Grain Prices @ Illinois Interior Country Elevators
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GX_GR113
Springfield, IL Fri Mar 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 mixed on Friday afternoon, with corn and
wheat higher and soybeans mostly lower. Corn futures gained strength after the
release of the USDA's new Supply Demand report.
In Northern and Western Illinois country grain dealers quoted shelled corn
bids were mostly 9 to 14 cents higher at 7.09-7.23. Soybean bids were mixed at
14.69-14.83.
In Central Illinois country grain dealers quoted shelled corn bids were 9 to
13 cents higher at 7.17-7.27. Soybean bids were 2 to 3 cents lower at 14.83-
14.93.
In the Southern part of the state, shelled corn bids were 12 to 13 cents
higher at 7.00-7.40. Soybean bids were mixed at 14.92-15.09. Wheat bids were 1
to 3 cents higher at 6.89-7.12.
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 7.09 - 7.23 14.69 - 14.76 -----------
WESTERN 7.13 - 7.18 14.71 - 14.83 -----------
N. CENTRAL 7.17 - 7.22 14.88 - 14.93 -----------
S. CENTRAL 7.17 - 7.27 14.83 - 14.92 -----------
WABASH 7.25 - 7.39 14.95 - 15.01 6.89 - 7.07
W.S. WEST 7.00 - 7.22 14.92 - 15.01 6.93 - 7.08
L. EGYPT 7.32 - 7.40 15.01 - 15.09 7.02 - 7.12
Central Illinois average price Corn 7.22 (+18 1/2K)
Soybeans 14.88 (+17 K)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
AREA CORN SOYBEANS ***SOFT WHEAT***
NORTHERN 5.07 - 5.23 12.28 - 12.40 -----------
WESTERN 5.09 - 5.21 12.29 - 12.38 -----------
N. CENTRAL 5.11 - 5.22 12.28 - 12.39 -----------
S. CENTRAL 5.17 - 5.27 12.42 - 12.49 -----------
WABASH 5.19 - 5.32 12.39 - 12.44 6.69 - 6.79
W.S. WEST 5.12 - 5.27 12.41 - 12.54 6.81 - 6.83
L. EGYPT 5.22 - 5.32 12.39 - 12.49 6.67 - 6.79
***June/July 2013 delivery
Illinois grains ended mixed with soybeans higher and wheat and corn lower. Soybean futures
drew strength from export sales and good export interest. China was a buyer of US soybeans this
week, of both old and new crop. With shipping delays of over 50 days from Brazilian ports, some
buyers are still coming to the US for their soybean and soybean meal needs. These numbers
helped to lift soybean values this week. Export inspection numbers for soybeans totaled 40.3 million
bushels, with weekly export sales figures of 1.382 million tonnes. Of the 1.382 million tonnes,
392,000 tonnes were for old crop and 990,600 tonnes were sold for the new crop year. The slow
export market weighed on wheat futures. While the US might be competitively priced in the world
market, buyers are slow to write contracts for US wheat. Corn futures are also weakened by the
slow export trade, but strong domestic usage continues to keep old crop prices firm.
The trading in the cash grain market was slow. Lower cash values for corn slowed movement to the
terminals and processors. Many grain merchandisers have moved their cash basis month from the
March (H) to the May (K) futures month, so that will hurt measurement of basis this week at some
locations. However, basis did firm up along the Illinois River points on Thursday for both cash corn
and soybeans. The Central Illinois Soybean Processors cash bids were 21 to 26 cents higher
ranging from 15.18-15.21, with basis ranging from +45K to +48K. The Central Illinois Corn
Processors cash bids were 4 to 12 cents lower ranging from 7.24-7.31, with basis steady to 8 cents
higher at +33K to +40K. At the Illinois River terminals south of Peoria, cash corn bids ended 12 to
18 cents lower ranging from 7.14-7.18, with basis at +23K to +27K. Cash soybean bids gained 17 to
20 cents to 15.02-15.03, with basis ranging from +29K to +30K. New crop wheat bids for delivery in
July 2013 ended 12 to 16 cents lower ranging from 6.79-6.85, with basis up 1 to 5 cents at -20N to -
14N. At the Illinois River terminals north of Peoria, cash corn bids were down 5 to 12 cents at 7.11-
7.21, with basis at +20K to +30K. Cash soybean bids were up 17 to 22 cents at 14.99-15.03, with
basis ranging from +251/2 K to +30K. New crop wheat bids for July 2013 delivery fell 14 to 16 cents
to range from 6.84-6.87, with basis 1 to 3 cents higher at -15N to -12N. At the St. Louis terminals
cash corn bids closed 5 to 8 cents lower ranging from 7.20-7.25, with soybeans up 6 to 21 cents
ranging from 15.15-15.18. Cash bids for Soft Red Winter wheat were down 17 cents to 7.21-7.22
and cash sorghum bids fell 34 cents to 6.90-6.91.
In northern and western Illinois, cash corn bids to producers at country elevators were mixed at
7.01-7.23, with central Illinois locations down 11 to 12 cents at 7.04-7.16 and in southern Illinois bids
were 13 to 20 cents lower ranging from 6.88-7.27. Cash soybean bids in northern and western
locations were up 17 to 28 cents at 14.63-14.87, with central Illinois bids 17 to 21 cents higher at
14.85-14.96 and southern Illinois bids gained 17 to 18 cents at 14.88-15.12. Cash wheat bids for
Soft Red Winter wheat in southern Illinois locations lost 14 cents to 6.88-7.09. New crop wheat bids
for June-July delivery in southern Illinois were down 15 to 30 cents ranging from 6.54-6.84.
Central Illinois Average Price at Country Elevators
3/7/2013 2/28/2013 February 2013 March 2012
Price Basis Price Basis Price Basis Price Basis
Corn 7.10 +19K 7.21 1/2 +2H 7.15 +7 1/2H 6.46 - 1 1/2K
Soybeans 14.90 1/2 +17K 14.71 1/2 -3H 14.67 +11H 13.33 -19 1/2K
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
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