bids were 8 to 9 cents
lower at 14.74-14.90.

In the Southern part of the state, shelled corn bids were 1 to 3 cents
higher at 7.29-7.66. Soybean bids were 16 to 18 cents lower at 
14.79-14.99. Wheat bids were 7 to 8 cents lower at 7.72-7.90.

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    7.36 - 7.47   14.56 - 14.59    -----------       
WESTERN     7.28 - 7.35   14.50 - 14.61    -----------       
N. CENTRAL  7.40 - 7.48   14.74 - 14.90    -----------       
S. CENTRAL  7.40 - 7.56   14.76 - 14.88    -----------       
WABASH      7.47 - 7.58   14.87 - 14.94    7.75 - 7.87     
W.S. WEST   7.29 - 7.43   14.79 - 14.88    7.79 - 7.83    
L. EGYPT    7.56 - 7.66   14.89 - 14.99    7.72 - 7.90     

Central Illinois average price   Corn        7.48       (+ 7 1/2   H)
                                 Soybeans   14.82       (+13 1/2   H)

                 CONTRACT BIDS FOR NEW CROP 2013 DELIVERY

 AREA          CORN          SOYBEANS   ***SOFT WHEAT*** 
NORTHERN    5.49 - 5.63   12.85 - 12.95   -----------    
WESTERN     5.51 - 5.65   12.83 - 12.96   -----------    
N. CENTRAL  5.53 - 5.68   12.87 - 13.03   -----------    
S. CENTRAL  5.54 - 5.67   12.95 - 13.03   -----------    
WABASH      5.61 - 5.71   12.95 - 13.03   7.61 - 7.75                       
W.S. WEST   5.53 - 5.62   13.03 - 13.13   7.43 - 7.48  
L. EGYPT    5.66 - 5.76   12.93 - 13.03   7.51 - 7.70 
***June/July 2013 delivery

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

1. 4 rules for growing a business or industry
2. Corn planting pace turns from record slow to record fast
3. Ag markets seemed to follow gold higher Monday afternoon
4. Online systems keeps exporters abreast of market regulations
5. April milk production up 0.3 percent
6. New crop cottonseed market rallies in face of tight supplies

1. D.C. Watch: Farm bill progressing
2. April milk production up 0.3 percent
3. Class III futures close out quietly last week
4. What are the drivers of profit in your dairy herd?
5. Farmers dodge showers to plant corn at breakneck pace
6. 4 rules for growing a business or industry

1. Analysis: Dairy Security Act better for farmers, taxpayers
2. Commentary: Slanting the statistics
3. World food supply depends on character, virtuous leadership
4. Buffet concerned about soil and starvation
5. Cold spring stunts upper Midwest hay crop
6. N.M. rancher charged with 43 counts of animal cruelty