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Illinois country grain prices were mixed on Friday afternoon.
Technical buying at the Board of Trade helped to lift grain
prices.
Larger than expected weekly export sales figures also helped to
push soybean futures higher.
Traders are now looking forward to next Thursday's USDA crop
report.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were mostly 1 to 3 cents lower at 5.08-5.40.
Soybean bids were mixed at 14.28-14.60.
In Central Illinois country grain dealers quoted shelled corn
bids were mixed at 5.30-5.63.
Soybean bids were steady to 1 cent higher at 14.87-15.07.
In the Southern part of the state, shelled corn bids were mixed
at 4.87-5.29.
Soybean bids were 7 to 9 cents higher at 14.28-14.58.
Wheat bids were up 8 to 10 cents at 6.03-6.15.
Grain futures ended lower this week at the Board of Trade.
Soybean futures started Tuesday sharply higher supported by
lighter than expected rainfall
over the long holiday weekend and a dry extended weather
forecast for the balance of the week.
Traders have closely watched the weather forecast and have
traded the market on the information in that forecast.
Other than the weather, the grain markets have had very little
fresh news to help move prices.
This week's Illinois Weather and Crops report, released by the
Illinois Field office of the National Ag Statistics Service, saw
another decline in
crop conditions, especially the soybean crop.
As of September 1st, the Illinois corn crop placed 57% in the
good to excellent category, down 2%
from one week ago.
The Illinois soybean crop was 8% lower from last week at 52%
good to excellent category.
Topsoil moisture declined 8% with 23% adequate, 0% surplus and
77% very short to short.
The warm and dry weather was helping the corn crop to mature,
but it's still slightly behind the five year average.
This week there was 93% in the dough stage, compared to 99% last
year and the five year average of 94%.
There was 46% in the dent stage, compared to 94% last year and
69% for the five year average.
There were several reports of farmers shelling corn and starting
to harvest their 2013 corn crop.
Most of the activity was happening in the southeastern area of
the state.
There was 91% of the state's soybean crop setting pods, compared
to 99% last year and 97% for the five year average.
There was 4% of the soybean crop turning yellow, compared to 38%
last year and 20% for the five year average.
Pasture conditions continued to fall rapidly, with 29% very poor
to poor, with 43% fair and 28% rated good to excellent.
The trading in the cash grain market was slow to moderate this
week.
Cash basis levels for soybeans were steady to firm at the
processors, while the river terminals were lower.
The cash corn basis was sharply lower.
With the switching of the cash basis month from September (U) to
December (Z) in corn this week, it was impossible to measure,
but the drop was sudden and severe if you were a seller.
In many cases the corn basis fell 35 to 45 cents a bushel, with
some instances up to 70 cents.
Corn processors and river terminals alike are anxiously
anticipating the arrival of the 2013 corn crop.
With some producers starting in the southern areas of the state
this week, many more will follow in the next couple of weeks.
The Central Illinois Soybean Processors cash bids were up 4 to 9
cents to 15.12-15.37, with basis 5 to 10 cents higher ranging
from +145X to +170X.
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column] |
At the Central Illinois Corn Processors cash bids were 56 to 66
cents lower ranging from 5.31-5.51, with basis ranging from +70Z
to +90Z.
At the Illinois River terminals south of Peoria, cash corn bids
were down 66 to 80 cents ranging from 5.16-5.41, with basis
ranging from +55Z to +80Z.
Cash soybean bids lost 11 to 12 cents with bids ranging from
14.57-14.72, with basis down 10 to 11 cents ranging from +90X to
+105X.
Wheat bids were 10 to 11 cents lower ranging from 5.95-6.05,
with basis at -45Z to -35Z.
At the Illinois River terminals north of Peoria, cash corn bids
dropped 86 to 91 cents to 5.21-5.41, with basis at +60Z to +80Z.
Cash soybean bids were down 11 to 13 cents to range from
14.75-14.82, with basis falling 10 to 12 cents ranging from
+108X to +115X.
Wheat bids were 26 to 34 cents lower ranging from 5.90-5.95,
with basis at -50Z to -45Z.
At the St. Louis terminals cash corn bids closed 93 to 99 cents
lower ranging from 4.84-5.01, with soybeans down 30 to 89 cents
ranging from 14.17-14.41.
Cash bids for Soft Red Winter wheat were 21 cents lower at
6.14-6.15 and cash sorghum bids were 20 cents lower at
4.85-4.86.
In northern and western Illinois, cash corn bids to producers at
country elevators were 69 to 79 cents lower at 5.11-5.41, with
central Illinois
locations 48 to 57 cents lower at 5.26-5.66 and in southern
Illinois bids were 71 to 82 cents lower ranging from 4.80-5.36.
Cash soybean bids in northern and western locations were down 9
to 20 cents at 14.35-14.57, with central Illinois bids mixed at
14.86-15.07 and southern Illinois bids fell 25 to 29 cents
ranging from 14.20-14.47.
Cash wheat bids for Soft Red Winter wheat in southern Illinois
lost 13 to 22 cents ranging from 5.93-6.08.
___
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 |
5.28 - 5.40 |
14.28 - 14.48 |
|
|
WESTERN |
5.08 - 5.15 |
14.47 - 14.60 |
|
|
N. CENT. |
5.51 - 5.63 |
14.87 - 15.07 |
|
|
S. CENTRAL |
5.30 - 5.48 |
14.88 - 15.02 |
|
|
WABASH |
5.03 - 5.18 |
14.28 - 14.38 |
6.05 - 6.16 |
|
W.S. WEST |
5.23 - 5.29 |
14.39 - 14.58 |
6.08 - 6.15 |
|
L. EGYPT |
4.87 - 4.98 |
14.28 - 14.38 |
6.03 - 6.08 |
Central Illinois average price
Corn: 5.46 1/2 (+ 78 Z)
Soybeans:
14.97 (+129 X)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
4.43 - 4.57 |
13.33 - 13.47 |
|
|
WESTERN |
4.40 - 4.48 |
13.30 - 13.43 |
|
|
N. CENT. |
4.43 - 4.51 |
13.45 - 13.60 |
|
|
S. CENTRAL |
4.42 - 4.54 |
13.48 - 13.56 |
|
|
WABASH |
4.40 - 4.53 |
13.45 - 13.53 |
|
|
W.S. WEST |
4.42 - 4.55 |
13.52 - 13.65 |
|
|
L. EGYPT |
4.42 - 4.48 |
13.45 - 13.53 |
|
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
9/5/2013 |
8/29/2013 |
| |
Price--Basis |
Price--Basis |
|
Corn |
5.46
+85Z |
5.98
1/2 +100U |
|
Soybeans |
14.96 +129X |
14.96 +128X |
Annual Comparison
|
|
August 2013 |
September 2012 |
| |
Price--Basis |
Price--Basis |
|
Corn |
5.98
1/2 +115U |
7.69
1/2 +6Z |
|
Soybeans |
14.00 +135 1/2X |
16.71 -4 1/2 X |
[Text copied from
USDA-IL
Dept of Ag Market News, Springfield]
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