Grain Prices @ Illinois Interior Country Elevators
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GX_GR113
Springfield, IL Fri Nov 16, 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, with corn higher and wheat
and soybeans lower. Corn values were supported by a more positive outlook for the
ethanol industry. Beneficial rains on the newly planted Brazilian soybean crop
was a primary cause for the sell-off.
In Northern and Western Illinois country grain dealers quoted shelled
corn bids 5 to 7 cents higher at 7.06-7.21. Soybean bids were 19 to 22
cents lower at 13.48-13.69.
In Central Illinois country grain dealers quoted shelled corn bids were 5
to 7 cents higher at 7.19-7.33. Soybean bids were 19 to 24 cents lower at
13.64-13.78.
In the Southern part of the state, shelled corn bids were mostly 5 to 7 cents
higher at 7.07-7.43. Soybean bids were 19 to 25 cents lower at 13.65-13.98.
Wheat bids were 5 to 8 cents lower at 8.18-8.33.
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 7.10 - 7.21 13.48 - 13.60 -----------
WESTERN 7.06 - 7.20 13.60 - 13.69 -----------
N. CENTRAL 7.19 - 7.30 13.64 - 13.76 -----------
S. CENTRAL 7.22 - 7.33 13.65 - 13.78 -----------
WABASH 7.29 - 7.43 13.70 - 13.90 8.23 - 8.33
W.S. WEST 7.07 - 7.17 13.82 - 13.95 8.31 - 8.32
L. EGYPT 7.35 - 7.43 13.65 - 13.98 8.18 - 8.23
Central Illinois average price Corn 7.26 (- 1 Z)
Soybeans 13.71 (-12 F)
CONTRACT BIDS FOR JANUARY 2013 DELIVERY
AREA CORN SOYBEANS ***SOFT WHEAT***
NORTHERN 7.26 - 7.42 13.50 - 13.63 -----------
WESTERN 7.14 - 7.28 13.65 - 13.68 -----------
N. CENTRAL 7.26 - 7.36 13.71 - 13.83 -----------
S. CENTRAL 7.33 - 7.45 13.76 - 13.86 -----------
WABASH 7.39 - 7.53 13.79 - 13.90 8.06 - 8.16
W.S. WEST 7.12 - 7.23 13.79 - 13.90 8.00 - 8.06
L. EGYPT 7.47 - 7.56 13.73 - 13.88 8.05 - 8.14
***June/July 2013 delivery
Illinois grains and soybean bids closed moderate to sharply lower. The grains opened Monday
in a negative tone following a bearish USDA report last Friday. Additional pressure for corn
and soybeans came from favorable weather in South America, along with economy worries
and uncertainties compelling the markets. The stock market was lower with crude oil having
sharp losses and precious metals also lower. Chicago December corn futures trended 20
cents lower at 7.21. January soybean futures closed .94 cents lower at 14.02. Soybean
futures were sharply lower for the week in response early in the week from the bearish USDA
Supply and Demand Reports. However, some positive news from overnight export
announcement and bullish NOPA crush numbers limit the losses for soybeans. NOPA crush
came in well above estimates at 153.54 million bushels as compared to 119.73 in September.
Wheat also saw some support from lower winter wheat crop ratings which came in at 36
percent good to excellent, down 3 percent from last week. Wheat was 45-50 cents lower.
Corn was mostly 16-22 cents lower. Cash basis at Illinois River terminals started the week
higher, but ended lower on concerns of river closures or reduced traffic on the Mississippi
River south of St Louis. Lower water levels from the drought are blamed for the closure.
The trading in the cash grain market was slow. The Central Illinois Soybean Processors cash
bids dropped 91 to 93 cents to 14.17 to 14.22, with basis 1 to 3 cents higher at +14F to +17F.
The Central Illinois Corn Processors cash bids were down 20 cents ranging from 7.21-7.31,
with basis steady ranging from option Z to +10Z. At the Illinois River terminals south of Peoria,
cash corn bids ended 3 to 5 cents lower ranging from 7.22-7.31, with basis 15 to 20 cents
higher at 1Z to 10Z. Cash soybean bids lost 88 to 91 cents at 14.05-14.14, with basis 3 to 6
cents higher ranging from 3F to 12F. New crop wheat bids for delivery in July 2013 ended 40
to 41 cents lower ranging from 8.23-8.24, with basis steady to 1 cents higher at -31N to -30N.
At the Illinois River terminals north of Peoria, cash corn bids fell 8 to 9 cents to 7.09-7.23, with
basis 2 to 13 cents higher at -12Z to 2Z. Cash soybean bids were down 96 to 97 cents to
13.97-14.02, with basis 2 to 3 cents lower ranging from -5F to Opt F. New crop wheat bids for
July 2013 delivery lost 41 cents to range from 8.28-8.30, with basis steady at -27N to -25N. At
the St. Louis terminals cash corn bids were steady to 34 cents lower at 6.92-7.42, with
soybeans down 84 cents ranging from 14.26-14.27. Cash bids for Soft Red Winter wheat lost
50 cents to 8.40-8.41 and cash sorghum bids were 9 cents lower to range from 6.81-6.82.
In northern and western Illinois, cash corn bids to producers at country elevators were 18 to 23
cents lower at 7.00-7.15, with central Illinois locations down 18 to 21 cents at 7.13-7.27 and in
southern Illinois bids were steady to 18 cents lower to range from 7.05-7.37. Cash soybean
bids in northern and western locations were 90 to 93 cents lower at 13.70-13.88 with central
Illinois bids down 94 cents at 13.84-13.97 and southern Illinois bids fell 82 to 89 cents to range
from 13.87-14.17. Cash wheat bids for Soft Red Winter wheat in southern Illinois locations lost
60 to 62 cents to 8.25-8.41. New crop wheat bids for June-July delivery in southern Illinois lost
39 to 41 cents to range from 8.00-8.25.
Central Illinois Average Price at Country Elevators
11/15/2012 11/8/2012 October 2012 October 2011
Price Basis Price Basis Price Basis Price Basis
Corn 7.20 - 1Z 7.39 1/2 + 2 1/2Z 7.48 - 2Z 6.23 - 9Z
Soybeans 13.90 1/2 -11F 14.84 1/2 -11 X 15.27 -12X 11.87 -27X
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 km/jm/gw
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