Grain Prices @ Illinois Interior Country Elevators

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GX_GR113
Springfield, IL    Fri Feb 15 2013    USDA-IL Dept of Ag Market News

***THIS REPORT WILL NOT BE ISSUED MONDAY FEBRUARY 18 IN OBSERVANCE OF THE HOLIDAY***

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 higher on Friday afternoon. Wheat futures 
moved up supported by export sales and export interest. Soybean futures gained
strength from technical buying at the Board of Trade, as traders took profit
ahead of the holiday weekend.

In Northern and Western Illinois country grain dealers quoted shelled corn 
bids were 3 to 4 cents higher at 6.91-7.06. Soybean bids were 6 cents higher at
14.04-14.16.
 
In Central Illinois country grain dealers quoted shelled corn bids were 1 to 
4 cents higher at 6.95-7.17. Soybean bids were 6 cents higher at 14.28-14.39.

In the Southern part of the state, shelled corn bids were 4 to 5 cents higher 
at 6.94-7.24. Soybean bids were 7 cents higher at 14.30-14.51. Wheat bids were 
9 to 10 cents higher at 7.37-7.57.

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    6.94 - 7.06   14.07 - 14.16    -----------       
WESTERN     6.91 - 7.00   14.04 - 14.15    -----------       
N. CENTRAL  6.95 - 7.08   14.31 - 14.39    -----------       
S. CENTRAL  7.08 - 7.17   14.28 - 14.37    -----------       
WABASH      7.10 - 7.24   14.37 - 14.45    7.37 - 7.50     
W.S. WEST   6.94 - 7.08   14.30 - 14.40    7.42 - 7.54    
L. EGYPT    7.14 - 7.24   14.44 - 14.51    7.47 - 7.57     

Central Illinois average price   Corn        7.06       (+ 7       H)
                                 Soybeans   14.33 1/2   (+ 9       H)

                 CONTRACT BIDS FOR NEW CROP 2013 DELIVERY

 AREA          CORN          SOYBEANS   ***SOFT WHEAT*** 
NORTHERN    5.22 - 5.40   12.20 - 12.39   -----------    
WESTERN     5.23 - 5.38   12.17 - 12.30   -----------    
N. CENTRAL  5.24 - 5.38   12.21 - 12.32   -----------    
S. CENTRAL  5.26 - 5.46   12.27 - 12.39   -----------    
WABASH      5.33 - 5.43   12.29 - 12.45   7.19 - 7.23                       
W.S. WEST   5.23 - 5.33   12.34 - 12.48   7.07 - 7.20  
L. EGYPT    5.38 - 5.48   12.37 - 12.48   7.09 - 7.19 
***June/July 2013 delivery

Illinois grains ended lower with soybeans sharply lower.  This was another week with little new 
fundamental news to trade on.  Soybeans had carryover weakness from the USDA's Supply 
Demand report.  Soybean futures were also weakened by sharply lower soybean meal futures and 
technical and fund selling at the Board of Trade.  Beneficial rainfall for the Plain states was good 
for their soil conditions, but helped to push wheat futures lower.

The trading in the cash grain market was slow to moderate. With several processors and terminals 
having a decent week of grain movement with futures prices moving sharply lower.  The cash corn 
basis stayed strong and moved higher throughout the week.  The soybean basis remained steady 
at the processors, but moved lower at the river terminals due to lower export demand. The Central 
Illinois Soybean Processors cash bids were 69 cents lower ranging from 14.44-14.58, with basis 
steady at +26H to +40H. The Central Illinois Corn Processors cash bids were down 11 to 14 cents 
ranging from 7.10-7.30, with basis moving 2 to 5 cents higher ranging from +15H to +35H. At the 
Illinois River terminals south of Peoria, cash corn bids ended 10 to 13 cents lower ranging from 
7.08-7.12, with basis up 3 to 6 cents at +13H to +17H. Cash soybean bids lost 74 to 76 cents to 
14.36-14.42, with basis down 5 to 7 cents ranging from +18H to +24H. New crop wheat bids for 
delivery in July 2013 ended 18 to 27 cents lower ranging from 7.24-7.26, with basis mixed at -20N 
to -18N. At the Illinois River terminals north of Peoria, cash corn bids were down 10 to 12 cents at 
7.05-7.08, with basis 4 to 6 cents higher at +10H to +13H. Cash soybean bids were down 74 to 77 
cents at 14.34-14.37, with basis 5 to 8 cents lower ranging from +16H to +19H. New crop wheat 
bids for July 2013 delivery fell 18 to 19 cents to range from 7.19-7.25, with basis steady to 1 cent 
higher at -25N to -19N. At the St. Louis terminals cash corn bids were 11 cents lower at 7.09-7.10, 
with soybeans losing 68 to 73 cents ranging from 14.50-14.56. Cash bids for Soft Red Winter 
wheat fell 24 cents to 7.71-7.72 and cash sorghum bids were down 11 cents to range from 6.99-
7.00.  

In northern and western Illinois, cash corn bids to producers at country elevators lost 5 to 11 cents 
at 6.87-7.03, with central Illinois locations down 16 to 18 cents at 6.94-7.13 and in southern Illinois 
bids were 16 to 17 cents lower ranging from 6.89-7.20. Cash soybean bids in northern and 
western locations were down 75 to 76 cents at 13.98-14.10 with central Illinois bids 65 to 69 cents 
lower at 14.22-14.33 and southern Illinois bids dropped 69 to 76 cents at 14.23-14.44. Cash wheat 
bids for Soft Red Winter wheat in southern Illinois locations lost 24 to 29 cents to 7.27-7.48. New 
crop wheat bids for June-July delivery in southern Illinois were 25 to 31 cents lower to range from 
6.99-7.26.

Central Illinois Average Price at Country Elevators

              2/14/2013           2/7/2013          January 2013    February 2012            
           Price    Basis      Price     Basis      Price  Basis    Price  Basis          
Corn      7.03 1/2  +9H        7.20 1/2  + 7 1/2H    7.17   + 2H      6.41  + 1/2H
Soybeans 14.27 1/2  +9 1/2H   14.94 1/2  +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
        www.ams.usda.gov/mnreports/GX_GR113.txt

1544cst jm/gw

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