GX_GR113
Springfield, IL Fri May 4, 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 corn and
soybeans higher and wheat lower. Corn and soybeans started the day lower
because of non-commercial selling. Later in the session commercial interest
started buying, allowing corn and soybeans to finish higher. Corn processor
basis continues to improve with increases of 6 to 8 cents noted.
In Northern and Western Illinois country grain dealers quoted shelled corn
bids 7 to 14 cents higher at 6.31-6.45. Soybean bids traded 3 to 5 cents
higher at 14.50-14.63.
In Central Illinois country grain dealers quoted shelled corn bids were
7 to 13 cents higher at 6.34-6.59. Soybean bids were 2 to 9 cents higher at
14.54-14.74.
In the Southern part of the state, shelled corn bids were 5 to 10 cents
higher at 6.44-6.60. Soybean bids were 4 to 6 cents higher at 14.63-14.81.
Wheat bids were 4 to 6 cents lower at 5.86-6.06.
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 6.31 - 6.45 14.50 - 14.53 -----------
WESTERN 6.35 - 6.41 14.52 - 14.63 -----------
N. CENTRAL 6.34 - 6.40 14.54 - 14.74 -----------
S. CENTRAL 6.43 - 6.59 14.57 - 14.70 -----------
WABASH 6.45 - 6.52 14.63 - 14.70 5.86 - 5.95
W.S. WEST 6.50 - 6.55 14.68 - 14.81 5.96 - 6.06
L. EGYPT 6.44 - 6.60 14.65 - 14.78 5.90 - 6.02
Central Illinois average price Corn 6.46 1/2 (+26 1/2N)
Soybeans 14.64 (-14 N)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
AREA CORN SOYBEANS ***SOFT WHEAT***
NORTHERN 4.81 - 4.95 13.23 - 13.32 -----------
WESTERN 4.80 - 4.88 13.22 - 13.39
N. CENTRAL 4.87 - 4.95 13.26 - 13.37 -----------
S. CENTRAL 4.88 - 5.02 13.27 - 13.37 -----------
WABASH 4.96 - 5.06 13.32 - 13.37 5.85 - 5.97
W.S. WEST 4.99 - 5.06 13.50 - 13.52 6.08 - 6.13
L. EGYPT 5.00 - 5.05 13.32 - 13.37 5.90 - 6.02
***June/July 2012 Delivery
Illinois grains- Grain futures ended mixed this week, with soybean and
wheat bids lower and corn trading slightly to moderately higher.
Liquidation selling as recession fears tied to Europe swept across the
grain complex resulted in grain losses. The dollar traded higher in
response to the weaker Euro. Corn posted gains on strong export sales
for the week. Weekly export sales for corn were well above expectations
at 3,472,200 tonnes with 1,331,900 tonnes slated for 2011-2012 season.
The totals were the highest since 1991. Soybeans had weekly export sales
well above expectations at 1,732,000 tonnes with 598,000 tonnes slated
for 2011-2012 season. Wheat followed other grains lower as ample world
wheat stocks are meeting global demands and limiting buyer interest.
In the Illinois Weather and Crops update released Monday, by the USDA's
NASS Illinois Field Office, most of the state experienced cooler
temperatures and below normal rainfall compared to previous weeks.
Temperatures averaged 54.1 degrees, 2.2 degrees below normal. Statewide
precipitation averaged 0.46 inches, 0.40 inches below normal. The
rainfall was heavier during the weekend, enabling a good amount of
fieldwork to be completed during the week, days suitable increased to
4.8 days, compared to 3.9 the previous week. Corn planting progress has
reached 79 percent statewide, compared to 10 percent this time last year
and a 5-year average of 29 percent. Soybean planting progress is at 13
percent, compared to a 5-year average of 2 percent. The first report of
soybeans emergence was received last week. Wheat headed is at 80 percent
compared to the 5-year average of 6 percent. Topsoil moisture was rated
at 4 percent very short, 18 percent short, 63 percent adequate, and 15
percent surplus. Winter wheat conditions are now rated at 4 percent very
poor to poor, 16 percent fair, 60 percent good and 20 percent excellent.
