Grain Prices @ Illinois Interior Country Elevators

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Springfield, IL    Fri Feb 08 2013    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 mostly lower on Friday afternoon, with soybean
values sharply lower. The sharply lower soybean futures weighed on wheat and corn
values. Higher than expected World soybean stocks and Brazilian soybean production
estimates weakened soybean prices.

In Northern and Western Illinois country grain dealers quoted shelled corn 
bids were mixed at 6.96-7.09. Soybean bids were 34 to 38 cents lower at 
In Central Illinois country grain dealers quoted shelled corn bids were 
1 to 2 cents lower at 7.11-7.27. Soybean bids were 31 to 35 cents lower at 

In the Southern part of the state, shelled corn bids were 2 cents lower at 
7.04-7.34. Soybean bids were 30 to 34 cents lower at 14.61-14.79. Wheat bids 
were mostly steady at 7.51-7.71.

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

NORTHERN    6.96 - 7.07   14.35 - 14.44    -----------       
WESTERN     7.02 - 7.09   14.39 - 14.52    -----------       
N. CENTRAL  7.11 - 7.18   14.56 - 14.67    -----------       
S. CENTRAL  7.14 - 7.27   14.56 - 14.67    -----------       
WABASH      7.16 - 7.26   14.65 - 14.73    7.51 - 7.64     
W.S. WEST   7.04 - 7.17   14.61 - 14.69    7.76 - 7.71    
L. EGYPT    7.24 - 7.34   14.72 - 14.79    7.61 - 7.71     

Central Illinois average price   Corn        7.19       (+10       H)
                                 Soybeans   14.61 1/2   (+ 9       H)


 AREA          CORN          SOYBEANS   ***SOFT WHEAT*** 
NORTHERN    5.23 - 5.37   12.40 - 12.59   -----------    
WESTERN     5.23 - 5.35   12.34 - 12.50   -----------    
N. CENTRAL  5.24 - 5.39   12.41 - 12.52   -----------    
S. CENTRAL  5.28 - 5.43   12.49 - 12.59   -----------    
WABASH      5.35 - 5.53   12.49 - 12.57   7.31 - 7.35                       
W.S. WEST   5.30 - 5.38   12.58 - 12.68   7.27 - 7.32  
L. EGYPT    5.38 - 5.48   12.43 - 12.62   7.31 - 7.40 
***June/July 2013 delivery

Illinois grains ended mixed with soybeans higher and corn and wheat lower.  Soybean futures 
were supported by the continued good export demand, especially from China, and strong 
soybean meal values.  Traders also paid attention to the South American weather forecast. 
The slow export market weighed on both corn and wheat values.  Some beneficial rainfall in 
the Hard Red wheat growing regions also helped to push prices lower. The release of the 
USDA's updated Supply Demand report on Friday kept some traders on the sidelines waiting 
for new news to move market values.

The trading in the cash grain market was slow to moderate. Basis levels were mixed this week, 
but were definitely stronger along the Illinois River terminals south of Peoria for both cash corn 
and soybeans.  The improvements in basis were definitely made to improve the flow of grain to 
the terminals. The Central Illinois Soybean Processors cash bids were 19 to 20 cents higher 
ranging from 15.13-15.27, with basis steady to 1 cent higher at +26H to +40H. The Central 
Illinois Corn Processors cash bids were down 23 to 34 cents ranging from 7.21-7.44, with 
basis mixed ranging from +10H to +33H. At the Illinois River terminals south of Peoria, cash 
corn bids ended 20 to 22 cents lower ranging from 7.18-7.25, with basis up 7 to 9 cents at +7H 
to +14H. Cash soybean bids gained 26 to 28 cents to 15.10-15.18, with basis gaining 7 to 9 
cents ranging from +23H to +31H. New crop wheat bids for delivery in July 2013 ended 26 to 
30 cents lower ranging from 7.42-7.53, with basis steady to 4 cent higher at -21N to -10N. At 
the Illinois River terminals north of Peoria, cash corn bids were down 25 to 28 cents at 7.17-
7.18, with basis 1 to 4 cents higher at +6H to +7H. Cash soybean bids were up 14 to 18 cents 
at 15.08-15.14, with basis 1 to 5 cents lower ranging from +21H to +27H. New crop wheat bids 
for July 2013 delivery fell 28 to 30 cents to range from 7.37-7.44, with basis steady to 2 cents 
higher at -26N to -19N. At the St. Louis terminals cash corn bids were 28 to 29 cents lower at 
7.20-7.21, with soybeans gaining 18 to 27 cents ranging from 15.18-15.29. Cash bids for Soft 
Red Winter wheat fell 9 cents to 7.95-7.96 and cash sorghum bids were down 25 cents to 
range from 7.10-7.11.  

In northern and western Illinois, cash corn bids to producers at country elevators lost 30 to 39 
cents at 6.98-7.08, with central Illinois locations down 27 to 28 cents at 7.12-7.29 and in 
southern Illinois bids were 23 to 30 cents lower ranging from 7.06-7.36. Cash soybean bids in 
northern and western locations were up 23 to 25 cents at 14.73-14.86 with central Illinois bids 
12 to 13 cents higher at 14.87-15.02 and southern Illinois bids were up 12 to 14 cents at 14.91-
15.13. Cash wheat bids for Soft Red Winter wheat in southern Illinois locations lost 13 to 21 
cents to 7.51-7.77. New crop wheat bids for June-July delivery in southern Illinois were 13 to 
34 cents lower to range from 7.30-7.41.

Central Illinois Average Price at Country Elevators

             2/7/2013          1/31/2013      January  2013  February 2012            
           Price    Basis   Price   Basis      Price  Basis  Price   Basis          
Corn      7.20 1/2   +10H    7.48   + 7 1/2H    7.17  + 2H    6.41   + 1/2H
Soybeans 14.94 1/2   + 8H   14.82   +13 1/2H   14.30  +11H   12.40   +15H

Source: USDA-IL Dept of Ag Market News, Springfield, IL
        Phone:  217-782-4925   In state only toll free 888-458-4787

1544cst jm/gw

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