Grain Prices @ Illinois Interior Country Elevators
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GX_GR113
Springfield, IL Fri Mar 15, 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
slightly higher and wheat and soybeans lower. Soybean futures moved lower
pressured by lower than expected crush figures from February.
In Northern and Western Illinois country grain dealers quoted shelled corn
bids were mostly steady at 7.27-7.49. Soybean bids were 9 cents lower at
14.18-14.31.
In Central Illinois country grain dealers quoted shelled corn bids were
steady to 2 cents lower at 7.25-7.42. Soybean bids were 9 to 11 cents lower
at 14.38-14.52.
In the Southern part of the state, shelled corn bids were mostly steady to
2 cents higher at 7.11-7.52. Soybean bids were mostly 10 cents to 12 cents
lower at 14.24-14.64. Wheat bids were 2 cents lower at 7.18-7.38.
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 7.36 - 7.49 14.19 - 14.29 -----------
WESTERN 7.27 - 7.35 14.18 - 14.31 -----------
N. CENTRAL 7.25 - 7.37 14.38 - 14.52 -----------
S. CENTRAL 7.28 - 7.42 14.38 - 14.47 -----------
WABASH 7.36 - 7.52 14.49 - 14.56 7.18 - 7.33
W.S. WEST 7.11 - 7.37 14.24 - 14.37 7.18 - 7.34
L. EGYPT 7.45 - 7.52 14.56 - 14.64 7.28 - 7.38
Central Illinois average price Corn 7.33 1/2 (+16 1/2K)
Soybeans 14.45 (+19 K)
CONTRACT BIDS FOR NEW CROP 2013 DELIVERY
AREA CORN SOYBEANS ***SOFT WHEAT***
NORTHERN 5.28 - 5.41 12.19 - 12.29 -----------
WESTERN 5.24 - 5.36 12.21 - 12.31 -----------
N. CENTRAL 5.27 - 5.42 12.20 - 12.31 -----------
S. CENTRAL 5.27 - 5.44 12.28 - 12.36 -----------
WABASH 5.34 - 5.46 12.31 - 12.37 6.90 - 7.01
W.S. WEST 5.36 - 5.43 12.33 - 12.47 6.97 - 7.16
L. EGYPT 5.37 - 5.47 12.31 - 12.44 6.89 - 7.01
***June/July 2013 delivery
Illinois grains ended mixed with corn and wheat higher and soybeans lower. An increase in export
interest and demand helped to pull wheat futures higher this week. The strength in wheat also
helped to pull corn futures higher. Weekly export inspections of 27.85 million bushels and weekly
export sales of 1.087 million tonnes were both higher than expected figures to help build a positive
tone for wheat. On the other hand, export demand fell for soybeans, as traders believed South
American soybeans would finally begin to switch the demand from the US to them.
The trading in the cash grain market had another slow week. The processor basis ended mixed, but
the river basis ended sharply lower. Corn and soybean processors continue to pull enough grain
from farmers to keep things going, with basis remaining firm. A late week drop in gulf basis left the
river terminals sharply lower for both corn and soybeans. However, basis for new crop wheat along
the Illinois River made significant gains for the week. It seems like only yesterday river terminal
managers were fighting to move grain down the river system due to low water levels. Who would
believe areas in the northern regions of Illinois would be talking about flooding? Many are happier for
the river system to return to a somewhat normal routine. The Central Illinois Soybean Processors
cash bids were 31 to 48 cents lower ranging from 14.70-14.90, with basis mixed ranging from +35K
to +55K. The Central Illinois Corn Processors cash bids were 22 to 25 cents higher ranging from
7.46-7.56, with basis steady to 3 cents lower at +30K to +40K. At the Illinois River terminals south of
Peoria, cash corn bids ended 18 cents higher ranging from 7.32-7.36, with basis down 7 cents to
+16K to +20K. Cash soybean bids fell 46 to 50 cents to 14.52-14.57, with basis down 8 to 12 cents
ranging from +17K to +22K. New crop wheat bids for delivery in July 2013 ended 31cents higher
ranging from 7.10-7.16, with basis up 10 cents at -10N to -4N. At the Illinois River terminals north of
Peoria, cash corn bids were up 15 to 22 cents at 7.33-7.36, with basis down 3 to 10 cents to range
from +17K to +20K. Cash soybean bids were down 53 cents at 14.45-14.50, with basis 15 cents
weaker ranging from +10K to +15K. New crop wheat bids for July 2013 delivery gained 26 to 31
cents to range from 7.10-7.18, with basis 5 to 10 cents higher at -10N to -2N. At the St. Louis
terminals cash corn bids closed 20 to 21 cents higher ranging from 7.41-7.45, with soybeans down
45 to 53 cents ranging from 14.62-14.73. Cash bids for Soft Red Winter wheat were up 30 cents to
7.51-7.52 and cash sorghum bids gained 25 cents to 7.15-7.16.
In northern and western Illinois, cash corn bids to producers at country elevators were up 26 cents to
7.27-7.49, with central Illinois locations gaining 23 to 26 cents at 7.27-7.42 and in southern Illinois
bids were 19 to 25 cents higher ranging from 7.07-7.52. Cash soybean bids in northern and western
locations were down 36 to 47 cents at 14.27-14.40, with central Illinois bids 35 to 38 cents lower at
14.47-14.61 and southern Illinois bids lost 38 to 46 cents at 14.42-14.74. Cash wheat bids for Soft
Red Winter wheat in southern Illinois locations increased 31 to 32 cents to 7.20-7.40. New crop
wheat bids for June-July delivery in southern Illinois were up 30 to 34 cents ranging from 6.88-7.14.
Central Illinois Average Price at Country Elevators
3/14/2013 3/7/2013 February 2013 March 2012
Price Basis Price Basis Price Basis Price Basis
Corn 7.34 1/2 +18K 7.10 +19K 7.15 +7 1/2H 6.46 - 1 1/2K
Soybeans 14.54 +18 1/2K 14.90 1/2 +17K 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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