Illinois Grain Prices at Country Elevator

SPRINGFIELD - Aug 20/10 - SNS -- Corn, soybean, wheat and sorghum bids compiled by the USDA and Illinois Department of Agriculture.

Illinois Grain Prices at 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
higher and soybeans and wheat lower. Soybean values were pressurd by the
expectations for beneficial rainfall this weekend for the cornbelt. Weak
soybean oil value also helped to push prices lower. Corn futures moved up
on good export demand. The USDA announced two sales of US corn today. One
sale for 212,000 tonnes to an unknown destination and the other sale of
120,000 tonnes to Egypt.
In Northern and Western Illinois country grain dealers quoted shelled corn
bids were 4 to 8 cents higher at 3.71-3.84. Soybean bids were down 8 to 9
cents at 9.92-10.04.
In Central Illinois country grain dealers quoted shelled corn bids were up
6 to 8 cents at 3.80-3.98. Soybean bids were 7 to 9 cents lower at
10.06-10.24.
In the Southern part of the state, shelled corn bids were 6 to 9 cents
higher at 3.88-4.03. Soybean bids were 6 to 9 cents lower at 10.04-10.23.
Wheat bids were mostly 2 cents lower at 5.79-5.92. Milo bids were 6 to 9
cents higher at 3.61-3.97.
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  US 2 SORGHUM
NORTHERN    3.71 - 3.82   9.92 -  9.99   -----------     -----------
WESTERN     3.75 - 3.84   9.99 - 10.04   -----------     -----------
N. CENTRAL  3.80 - 3.90  10.06 - 10.15   -----------     -----------
S. CENTRAL  3.86 - 3.98  10.14 - 10.24   -----------     -----------
WABASH      3.93 - 4.03  10.04 - 10.19   5.79 - 5.92     3.96 - 3.97
W.S. WEST   3.88 - 3.96  10.11 - 10.23   5.79 - 5.90     3.61 - 3.90
L. EGYPT    3.96 - 4.01  10.04 - 10.19   5.79 - 5.89     3.96 - 3.97
Central Illinois average price   Corn       3.89      (-32     U)
Soybeans  10.15      (+11     X)
CONTRACT BIDS FOR NEW CROP DELIVERY
AREA          CORN         SOYBEANS      SOFT WHEAT       SORGHUM
NORTHERN    3.90 - 4.01   9.64 -  9.76   -----------     -----------
WESTERN     3.84 - 3.91   9.67 -  9.77   -----------     -----------
N. CENTRAL  3.91 - 3.96   9.56 -  9.68   -----------     -----------
S. CENTRAL  3.89 - 3.99   9.71 -  9.79   -----------     -----------
WABASH      3.94 - 4.01   9.64 -  9.74   6.05 - 6.14     -----------
W.S. WEST   3.93 - 4.00   9.79 -  9.88   5.86 - 6.16     -----------
L. EGYPT    3.91 - 3.98   9.69 -  9.81   5.96 - 6.10     -----------
Illinois grains-Prices ended the reporting week mixed, with corn higher
and soybeans and wheat lower.  Corn futures were supported by the world
demand for feed grains and a very good week for export sales.  The
drought in Russia continues to influence trading in both wheat and corn
futures. World demand for feed grains stayed strong as countries look to
fill their needs that were to be supplied by Russian grain.  This week
temperatures cooled and some scattered showers in Russia pressured wheat
values.  Many traders are still concerned how the drought will affect
Russian wheat planting.   Weekly export sales figures for corn, soybeans
and wheat were all over trade expectations, with corn numbers the highest
for new crop since 1994.  Weekly export sales for corn totaled 2.888
million tonnes, with soybeans at 2.231 million tonnes, with wheat sales
totaling 1.412 million tonnes, the highest wheat total in 34 months.
The National Oilseed Processors Association (NOPA) posted their soybean
crush figure for July 2010.  The crush was 124.18 million bushels, which
was lower than the June crush of 126.24 million bushels, but higher than
the July 2009 figure of 120.92 million bushels.
According to the Illinois Crops and Weather report, from the Illinois
Field Office of the National Ag Statistics Service, for the week ending
August 15th, 63% of the Illinois corn crop was in the Good to Excellent
condition, which was 1% lower than last week.  The soybean crop was 64%
in the Good to Excellent condition, which was 1% higher than last week.
The Illinois corn crop had 51% in the dent stage, compared to 5% last
year and 29% for the five year average.  There was 2% of the Illinois crop
