GX_GR113 Springfield, IL Fri Mar 13, 2009 USDA-IL Dept of Ag Market News 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 up and soybeans and wheat down. Soybeans finished lower despite the USDA's announcement of the sale of 120,000 tonnes of US soybeans to China. In Northern and Western Illinois country grain dealers quoted shelled corn bids mostly 3 cents higher at 3.59-3.69. Soybean bids were 4 to 5 cents lower at 8.60-8.75. In Central Illinois country grain dealers quoted shelled corn bids were 2 cents higher at 3.62-3.72. Soybean bids were 7 to 10 cents lower at 8.60-8.72. In the Southern part of the state, shelled corn bids were 1 to 3 cents higher at 3.63-3.82. Soybean bids were 4 to 5 cents lower at 8.67-8.79. Wheat bids were mostly 7 cents lower at 4.15-4.43. Milo bids were 2 to 4 cents higher at 3.02-3.34. 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 3.59 - 3.69 8.60 - 8.67 ----------- ----------- WESTERN 3.61 - 3.65 8.64 - 8.75 ----------- ----------- N. CENTRAL 3.62 - 3.72 8.60 - 8.69 ----------- ----------- S. CENTRAL 3.62 - 3.71 8.65 - 8.72 ----------- ----------- WABASH 3.77 - 3.82 8.68 - 8.77 4.28 - 4.38 3.29 - 3.34 W.S. WEST 3.63 - 3.70 8.67 - 8.73 4.15 - 4.25 3.02 - 3.13 L. EGYPT 3.74 - 3.79 8.70 - 8.79 4.37 - 4.43 ----------- Central Illinois average price Corn 3.67 (-21 1/2 K) Soybeans 8.66 (-10 1/2 K) CONTRACT BIDS FOR NEW CROP DELIVERY AREA CORN SOYBEANS SOFT WHEAT SORGHUM NORTHERN 3.62 - 3.73 7.62 - 7.69 ----------- ----------- WESTERN 3.55 - 3.64 7.59 - 7.67 ----------- ----------- N. CENTRAL 3.62 - 3.72 7.64 - 7.74 ----------- ----------- S. CENTRAL 3.63 - 3.80 7.63 - 7.74 3.95 - 4.11 ----------- WABASH 3.71 - 3.78 7.54 - 7.69 4.37 - 4.46 ----------- W.S. WEST 3.56 - 3.68 7.50 - 7.56 4.37 - 4.51 ----------- L. EGYPT 3.71 - 3.78 7.54 - 7.71 4.44 - 4.54 ----------- Illinois grains-Prices ended higher this week at the Board of Trade. Supportive news came from several different directions for the grain markets. On Monday, weekly export inspection figures for corn were above trade expectations at 40.56 million bushels. Then on Wednesday, the USDA's Supply Demand report dropped the carryout numbers for corn and soybean more than expected. The 2008-2009 carryout for corn was estimated at 1.74 billion bushels and soybeans were forecasted at 185 million bushels. On Thursday, weekly export sales figures for all grains were above expectations at 13.3 million bushels for wheat, 43.0 million for corn, and soybeans at 30.8 million bushels. Also giving a boost to the futures market was the rally in the stock market that lasted more than one day. Trading of cash grain was active this week. On Tuesday's rally, grain merchandisers were very busy buying corn and soybeans, but mostly corn. On Thursday's rally many producers decided to make additional sales, but trading activity was not as busy as Tuesday. With the flurry of cash sales one would expect basis to suffer and it did weaken but really didn't fall too badly. While it didn't affect the grain market, the high water levels along the Illinois and Mississippi Rivers did slow grain movement. Several river terminals along the Illinois River closedg because of the high water. Whether the water was high enough to close roads around the terminal or too high to load barges, it has been a headache for elevator operators. Water levels have crested along the northern sections of the Illinois River and will crest on the southern portions of the Illinois and the Mississippi Rivers over this coming weekend. Cash bids to producers at the Central Illinois Soybean Processors advanced 28 to 30 cents to 8.97-9.02, with basis steady to 2 cents weaker ranging from +15K to +20K. At the Central Illinois Corn processors, cash bids to producers gained 25 to 27 cents to 3.81-3.88, with basis steady to 2 cents lower at -4K to +3K. Cash bids to producers for corn along the Illinois River south of Peoria increased 22 to 24 cents to 3.77-3.78, with basis down 2 to 5 cents ranging from -8K to -7K. Cash soybean bids were up 28 to 29 cents to 8.96-8.98, with basis 1 to 2 cents lower at +14K to +16K. Cash corn bids to producers at the Illinois River terminals north of Peoria gained 25 cents this week to range from 3.77-3.79, with basis down 2 cents to -8K to -6K. Cash soybean bids increased 25 to 26 cents to 8.92-8.94, with basis down 4 to 5 cents to range from +10K to +12K. New crop corn bids to producers at the Illinois River terminals south of Peoria gained 29 cents to range from 3.78-3.84, with basis up 1 cent at -37Z to -31Z. New crop soybean bids advanced 42 cents to 7.95-8.03, with basis steady at -46X to -38X. New crop wheat bids for June-July delivery ended 7 to 10 higher at 4.57-4.63, with basis steady to 3 cents lower at -80N to -74N. New crop corn bids to producers at the Illinois River terminals north of Peoria gained 28 to 29 cents for the week to 3.76-3.79, with basis steady at -39Z to -36 1/2Z. New crop soybean bids were up 41 cents to 7.99-8.01, with basis down 1 cent at -42X to -40X. In northern and western Illinois, cash corn bids to producers at country elevators ended 25 to 29 cents higher ranging from 3.60-3.66, central Illinois bids went up 23 to 28 cents to 3.60-3.70 and southern Illinois bids gained 22 to 23 cents ranging from 3.60-3.81. Cash soybean bids increased 30 to 32 cents at 8.64-8.80 in northern and western Illinois; the central Illinois bids gained 25 to 30 cents to 8.67-8.82 and southern Illinois bids were up 24 to 29 cents at 8.71-8.84. At the southern Illinois locations cash wheat bids were 20 to 22 cents higher with prices ranging from 4.22-4.60. Cash sorghum bids were up 25 to 41 cents ranging from 3.00-3.30. In northern and western Illinois, corn bids for New Crop delivery were up 29 cents at 3.56-3.70, with central Illinois bids 28 cents higher at 3.61-3.78 and in the southern areas of the state bids gained 28 cents to 3.54-3.76. Soybean bids for New Crop delivery in northern and western Illinois were up 37 to 42 cents at 7.76-7.86; with central Illinois bids increasing 43 cents ranging from 7.82-7.93 and southern Illinois bids were 42 to 43 cents higher at 7.67-7.89. Bids for June-July 2009 delivery wheat in central Illinois were 10 to 19 cents higher ranging from 4.01-4.16, with bids in southern Illinois up 11 to 14 cents ranging from 4.43-4.61. Central Illinois Average Price at Country Elevators 3/12/2009 3/5/2009 Price Basis Price Basis Corn 3.65 -20K 3.39 1/2 -19K Soybeans 8.74 1/2 -7 1/2K 8.47 -5K Source: USDA-Illinois Dept of Ag Market News Springfield, IL Phone: 217-782-4925 In state only toll free 888-458-4787 www.ams.usda.gov/LSMarketNews 15:44 C jm/gw