The trading in the cash grain market was slow. Basis for cash corn
continued to improve at both processors and river terminals. At the
Central Illinois Soybean Processors cash bids ended 4 1/2 to 10 1/2 cents
lower at 14.76 1/2 -14.83 1/2, with basis at 3N to 10N. The Central
Illinois Corn Processors cash bids were 16 to 19 cents higher with bids
ranging from 6.50-6.66 with basis 9 to 12 cents higher at +35N to +52N.
At the Illinois River terminals south of Peoria, cash corn bids ended
12 1/2 to 19 1/2 cents higher ranging from 6.56-6.58, with basis at +42N
to +43N. Cash soybean bids dropped 11 1/2 to 12 1/2 cents at 14.74-14.78,
with basis at +1N to +4N. New crop corn bids for October delivery were
down 1/2 cent to range from 5.06-5.10, with basis 5 cents higher at -23Z
to -19Z. New crop soybean bids advanced 9 to 16 cents to 13.50-13.60,
with basis steady to 70 cents higher ranging from -18X to -8X. New crop
wheat bids for July 2012 delivery were 20 cents lower ranging from 6.06-
6.16, with basis steady ranging from -10N to option N. At the Illinois
River terminals north of Peoria, cash corn bids gained 11 to 14 cents at
6.51-6.52, with basis at +36 1/2N to +37 1/2N. Cash soybean bids dropped
11 1/2 to 12 1/2 cents lower at 14.72 1/2 -14.74 1/2, with basis at -1N
to +1NK. New crop corn bids for October delivery ended 1/2 to 3 1/2
cents lower at 5.02 1/2 -5.08 1/2, with basis 2 to 5 cents higher ranging
from -27Z to -21Z. New crop soybean bids gained 16 to 17 cents to 13.50-
13.52, with basis 7 to 8 cents higher at -18X to -16X. New crop wheat
bids were down 20 cents to 6.10-6.12, with basis unchanged at -5N to -4N.
At the St. Louis terminals cash corn bids were 19 to 20 cents higher at
6.70-6.74, with soybeans down 10 to 11 cents from 14.95-14.96. Cash bids
for Soft Red Winter wheat dropped 19 cents to 6.30-6.31, with cash
sorghum bids down 14 cents to range from 5.84-5.85.
In northern and western Illinois, cash corn bids to producers at country
elevators were 10 to 16 cents higher at 6.23-6.31, with central Illinois
locations 13 to 16 cents higher at 6.27-6.46 and in southern Illinois bids
gained 4 to 15 cents to range from 6.39-6.50. Cash soybean bids in northern
and western were down 7 to 14 cents at 14.53-14.57 with central Illinois
bids losing 4 to 5 cents to 14.53-14.65 and southern Illinois decreased 5
to 10 cents at 14.58-14.76. Cash wheat bids for Soft Red Winter wheat in
southern Illinois locations ended 18 to 19 cents lower to range from
5.92-6.10.
New crop corn bids to producers at the country elevators in northern and
western Illinois were 4 to 5 cents lower to range from 4.85-5.01, with
central Illinois locations down 1 to 6 cents at 4.92-5.07 and in southern
Illinois bids fell 4 cents to 5.01-5.12. New crop soybean bids for October
delivery in northern and western Illinois were 9 to 14 cents higher at
13.24-13.33, with central Illinois locations up 9 cents to 13.27-13.38
and in southern Illinois bids gained 12 to 14 cents at 13.33-13.54. New
crop wheat bids for July 2012 delivery in southern Illinois ended 15 to
20 cents lower at 5.91-6.19.
Central Illinois Average Price at Country Elevators
5/4/2012 4/26/2012
Price Basis Price Basis
Corn 6.36 1/2 22N 6.22 -2K
Soybeans 14.58 1/2 -15N 14.63 1/2 -18K
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
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Grain Prices @ Illinois Interior Country Elevators
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