in the mature stage, compared to less than one per cent last year and 3%
for the five year average. There were a few country grain elevators and
terminals receiving a few loads of new corn this week.  There was 85% of
the state's soybean crop setting pods, compared to 56% last year and 79%
for the five year average. There was also 2% turning yellow, compared to
less than one per cent last year and only 1% for the five year average.
There were 10% of the regions in Illinois that reported topsoil moisture
surplus, with 62% adequate and 28% short to very short.  In the southeast
region, they need a rain.  There was only 3% adequate, with 50% short and
47% of the area very short on topsoil moisture.
Trading in the cash markets was moderate this week. The 4.00 mark was
attained at a few grain terminals; this was another goal for farmers to
sell corn out of the field. Cash basis was weak at the processors, but
slightly higher at many river terminals.  Cash bids to producer at the
Central Illinois Soybean Processor dropped 31 to 41 cents to 10.32-10.57,
with basis down 15 to 25 cents to range from +20X to +45X.  Cash corn bids
to producers at the Central Illinois Corn Processors increased 3 to 8
cents to 3.97-4.04, with basis steady to 5 cents lower at -17U to -10U.
At the Illinois River terminals south of Peoria, cash corn bids gained 6
to 10 cents to 3.86-3.92, with basis mixed at -28U to -22 1/2U.  Cash
soybean bids fell 9 to 15 cents to 10.28-10.30, with basis up 1 to 7
cents to range from +16X to +18X.  New crop corn bids were 9 to 10 cents
higher at 3.95-3.97, with basis up 1 to 2 cents to range from -34Z to
-32 1/2Z.  New crop soybean bids declined 13 to 14 cents to 10.00-10.03,
with basis up 2 to 3 cents to -12X to -9 1/2X.  At the Illinois River
terminals north of Peoria, the cash corn bids gained 15 cents to 3.95-
3.97, with basis up 7 cents to range from -19U to -17U.  Cash soybean
bids fell 6 to 7 cents at 10.31-10.34, with basis up 9 to 10 cents
ranging from +19X to +22X.  New crop corn bids advanced 9 cents to
3.89-3.91, with basis up 1 cent to -40Z to -38Z.  New crop soybean bids
fell 15 cents to range from 9.88-9.91, with basis 1 cent higher at -24X
to -21X.  Cash corn bids to producers at the St. Louis River terminals
increased 17 to 18 cents to 3.99-4.09, with soybean bids down 4 to 8
cents to 10.38-10.50.  Cash bids for Soft Red wheat dropped 40 cents to
6.08-6.09, with cash sorghum bids gaining 7 cents to range from 3.83-
3.84.
In northern and western Illinois, cash corn bids to producers at country
elevators were 10 to 14 cents higher at 3.67-3.76, at the central
Illinois locations bids were up 8 to 11 cents at 3.74-3.91 and in
southern Illinois bids were up 5 to 19 cents at 3.81-3.96. Cash soybean
bids were down 11 to 12 cents at 10.01-10.12 in northern and western
Illinois, with central Illinois locations 27 to 38 cents lower ranging
from 10.14-10.32 and southern Illinois bids dropped 10 to 12 cents at
10.12-10.32. Cash wheat bids to producers at the country elevators
in southern Illinois fell 27 to 37 cents to range from 5.73-5.96. Cash
sorghum bids at country elevators in the southern part of Illinois were
up 8 to 15 cents to range from 3.44-3.90.
Bids for new crop delivery corn to producers at country elevators in
northern and western Illinois were 8 to 17 cents higher at 3.79-3.94,
with central Illinois bids up 7 to 10 cents at 3.82-3.95 and in the
southern part of the state bids were 7 to 11 cents higher at 3.85-3.99.
Bids for new crop soybeans to producers at country elevators in northern
and western Illinois dropped 15 cents to 9.72-9.85, with central
Illinois locations 16 to 18 cents lower ranging from 9.64-9.87 and
southern Illinois bids were down 12 to 16 cents at 9.72-9.97.
Central Illinois Average Price at Country Elevators
8/19/2010           8/12/2010
Price     Basis     Price      Basis
Corn          3.82 1/2   -32 U      3.73      -33 U
Soybeans     10.23       +11 X     10.55 1/2  +27X
Source: USDA-Illinois Dept of Ag Market News Springfield, IL

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