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Illinois country grain prices were higher on Friday afternoon.
Wheat futures were supported by good export demand and concern
with the cold temperatures in the forecast for the western
Plains states.
Corn rose supported by stronger wheat values and technical
trading at the Board of Trade.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were 6 to 8 cents higher at 6.58-6.70.
Soybean bids were mostly 6 to 11cents higher at 14.20-14.35.
In Central Illinois country grain dealers quoted shelled corn
bids were 4 to 7 cents higher at 6.61-6.73.
Soybean bids were mostly 9 to 14 cents higher at 14.29-14.45.
In the Southern part of the state, shelled corn bids were 6 to 9
cents higher at 6.44-6.84.
Soybean bids were 10 to 16 cents higher at 14.33-14.47.
Wheat bids were 16 to 20 cents higher at 7.08-7.23.
Illinois grains ended higher this week at the Board of Trade.
The focus of the week for many traders and grain industry people
was the release of the new Supply Demand report from the USDA.
The new carry out figure for corn was supportive for corn
futures at 757 million bushels.
This number fell under the average estimate of 812 million
bushels, helping to lift prices for the rest of the week.
The soybean carryout figure was also supportive and under the
average estimate at 125 million bushels.
Strong cash basis levels also have been supportive to both corn
and soybean values.
The carryout figure for wheat was considered slightly negative
at 731 million bushels, but dry conditions on the Plain states
and poor crop condition numbers for the US wheat crop continue
to support wheat values.
Also helping to lift prices this week was the sale of US wheat
to China.
Also included in the USDA's Supply Demand forecast was an update
on the South American
crop estimates.
The Argentine corn crop was forecasted at 26.5 million metric
tonnes, compared to 25.7 mmt last month.
Their soybean crop was forecasted at 51.5 mmt, compared to 50.6
mmt last month.
The Brazilian corn crop was estimated at 74.00 mmt, compared to
72.9 mmt last month.
Their soybean crop was forecasted at 83.5 mmt, compared to 82.8
mmt last month.
So it appears their crop is better than previously expected.
 The trading in the cash grain market was slow this week.
Last week the weaker grain prices had many producers with grain
left to sell closing the bin door and waiting for higher prices
to return.
Those producers are still waiting, but prices are better and
basis continues to move up, with the
exception of processor corn.
The soybean processors and river terminals have increased basis
too to try to give farmers incentive to move some grain.
At the Central Illinois Soybean Processors cash bids were 34 to
40 cents higher ranging from 14.54-14.67, with basis up 4 to 10
cents ranging from +52K to +65K.
At the central Illinois Corn Processors cash bids were 14 to 18
cents higher ranging from 6.73-6.84, with basis down 3 to 7
cents at +22K to +33K.
At the Illinois River terminals south of Peoria, cash corn bids
ended 24 to 30 cents higher ranging from 6.66-6.75, with basis
up 3 to 9 cents to +15K to +24K.
[to top of second column] |
Cash soybean bids gained 47 to 50 cents to 14.47-14.52, with
basis up 17 to 20 cents ranging from +45K to +50K.
New crop wheat bids for delivery in July 2013 ended 5 to 14
cents higher ranging from 7.03-7.04, with basis 1 to 10 cents
stronger at option N to +1N.
At the Illinois River terminals north of Peoria, cash corn bids
were up 24 to 26 cents at 6.66-6.71, with basis up 3 to 5 cents
to range from +15K to +20K.
Cash soybean bids gained 35 to 39 cents to
14.44-14.47, with basis 5 to 9 cents higher ranging from +42K to
+45K.
New crop wheat bids for July 2013 delivery gained 8 to 9 cents
to range from 7.05-7.07, with basis 4 to 5 cents higher at +4N
to +5N.
At the St. Louis terminals cash corn bids closed 23 to 26 cents
higher ranging from 6.61-6.69, with soybeans up 39 to 41 cents
ranging from 14.47-14.54.
Cash bids for Soft Red Winter wheat were up 13 cents to
7.16-7.17 and cash sorghum bids gained 11 cents to 6.30-6.31.
In northern and western Illinois, cash corn bids to producers at
country elevators were up 17 to 23
cents to 6.51-6.62, with central Illinois locations gaining 13
to 19 cents at 6.54-6.69 and in
southern Illinois bids were 18 cents higher ranging from
6.35-6.76.
Cash soybean bids in northern and western locations were up 30
to 40 cents at 14.02-14.26, with central Illinois bids 31 to 38
cents higher at 14.20-14.31 and southern Illinois bids gained 29
to 30 cents at 14.17-14.32.
Cash wheat bids for Soft Red Winter wheat in southern Illinois
locations ended 3 to 7 cents higher ranging from 6.88-7.06.
New crop wheat bids for June-July delivery in southern Illinois
were up 8 to 10 cents ranging from 6.78-7.02.
___
Commercial grain prices paid farmers
by Interior Illinois Country Elevators after 2.00 p.m. Friday are listed below in dollars per bushel:
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
US 2
SOFT
WHEAT |
|
NORTHERN |
6.61 - 6.70 |
14.20 - 14.34 |
|
|
WESTERN |
6.58 - 6.66 |
14.20 - 14.35 |
|
|
N. CENT. |
6.65 - 6.73 |
14.31 - 14.45 |
|
|
S. CENTRAL |
6.61 - 6.73 |
14.29 - 14.38 |
|
|
WABASH |
6.74 - 6.84 |
14.33 - 14.41 |
7.09 - 7.15 |
|
W.S. WEST |
6.44 - 6.64 |
14.39 - 14.47 |
7.08 - 7.17 |
|
L. EGYPT |
6.79 - 6.83 |
14.38 - 14.43 |
7.12 - 7.23 |
Central Illinois average price
Corn: 6.67
(+ 8 1/2 K)
Soybeans:
14.37 (+24
K)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
5.16 - 5.30 |
11.91 - 12.02 |
|
|
WESTERN |
5.13 - 5.24 |
11.92 - 12.02 |
|
|
N. CENT. |
5.14 - 5.25 |
11.93 - 12.02 |
|
|
S. CENTRAL |
5.23 - 5.31 |
12.10 - 12.17 |
|
|
WABASH |
5.22 - 5.35 |
12.02 - 12.10 |
6.95 - 7.08 |
|
W.S. WEST |
5.15 - 5.25 |
12.10 - 12.24 |
7.07 - 7.18 |
|
L. EGYPT |
5.25 - 5.35 |
11.99 - 12.15 |
7.00 - 7.08 |
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
4/11/2013 |
4/4/2013 |
| |
Price--Basis |
Price--Basis |
|
Corn |
6.61 1/2 +10K |
6.45 1/2 +15 1/2K |
|
Soybeans |
14.25 1/2 +23 1/2K |
13.91 +19K |
Annual Comparison
|
|
March 2013 |
April 2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
7.33
+16 1/2K |
6.34 - 1/2K |
|
Soybeans |
14.62 +17K |
14.23 -17 1/2K |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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