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Illinois country grain prices were lower on Friday afternoon.
Beneficial weather conditions and thoughts of a large corn and
soybean crop weighed on grain prices.
Traders also evened positions ahead of the USDA crop report,
which is to be released Monday morning at 11:00 am.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were 5 to 7 cents lower at 5.70-5.86.
Soybean bids were mixed at 12.73-13.11.
In Central Illinois country grain dealers quoted shelled corn
bids were 2 to 7 cents lower at 5.69-5.93.
Soybean bids were 2 to 5 cents lower at 13.14-13.39.
In the Southern part of the state, shelled corn bids were mostly
5 to 8 cents lower at 5.31-5.76.
Soybean bids were 2 to 6 cents lower at 12.86-13.17.
Wheat bids were mostly 7 to 12 cents lower at 6.04-6.56.
Illinois grains ended lower this week at the Board of Trade.
The continuation of the good growing conditions and thoughts of
a large crop kept pressure on grain prices.
Traders were also preparing for the release of the USDA's crop
report on Monday the 12th of August.
Soybean futures did get a boost from higher than expected weekly
export sales of soybeans and
soybean meal on Thursday.
Wheat futures were weakened by light export demand and poor
export interest
This week's Illinois Weather and Crops report, released by the
Illinois Field office of the National Ag Statistics Service,
showed an increase in
the crop condition ratings this week.
The Illinois crops responded to last week's beneficial rainfall.
As of August 4th, the Illinois corn crop placed
72% in the good to excellent category, up 8% from one week ago.
The Illinois soybean crop was 3% higher from last week at 74%
good to excellent category.
Topsoil moisture increased 4% with 73% adequate, 2% surplus and
23% short.
The western region was not the driest region this week; the
southwest region was now the driest with 45% short.
This week there was now 95% of the state's corn crop in the silk
stage, compared to 100% last year
and 95% for the five year average.
There was 30% in the dough stage, compared to 78% last year and
the five year average of 49%.
We also officially had 1% in the dent stage, compared to 35%
last year and 13% for
the five year average.
There was 81% of the state's soybean crop blooming, compared to
97% last year and 84% for the five year average.
There was 39% of the state's soybean crop setting pods, compared
to 79% last year and 50%
for the five year average.
The trading in the cash grain market was slow this week.
Falling grain prices had many farmers closing the bin doors and
hoping for prices to recover.
For the most part, the cash basis improved this week at the
processors, with the river terminals basis ending mixed.
With 1% of the Illinois corn crop in the dent stage, grain
merchandisers are starting to plan for the arrival of new crop
corn.
The Central Illinois Soybean Processors cash bids were mixed
ranging from 13.49-13.64, with basis up 5 to 10 cents ranging
from +165X to +180X.
At the Central Illinois Corn Processors cash bids were mixed
ranging from 6.03-6.18, with basis 10 to 15 cents higher at
+130U to +145U.
[to top of second
column] |
At the Illinois River terminals south of Peoria, cash corn bids
were down 9 to 17 cents ranging from 5.43-5.68, with basis mixed
ranging from +70U to +95U.
Cash soybean bids were down 6 to 18
cents with bids ranging from 13.24-13.27, with basis mixed
ranging from +140X to +143X. Wheat bids were 28 to 34 cents
lower ranging from 6.19-6.36, with basis 11 to 17 cents lower at
-22U to -5U.
At the Illinois River terminals north of Peoria, cash corn bids
fell 4 to 7 cents to 5.93-6.00, with basis up 7 to 10 cents at
+120U to +127U.
Cash soybean bids lost 3 to 14 cents to range from 13.58-13.60, with basis ranging from
+174X to +176X.
Wheat bids were 27 to 30 cents lower ranging from 6.30-6.35,
with basis down
10 to 13 cents at -11U to -6U.
At the St. Louis terminals
cash corn bids
closed 32 to 49 cents lower ranging from 5.08-5.53, with
soybeans up 2 to 94
cents ranging from 12.96-13.16.
Cash bids for Soft Red Winter
wheat were 32
cents lower at 6.51-6.52 and cash sorghum bids were 8 cents
lower at 6.37-6.38.
In northern and western Illinois, cash corn bids to producers at
country
elevators were up 13 to 17 cents at 5.77-5.91, with central
Illinois
locations 10 to 13 cents lower at 5.76-5.95 and in southern
Illinois bids
dropped 24 to 33 cents ranging from 5.44-5.84.
Cash soybean bids
in northern
and western locations were down 32 to 37 cents at 12.81-13.09,
with central
Illinois bids mixed at 13.16-13.44 and southern Illinois bids
were down 40
to 49 cents ranging from 12.92-13.19.
Cash wheat bids for Soft
Red Winter
wheat in southern Illinois fell 16 to 22 cents ranging from
6.16-6.53.
___
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 |
5.71 - 5.80 |
12.73 - 13.11 |
|
|
WESTERN |
5.70 - 5.86 |
12.88 - 13.02 |
|
|
N. CENT. |
5.69 - 5.93 |
13.22 - 13.39 |
|
|
S. CENTRAL |
5.74 - 5.86 |
13.14 - 13.29 |
|
|
WABASH |
5.55 - 5.76 |
13.05 - 13.17 |
6.10 - 6.24 |
|
W.S. WEST |
5.63 - 5.72 |
12.86 - 12.97 |
6.30 - 6.56 |
|
L. EGYPT |
5.31 - 5.56 |
13.02 - 13.12 |
6.04 - 6.24 |
Central Illinois average price
Corn: 5.81 (+115 U)
Soybeans:
13.26 1/2 (+144 X)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
4.23 - 4.38 |
11.44 - 11.64 |
|
|
WESTERN |
4.21 - 4.31 |
11.50 - 11.57 |
|
|
N. CENT. |
4.22 - 4.41 |
11.46 - 11.67 |
|
|
S. CENTRAL |
4.27 - 4.38 |
11.58 - 11.72 |
|
|
WABASH |
4.25 - 4.38 |
11.60 - 11.72 |
|
|
W.S. WEST |
4.21 - 4.33 |
11.74 - 11.90 |
|
|
L. EGYPT |
4.28 - 4.32 |
11.62 - 11.72 |
|
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
8/8/2013 |
8/1/2013
|
| |
Price--Basis |
Price--Basis |
|
Corn |
5.85 1/2 +112U |
5.97 +116U |
|
Soybeans |
13.30 +146X |
13.32 1/2 +140X |
Annual Comparison
|
|
July
2013 |
August 2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
6.60
1/2 +132U |
8.15 +11 1/2U |
|
Soybeans |
15.19 +85 1/2Q |
17.09 +44 1/2X |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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