Illinois grain prices in country elevators

[January 23, 2013]  SPRINGFIELD -- This is Tuesday's report of the grain prices and trends, prepared by the USDA and the Illinois Department of Agriculture.

(Copy)

Illinois country grain prices were mixed on Tuesday afternoon.

Export news helped to lift soybean values, as weekly export inspection figures were higher than expected at 48.1 million bushels.

Also helping to support stronger soybeans prices was the announcement of the sale of 120,000 tonnes of US soybeans to China.

Lower than expected wheat export figures weighed on wheat prices.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were steady to 1 cent higher at 7.12-7.35.

Soybean bids were 22 to 23 cents higher at 14.41-14.61.

In Central Illinois country grain dealers quoted shelled corn bids were steady to 1 cent higher at 7.22-7.39.

Soybean bids were 22 cents higher at 14.54-14.67.

In the Southern part of the state, shelled corn bids were 1 cent stronger at 7.13-7.53.

Soybean bids were 20 to 26 cents higher at 14.72-14.87.

Wheat bids were 12 cents lower at 7.68-7.89.

Commercial grain prices paid farmers by Interior Illinois Country Elevators after 2.00 p.m. Tuesday are listed below in dollars per bushel:

AREA	US 2 CORN	US 1 SOYBEANS	US 2 SOFT WHEAT
NORTHERN	7.20 - 7.35	14.49 - 14.61
WESTERN	7.12 - 7.19	14.41 - 14.61
N. CENT.	7.22 - 7.35	14.54 - 14.67
S. CENTRAL	7.26 - 7.39	14.58 - 14.67
WABASH	7.35 - 7.44	14.72 - 14.81	7.74 - 7.84
W.S. WEST	7.13 - 7.35	14.73 - 14.84	7.71 - 7.78
L. EGYPT	7.41 - 7.53	14.74 - 14.87	7.68 - 7.89

Central Illinois average price

Corn:  7.33 (+ 4 1/2 H)
Soybeans: 14.60 1/2 (+ 9 H)

CONTRACT BIDS FOR JANUARY 2013 DELIVERY

AREA	US 2 CORN	US 1 SOYBEANS	***US 2 SOFT WHEAT
NORTHERN	5.48 - 5.62	12.65 - 12.78
WESTERN	5.45 - 5.50	12.58 - 12.75
N. CENT.	5.51 - 5.65	12.72 - 12.82
S. CENTRAL	5.53 - 5.68	12.77 - 12.88
WABASH	5.55 - 5.70	12.75 - 12.83	7.61 - 7.75
W.S. WEST	5.45 - 5.61	12.73 - 12.87	7.62 - 7.63
L. EGYPT	5.65 - 5.74	12.83 - 12.93	7.50 - 7.61

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of	1/10/2013	1/3/2012
	Price--Basis	Price--Basis
Corn	7.27 + 2 1/2H	6.99 option H
Soybeans	14.42 +12H	13.93 +13 H

Annual Comparison

	December 2012	January 2012
	Price--Basis	Price--Basis
Corn	7.23 option H	6.25 -6H
Soybeans	14.50 -8F	11.82 -221/2 H

[Text copied from USDA-IL Dept of Ag Market News, Springfield]