Grain Prices @ Illinois Interior Country Elevators
Springfield, IL Fri Nov 2, 2012 USDA-IL Dept of Ag Market News
Illinois Grain Prices in Country Elevators
This is Friday's report of the grain prices and trends prepared by the
USDA and the Illinois Department of Agriculture.
Illinois country grain prices were lower on Friday afternoon. Fund selling at
the Board of Trade helped to push grain futures lower. The stronger US dollar
also helped to weaken prices.
In Northern and Western Illinois country grain dealers quoted shelled corn
bids 11 to 12 cents lower at 7.17-7.35. Soybean bids were 34 to 37 cents
lower at 14.90-15.06.
In Central Illinois country grain dealers quoted shelled corn bids were
12 to 16 cents lower at 7.29-7.46. Soybean bids were 33 to 38 cents lower
In the Southern part of the state, shelled corn bids were mostly 9 to 11
cents lower at 7.18-7.60. Soybean bids were 28 to 33 cents lower at
15.05-15.24. Wheat bids were mostly 4 cents lower at 8.44-8.58.
Commercial grain prices paid farmers by Interior Illinois Country
Elevators after 2.00 p.m. today are listed below in dollars per bushel:
AREA US 2 CORN US 1 SOYBEANS US 2 SOFT WHEAT
NORTHERN 7.25 - 7.35 14.90 - 15.06 -----------
WESTERN 7.17 - 7.26 14.93 - 15.06 -----------
N. CENTRAL 7.29 - 7.44 15.13 - 15.22 -----------
S. CENTRAL 7.40 - 7.46 15.09 - 15.19 -----------
WABASH 7.48 - 7.60 15.14 - 15.17 8.50 - 8.55
W.S. WEST 7.18 - 7.28 15.05 - 15.23 8.50 - 8.58
L. EGYPT 7.48 - 7.50 15.22 - 15.24 8.44 - 8.50
Central Illinois average price Corn 7.37 1/2 (- 2 Z)
Soybeans 15.15 1/2 (-11 X)
CONTRACT BIDS FOR JANUARY 2013 DELIVERY
AREA CORN SOYBEANS ***SOFT WHEAT***
NORTHERN 7.32 - 7.46 14.88 - 15.09 -----------
WESTERN 7.22 - 7.32 15.07 - 15.17 -----------
N. CENTRAL 7.29 - 7.35 15.13 - 15.22 -----------
S. CENTRAL 7.41 - 7.59 15.26 - 15.35 -----------
WABASH 7.50 - 7.58 15.15 - 15.25 8.35 - 8.45
W.S. WEST 7.27 - 7.33 15.29 - 15.40 8.19 - 8.35
L. EGYPT 7.63 - 7.71 15.27 - 15.35 8.40 - 8.45
***June/July 2013 delivery
Illinois grains-Grain futures ended mixed at the Chicago Board of Trade, with corn higher and
wheat and soybeans moving lower. The outside markets were the major influences early this
week, as Hurricane Sandy closed financial markets in New York on Monday and Tuesday. The
normal release of the USDA's reports was delayed as well due to many offices in Washington
being closed. Any other fundamental news items for the grain market were few and far
between. The next major type grain report will be released by the USDA on November 9th ,
and that will be the monthly Crop Production numbers and updated Supply Demand forecasts.
Some private forecasts were released this week to give the public their ideas on the size of the
2012 crops. Export interest continues to be moderate to good for US soybeans, with demand
for US corn light to moderate at best. Prices for US corn continue to be higher than most
countries, with the South American corn price being more competitive.
The fall soybean harvest made good progress last week, with drier weather this week farmers
should have again made good progress to close the 2012 harvest. Many producers, especially
in central Illinois were busy with fall fertilizer application, with some starting to apply anhydrous
ammonia. According to the USDA's Illinois Weather and Crops report, from the Illinois Field
Office in Springfield, the Illinois corn harvest had reached 94% complete, compared to 92%
last week and 69% for the five year average. The soybean crop was 87% harvested in the
state of Illinois, compared to 80% last week and 80% for the five year average. Wheat planting
was 81% done, compared to 69% last week and 79% for the five year average. There was
49% of the crop emerged, compared to 57% last year and 53% for the five year average.
Pastures conditions were rated at 21% very poor to poor, with 30% fair and 49% in good to
The trading in the cash grain market was moderate. Cash basis was mixed for the week, but
the river terminals did recover their losses from last week to end higher. Barge freight rates
weakened to become more reasonable for the river terminal managers to use. The Central
Illinois Soybean Processors cash bids ended mixed at 15.67-15.76, with basis steady to 7
cents higher at +9X to +18X. The Central Illinois Corn Processors cash bids were up 4 to 9
cents ranging from 7.51-7.61, with basis steady to 5 cents lower ranging from option Z to
+10Z. At the Illinois River terminals south of Peoria, cash corn bids ended 16 cents higher
ranging from 7.38-7.43, with basis up 7 cents at -13Z to -8Z. Cash soybean bids gained 11 to
16 cents at 15.60-15.65, with basis gaining 17 to 22 cents ranging from +2X to +7X. New crop
wheat bids for delivery in July 2013 ended 10 to 14 cents higher ranging from 8.42-8.47, with
basis steady to 4 cents higher at -35N to -30N. At the Illinois River terminals north of Peoria,
cash corn bids gained 9 to 11 cents to 7.33-7.36, with basis steady to 2 cents higher at -18Z to
-15Z. Cash soybean bids were up 2 to 8 cents to 15.49-15.53, with basis 6 to 13 cents
stronger ranging from -91/2 X to -5X. New crop wheat bids for July 2013 delivery gained 10
cents to range from 8.50-8.52, with basis steady at -27N to -25N. At the St. Louis terminals
cash corn bids were up 4 to 9 cents at 7.21-7.27, with soybeans up 3 to 9 cents ranging from
15.52-15.64. Cash bids for Soft Red Winter wheat gained 1 cent to 8.53-8.54 and cash
sorghum bids were 2 cents lower to range from 7.10-7.11.
In northern and western Illinois, cash corn bids to producers at country elevators were 10 cents
higher at 7.29-7.46, with central Illinois locations up 9 to 14 cents at 7.45-7.58 and in southern
Illinois bids gained 7 to 13 cents to range from 7.27-7.61. Cash soybean bids in northern and
western locations were steady to 4 cents lower at 15.27-15.40 with central Illinois bids mixed at
15.42-15.64 and southern Illinois bids were steady to 3 cents stronger at 15.33-15.57. Cash
wheat bids for Soft Red Winter wheat in southern Illinois locations dropped 4 cents to 8.36-
8.59. New crop wheat bids for June-July delivery in southern Illinois advanced 4 to 10 cents to
range from 8.21-8.47.
Central Illinois Average Price at Country Elevators
11/1/2012 10/25/2012 October 2012 October 2011
Price Basis Price Basis Price Basis Price Basis
Corn 7.51 1/2 + 1/2 Z 7.40 - 2Z 7.48 - 2Z 6.23 - 9Z
Soybeans 15.53 -5 1/2 X 15.52 -12X 15.27 -12X 11.87 -27X
Source: USDA-IL Dept of Ag Market News, Springfield, IL
Phone: 217-782-4925 In state only toll free 888-458-4787
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