Grain Prices @ Illinois Interior Country Elevators
Springfield, IL Fri Feb 3, 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 mixed on Friday afternoon, with corn
and soybeans higher and wheat lower. Export interest for US soybeans helped
to push soybean futures higher. Strength in soybean meal and soybean oil
also helped to lift prices. In the cash grain market, trading was moderate
to active, with some producers making sales of cash and new crop soybeans.
In Northern and Western Illinois country grain dealers quoted shelled corn
bids steady to 4 cents higher at 6.24-6.34. Soybean bids were mostly 14 to
17 cents higher at 12.04-12.16.
In Central Illinois country grain dealers quoted shelled corn bids were
1 cent higher at 6.35-6.52. Soybean bids were 15 to 16 cents higher at
12.09-12.23.
In the Southern part of the state, shelled corn bids were steady to 4
cents higher at 6.42-6.65. Soybean bids were 13 to 17 cents higher at
12.16-12.36. Wheat bids were mixed at 6.49-6.61.
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 6.24 - 6.29 12.04 - 12.12 -----------
WESTERN 6.26 - 6.34 12.06 - 12.16 -----------
N. CENTRAL 6.35 - 6.44 12.09 - 12.19 -----------
S. CENTRAL 6.44 - 6.52 12.13 - 12.23 -----------
WABASH 6.52 - 6.65 12.16 - 12.25 6.51 - 6.61
W.S. WEST 6.42 - 6.47 12.22 - 12.36 6.55 - 6.59
L. EGYPT 6.59 - 6.65 12.23 - 12.33 6.49 - 6.56
Central Illinois average price Corn 6.43 1/2 (- 1 H)
Soybeans 12.16 (-16 1/2 H)
CONTRACT BIDS FOR NEW CROP 2012 DELIVERY
AREA CORN SOYBEANS ***SOFT WHEAT***
NORTHERN 5.34 - 5.46 11.82 - 11.94 -----------
WESTERN 5.38 - 5.45 11.87 - 11.97 -----------
N. CENTRAL 5.41 - 5.52 11.94 - 12.07 -----------
S. CENTRAL 5.44 - 5.53 11.97 - 12.07 -----------
WABASH 5.51 - 5.62 11.99 - 12.07 6.49 - 6.59
W.S. WEST 5.48 - 5.57 11.97 - 12.06 6.64 - 6.69
L. EGYPT 5.59 - 5.62 11.85 - 11.99 6.54 - 6.64
***June/July 2012 Delivery
Illinois grains- Grain futures ended mixed this week, with corn and wheat
higher and soybeans lower. The size of the South American corn and soybean
crops continues to be in the thoughts of traders. The weather conditions
may have moderated and the damage done, but now estimating the size of the
crop is a huge question to be answered. The USDA will have estimates in
the Production report that will be issued on February 9th. Weather
conditions from the Black Sea regions have started a rally in the wheat
market. Severe cold could be hard on the Russian wheat crop, with
winterkill potential being a concern. Exports have picked up this week,
with the US making some sales of wheat and soybeans, even a sale of
120,000 tonnes of US soybeans to China.
The trading of cash grain in Illinois was slow to moderate. Last week cash
grain sales picked up at mid to late week, but by Friday farmers pretty
well shut the door on the grain bin. By Friday, futures prices had
weakened and basis dropped slightly too. This week, corn and wheat
futures continued to recover, while basis improved in many cases. The
river terminals, commonly feeding the export markets, are being very
competitive with their cash soybean basis. The Central Illinois Soybean
Processors cash bids ended steady to 6 cents lower at 12.17-12.27, with
basis steady to 6 cents higher ranging from option H to +10H. The Central
Illinois Corn Processors cash bids were up 9 to 12 cents with bids ranging
from 6.54-6.68, with basis steady to 3 cents higher at +11H to +25H. At
the Illinois River terminals south of Peoria, cash corn bids ended 9 to 14
cents higher ranging from 6.51-6.53, with basis steady to 5 cents higher
at +8H to +10H. Cash soybean bids increased 5 to 6 cents to 12.26-12.30,
with basis 11 to 12 cents higher ranging from +9H to +13H. New crop corn
bids for October delivery increased 14 to 16 cents to range from 5.52-5.55,
with basis 1 to 3 cents higher at -27Z to -24Z. New crop soybean bids
increased 3 to 12 cents to 12.06-12.07, with basis 1 to 10 cents higher
ranging from -18X to -17X. New crop wheat bids for July 2012 delivery
were up 13 to 14 cents ranging from 6.59-6.74, with basis 1 to 2 cents
higher ranging from -33N to -18N. At the Illinois River terminals north
of Peoria, cash corn bids were 11 to 15 cents higher at 6.47-6.49, with
basis 2 to 6 cents stronger ranging from +4H to +6H. Cash soybean bids
were up 4 to 5 cents at 12.20-12.24, with basis up 10 to 11 cents at
+3 1/2 H to +7H. New crop corn bids for October delivery ended 16 cents
higher at 5.50-5.53, with basis 3 cents higher ranging from -29Z to -26Z.
New crop soybean bids increased 3 to 6 cents to 11.95-12.00, with basis
1 to 4 cents higher at -29X to -231/2 X. New crop wheat bids gained 10
to 11 cents to 6.71-6.72, with basis 1 to 2 cents lower at -21N to -20N.
At the St. Louis terminals cash corn bids were 2 to 3 cents higher at
6.64-6.67, with soybeans mixed ranging from 12.42-12.43. Cash bids for
Soft Red Winter wheat gained 4 cents to 6.78-6.79, with cash sorghum bids
6 cents higher to range from 6.40-6.41.
In northern and western Illinois, cash corn bids to producers at country
elevators were 8 to 9 cents higher at 6.24-6.30, with central Illinois
locations 7 to 9 cents higher at 6.34-6.51 and in southern Illinois bids
were up 5 to 8 cents to range from 6.38-6.65. Cash soybean bids in
northern and western were mixed at 11.85-12.06, with central Illinois bids
dropping 2 to 5 cents to 11.94-12.07 and southern Illinois bids were 2 to
9 cents lower at 12.03-12.19. Cash wheat bids for Soft Red Winter wheat in
southern Illinois locations gained 6 to 13 cents to range from 6.49-6.68.
New crop corn bids to producers at the country elevators in northern and
western Illinois were 13 to 14 cents higher to range from 5.32-5.44, with
central Illinois locations up 12 to 13 cents at 5.38-5.50, and in southern
Illinois bids gained 12 to 13 cents to 5.48-5.59. New crop soybean bids
for October delivery in northern and western Illinois were 1 to 5 cents
higher at 11.72-11.84, with central Illinois locations up 2 cents to
11.81-11.94, and in southern Illinois bids were 2 cents higher at
11.72-11.94. New crop wheat bids for July 2012 delivery in southern
Illinois ended 7 to 12 cents stronger at 6.57-6.72.
Central Illinois Average Price at Country Elevators
2/2/2012 1/26/2012
Price Basis Price Basis
Corn 6.42 1/2 - 1/2 H 6.34 1/2 opt H
Soybeans 12.00 1/2 -16 1/2H 12.04 -19H
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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