GX_GR113
Springfield, IL Fri Feb 22, 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 lower on Friday afternoon, with
soybeans sharply lower. Technical selling at the Board of Trade helped
to send soybean futures lower. Many traders decided to take profits ahead
of the weekend. In the cash markets, trading was moderate. Some producers
took advantage of the higher cash soybean bids to make some addititonal
sales.
In Northern and Western Illinois country grain dealers quoted shelled corn
bids were mixed at 6.83-7.11. Soybean bids were 24 to 27 cents lower at
14.46-14.61.
In Central Illinois country grain dealers quoted shelled corn bids were
steady to 1 cent higher at 6.91-7.10. Soybean bids were down 28 to 29
cents at 14.63-14.73.
In the Southern part of the state, shelled corn bids were 1 cent lower
at 6.86-7.15. Soybean bids were 26 to 27 cents lower at 14.70-14.87.
Wheat bids were 6 to 10 cents lower at 7.10-7.30.
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 6.85 - 7.11 14.48 - 14.53 -----------
WESTERN 6.83 - 6.93 14.46 - 14.61 -----------
N. CENTRAL 6.91 - 7.00 14.63 - 14.71 -----------
S. CENTRAL 7.00 - 7.10 14.65 - 14.73 -----------
WABASH 6.97 - 7.15 14.73 - 14.81 7.10 - 7.23
W.S. WEST 6.86 - 6.94 14.70 - 14.80 7.24 - 7.30
L. EGYPT 7.05 - 7.15 14.80 - 14.87 7.20 - 7.30
Central Illinois average price Corn 7.00 1/2 (+ 10 H)
Soybeans 14.68 (+ 7 H)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
AREA CORN SOYBEANS ***SOFT WHEAT***
NORTHERN 5.13 - 5.34 12.25 - 12.37 -----------
WESTERN 5.14 - 5.25 12.22 - 12.35 -----------
N. CENTRAL 5.14 - 5.29 12.24 - 12.35 -----------
S. CENTRAL 5.19 - 5.32 12.32 - 12.42 -----------
WABASH 5.23 - 5.32 12.32 - 12.48 6.92 - 6.96
W.S. WEST 5.24 - 5.29 12.42 - 12.53 6.78 - 6.88
L. EGYPT 5.28 - 5.38 12.35 - 12.48 6.77 - 6.92
***June/July 2013 delivery
Illinois grains ended mixed with soybeans sharply higher and corn and wheat lower. Soybean
values improved due to technical buying at the Board of Trade, good export interest, especially
from China, drier than expected weather for the South American soybean crop and
transportation and shipping delays for the newly harvested South American soybean crop.
China made several new purchases of US soybeans this week. So demand for US soybeans
has been good. Normally at this stage of the South American soybean harvest exporting
countries would be taking delivery, but that has not happened due to transportation delays and
a threatened strike by port workers. So this has the possibility of increasing demand for US
soybeans in the near term. The strong rally in soybean meal also helped to lift soybean prices.
Wheat futures were boosted by good export interest this week, but beneficial moisture from
this week's major winter snow storm for the plain states weighed on wheat values.
The trading in the cash grain market was slow. The soybean basis ended mostly steady at the
Central Illinois Processors, but improved slightly at the Illinois River terminals. It seems like
the cash corn basis did the exact opposite, with corn processors basis getting stronger and
river basis getting weaker. Some corn processors had been going along and had needs for
corn filled, but this week things changed and basis improved. Some producers had given up
hope on selling 15.00 cash soybeans again, but this market gave them yet another opportunity
with this week's rally. The Central Illinois Soybean Processors cash bids were 68 to 70 cents
higher ranging from 15.14-15.26, with basis steady to 2 cents lower at +26H to +38H. The
Central Illinois Corn Processors cash bids were 1 cent higher ranging from 7.11-7.31, with
basis 5 cents higher ranging from +20H to +40H. At the Illinois River terminals south of Peoria,
cash corn bids ended 3 to 6 cents lower ranging from 7.05-7.06, with basis mixed at +14H to
+15H. Cash soybean bids gained 71 to 74 cents to 15.10-15.13, with basis up 1 to 4 cents
ranging from +22H to +25H. New crop wheat bids for delivery in July 2013 ended 18 cents
lower ranging from 7.06-7.08, with basis down 2 cents at -22N to -20N. At the Illinois River
terminals north of Peoria, cash corn bids were down 5 to 6 cents at 6.99-7.03, with basis 1 to 2
cents lower at +8H to +12H. Cash soybean bids were up 73 to 74 cents at 15.08-15.10, with
basis 3 to 4 cents stronger ranging from +20H to +22H. New crop wheat bids for July 2013
delivery fell 7 to 12 cents to range from 7.12-7.13, with basis up 4 to 9 cents at -16N to -15N.
At the St. Louis terminals cash corn bids were 4 cents lower at 7.05-7.06, with soybeans
gaining 74 to 77 cents ranging from 15.27-15.28. Cash bids for Soft Red Winter wheat fell 15
cents to 7.56-7.57 and cash sorghum bids were down 4 cents to range from 6.95-6.96.
In northern and western Illinois, cash corn bids to producers at country elevators were mixed
cents at 6.84-7.07, with central Illinois locations down 3 to 4 cents at 6.91-7.09 and in southern
Illinois bids were 2 to 4 cents lower ranging from 6.87-7.16. Cash soybean bids in northern and
western locations were up 72 to 78 cents at 14.70-14.88 with central Illinois bids 68 to 70 cents
higher at 14.92-15.01 and southern Illinois bids gained 69 to 74 cents at 14.97-15.13. Cash
wheat bids for Soft Red Winter wheat in southern Illinois locations lost 8 to 11 cents to 7.16-
7.40. New crop wheat bids for June-July delivery in southern Illinois were 18 to 26 cents lower
to range from 6.81-7.00.
Central Illinois Average Price at Country Elevators
2/21/2013 2/14/2013 January 2013 February 2012
Price Basis Price Basis Price Basis Price Basis
Corn 7.00 +9H 7.03 1/2 +9H 7.17 +2H 6.41 + 1/2H
Soybeans 14.96 1/2 +9H 14.27 1/2 +9 1/2H 14.30 +11H 12.40 -15H
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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