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Illinois country grain prices were
lower on Friday afternoon.
Technical selling at the Board of
Trade helped to weaken soybean futures.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were 7 to 10 cents lower at 4.59-4.85.
Soybean bids were 20 to 30 cents
lower at 13.62-14.24.
In Central Illinois country grain dealers quoted shelled corn
bids were down 20 to 30 cents at 4.56-4.83.
Soybean bids were 35 to 45 cents
lower at 14.26-14.61.
In the Southern part of the state, shelled corn bids were 8 to
16 cents lower at 4.49-4.74.
Soybean bids were 14 to 28 cents
lower at 13.90-14.47.
Wheat bids were 9 to 11 cents
lower at 5.91-6.12.
Grain futures ended higher this
week at the Board of Trade.
Traders waited all week to look at
the latest figures from the USDA's September Crop Production and
Supply Demand reports.
Trading activity was light until
the release of the report.
Traders thought the 13.84 billion
bushel corn crop was higher than the average estimate and pushed
the carryout figure for the 2013-2014 crop to a number which was
also higher than expected at 1.855 billion bushels.
For soybeans, the report was
considered a little friendlier by traders.
The size of the US soybean crop
was forecasted to be 3.149 billion bushels, which was very near
the average estimate.
However, the carryout figure for
the 2013-2014 soybean crop was under some estimates at 150
million bushels.
This was a source of strength for
soybean futures.
In the USDA report, the US corn crop was forecasted at 13.8
billion bushels, with an average yield of 155.3 bushels per acre
as of September 1st.
If realized, this would be the
largest corn crop in US history.
The US soybean crop was forecasted
to produce 3.149 billion bushels, with an average yield of 41.2
bushels per acre.
The carryout for the 2013-2014
corn crop was estimated at 1.855 billion bushels, with the
soybean carryout forecasted at 150 million bushels.
For Illinois producers, their corn crop was estimated to be
1.963 billion bushels, with an average yield of 165 bushels per
acre, which would come from 11.9 million harvested acres.
The Illinois soybean crop was
estimated to
produce 430.1 million bushels, with an average yield of 46
bushels per acre, from 9.35 million acres.
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.
But this time of the growing
season, more emphasis might be placed on the maturity of the
crop, as opposed to the condition of the crop.
As of September 8st, the Illinois
corn crop placed 55% in the good to excellent category, down 2%
from one week ago.
The Illinois soybean crop was 3%
lower from last week at 49% good to excellent category.
With some farmers starting their
Fall harvest, the Illinois corn crop continues to mature.
There was 69% in the dent stage,
compared to 97% last year and 78% for the five year average.
There was 6% rated as mature,
compared to 73% last year and 38% for the five year average.
There was now 18% of the soybean
crop turning yellow, compared to 57% last year and 37% for the
five year average.
There was 3% of the state's crop
starting to drop leaves, compared to 19% last year and 12% for
the five year average.
Pasture conditions continued to
fall, with 37% very poor to poor, with 40% fair and 23% rated
good to excellent.
The trading in the cash grain
market was slow to moderate this week, but activity was picking
up.
With some farmers beginning corn
harvest and the soybean harvest getting closer, the cash basis
ended sharply lower this week for both corn and soybeans.
There were a few quick shipment
bids still available, but they were fading fast.
So while the futures market ended
higher for the week, the cash prices ended sharply lower.
[to top of second
column] |
The Central Illinois Soybean
Processors cash bids were down 26 to 31 cents to 14.96-15.06,
with basis falling 45 to 60 cents ranging from +100X to +110X.
At the Central Illinois Corn
Processors cash bids were 62 to 77 cents lower ranging from
4.91-5.26, with basis down 30 to 45 cents ranging from +25Z to
+60Z.
At the Illinois River terminals
south of Peoria, cash corn bids were down 36 to 50 cents ranging
from 4.80-4.91, with basis dropping 41 to 55 cents ranging from
+14Z to +25Z.
Cash soybean bids lost 18 to 21
cents with bids ranging from 14.36-14.54, with basis down 47 to
50 cents ranging from +40X to +58X.
At the Illinois River terminals
north of Peoria, cash corn bids dropped 40 cents to 4.81-5.01,
with basis down 45 cents at +15Z to +35Z.
Cash soybean bids were down 50 to
59 cents to range from 14.16-14.32, with basis falling 79 to 88
cents ranging from +20X to +36X.
At the St. Louis terminals cash
corn bids closed 10 to 11 cents lower ranging from 4.73-4.91,
with soybeans up 5 to 16 cents ranging from 14.33-14.46.
Cash bids for Soft Red Winter
wheat were 8 cents higher at 6.22-6.23 and cash sorghum bids
were 5 cents stronger at 4.90-4.91.
In northern and western Illinois, cash corn bids to producers at
country elevators were 45 to 49 cents lower at 4.66-4.92, with
central Illinois locations 42 to 61 cents lower at 4.84-5.05 and
in southern Illinois bids were 15 to 54 cents lower ranging from
4.65-4.82.
Cash soybean bids in northern and
western locations were down 3 to 53 cents at 13.82-14.54, with
central Illinois bids down 16 to 19 cents at 14.70-14.96 and
southern Illinois bids were mixed at 14.18-14.61.
Cash wheat bids for Soft Red
Winter wheat in southern Illinois gained 12 to 13 cents ranging
from 6.05-6.21.
___
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 |
4.66 - 4.85 |
13.62 - 13.72 |
|
|
WESTERN |
4.59 - 4.79 |
14.21 - 14.24 |
|
|
N. CENT. |
4.56 - 4.73 |
14.26 - 14.42 |
|
|
S. CENTRAL |
4.72 - 4.83 |
14.55 - 14.61 |
|
|
WABASH |
4.55 - 4.66 |
14.22 - 14.47 |
5.99 - 6.10 |
|
W.S. WEST |
4.61 - 4.74 |
13.90 - 14.09 |
5.94 - 6.12 |
|
L. EGYPT |
4.49 - 4.69 |
14.17 - 14.22 |
5.91 - 6.02 |
Central Illinois average price
Corn: 4.69 1/2 (+ 10 1/2
Z)
Soybeans:
14.43 1/2 (+ 62 X)
CONTRACT BIDS FOR NEW CROP JANUARY 2014 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
4.42 - 4.55 |
13.49 - 13.63 |
|
|
WESTERN |
4.34 - 4.46 |
13.56 - 13.69 |
|
|
N. CENT. |
4.43 - 4.57 |
13.94 - 14.02 |
|
|
S. CENTRAL |
4.50 - 4.58 |
13.76 - 13.82 |
|
|
WABASH |
4.52 - 4.57 |
13.65 - 13.75 |
|
|
W.S. WEST |
4.52 - 4.68 |
13.90 - 13.99 |
|
|
L. EGYPT |
4.51 - 4.60 |
13.75 - 13.85 |
|
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
9/12/2013 |
9/5/2013 |
| |
Price--Basis |
Price--Basis |
|
Corn |
4.94
1/2 +28Z |
5.46
+85Z |
|
Soybeans |
14.83 +87X |
14.96 +129X |
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]
 |
