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Illinois country grain prices were
lower on Friday afternoon. With little new information to trade
on, futures prices went lower. Technical selling at the Board of
Trade did help to weaken corn and soybean futures. In the cash
markets, trading has been slow to moderate. Cash basis levels
have stabilized somewhat for corn and soybeans after their sharp
declines over the last two weeks.
In Northern and Western Illinois country grain dealers quoted
shelled corn bids were mostly 5 to 9 cents lower at 4.26-4.75.
Soybean bids were down 24 cents at 12.85-13.15.
In Central Illinois country grain dealers quoted shelled corn
bids were mostly 7 to 9 cents lower at 4.33-4.56. Soybean bids
were mostly 22 to 27 cents lower at 12.95-13.40.
In the Southern part of the state, shelled corn bids were 3 to 9
cents lower at 4.26-4.51. Soybean bids were 24 to 30 cents lower
at 12.91-13.27. Wheat bids were 15 to 16 cents lower at
5.94-6.20.
Grain futures ended mixed this week at the Board of Trade, with
wheat higher and corn and soybeans lower. Soybeans futures
had very little bullish news to keep prices moving up. The
threat of showers and cooler temperatures for the cornbelt
weighed on soybean futures. The National Oilseed and
Processors Association released the soybean crush figures for
August at 124.8 million bushels, which was lower than expected.
Weekly export sales figures were good this week for soybeans and
wheat and lighter than expected for corn. This week,
export sales figures for soybeans totaled 923,300 tonnes, with
wheat at 704,400 tonnes and corn at 437,400 tonnes. The
sale of US wheat to Japan also helped to boost wheat values
along with better export demand.
This week's Illinois Weather and Crops report, released by the
Illinois Field office of the
National Ag Statistics Service, made it official that corn
harvest has started. As of September 15th, there was 1% of
the Illinois corn crop harvested, compared to 34% last year and
14% for the five year average. There was 25% of the
corn crop rated as mature and 84% of the crop in the dent stage.
There was 13% of the Illinois soybean crop dropping leaves,
compared to 42% last year and 27% for the five year average.
There was 42% of the soybean crop turning yellow, compared to
76% last year and 58% for the five year average.
With several acres left unplanted
this Spring due to flooding and persistent rainfall, several
farmers have started planting wheat, with 1% of the state's crop
now planted, compared to 1% last year and 1% for the five year
average. Pasture conditions dropped again, with 40% very
poor to poor, with 42% fair and 18% rated good to excellent.
The trading in the cash grain market was moderate this week. The
fact that many corn and soybean processors had figured out that
maybe now they had enough inventory to sustain them until the
new crop arrived sent basis sharply lower. This fact also
put pressure on cash bids this week. Quick shipment bids
were also disappearing. At many processors basis fell
between 30 to 60 cents per bushel. With that said cash
bids for both corn and soybeans ended sharply lower. Many
country grain elevators and terminals were getting some new crop
corn and limited amount of new crop soybeans. Most
elevator managers expected it would be a week or two before
grain would be coming in on a more consistent basis.
The Central Illinois Soybean
Processors cash bids dropped 1.12 to 1.17 to 13.84-13.89, with
basis falling 55 to 60 cents ranging from +45X to +50X. At the
Central Illinois Corn Processors cash bids were 40 to 57 cents
lower ranging from 4.51-4.69, with basis down 33 to 50 cents
ranging from -8Z to +10Z.
At the Illinois River terminals
south of Peoria, cash corn bids were down 43 to 47 cents ranging
from 4.37-4.44, with basis dropping 36 to 40 cents ranging from
-22Z to -15Z. Cash soybean bids lost .97 to 1.10 with bids
ranging from 13.39-13.44, with basis down 40 to 53 cents ranging
from option X to +5X.
[to top of second
column] |
At the Illinois River terminals north of Peoria,
cash corn bids dropped 37 cents to 4.44-4.64, with basis down 30 cents at -15Z
to +5Z. Cash soybean bids were down 77 to 84 cents to range from 13.39-13.48,
with basis falling 20 to 27 cents ranging from option X to +81/2 X. At the
St. Louis terminals cash corn bids closed 25 to 27 cents lower ranging from
4.48-4.64, with soybeans down 84 to 87 cents ranging from 13.49-13.59. Cash bids
for Soft Red Winter wheat were 5 cents lower at 6.17-6.18 and cash sorghum bids
were 2 cents weaker at 4.88-4.89.
In northern and western Illinois, cash corn bids to producers at country
elevators were 27 to 32 cents lower at 4.34-4.65, with central Illinois
locations 43 to 46 cents lower at 4.41-4.59 and in southern Illinois bids were
27 to 32 cents lower ranging from 4.38-4.50. Cash soybean bids in northern and
western locations were down .73 to 1.15 at 13.09-13.39, with central Illinois
bids down 1.22 to 1.31 at 13.48-13.65 and southern Illinois bids dropped 1.01 to
1.21 at 13.17-13.40. Cash wheat bids for Soft Red Winter wheat in southern
Illinois gained 3 to 15 cents ranging from 6.04-6.36.
___
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 |
4.55 - 4.75 |
12.85 - 13.00 |
|
|
WESTERN |
4.26 - 4.41 |
12.90 - 13.15 |
|
|
N. CENT. |
4.33 - 4.56 |
12.95 - 13.34 |
|
|
S. CENTRAL |
4.38 - 4.51 |
13.32 - 13.40 |
|
|
WABASH |
4.36 - 4.51 |
12.92 - 13.10 |
6.03 - 6.14 |
|
W.S. WEST |
4.30 - 4.47 |
13.08 - 13.27 |
6.04 - 6.20 |
|
L. EGYPT |
4.26 - 4.35 |
12.91 - 13.00 |
5.94 - 6.03 |
Central Illinois average price
Corn: 4.44 1/2
(+ 6 1/2 Z)
Soybeans:
13.17 1/2 (+ 2 X)
CONTRACT BIDS FOR JANUARY 2014 DELIVERY
|
AREA |
US 2
CORN |
US 1
SOYBEANS |
***US
2
SOFT
WHEAT |
|
NORTHERN |
4.36 - 4.53 |
12.86 - 13.02 |
|
|
WESTERN |
4.26 - 4.35 |
13.00 - 13.14 |
|
|
N. CENT. |
4.35 - 4.46 |
12.93 - 13.12 |
|
|
S. CENTRAL |
4.36 - 4.50 |
13.14 - 13.23 |
|
|
WABASH |
4.40 - 4.49 |
13.13 - 13.23 |
|
|
W.S. WEST |
4.41 - 4.55 |
13.19 - 13.36 |
|
|
L. EGYPT |
4.43 - 4.53 |
13.13 - 13.23 |
|
***June/July 2013 delivery
Cent. Ill. Average Price at Country
Elevators
|
Week of |
9/19/2013 |
9/12/2013 |
| |
Price--Basis |
Price--Basis |
|
Corn |
4.50
-9 1/2Z |
4.94
1/2 +28Z |
|
Soybeans |
13.56 1/2 +17X |
14.83 +87X 1 |
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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