GX_GR113 Springfield, IL Thu Jul 2, 2009 USDA-IL Dept of Ag Market News ***THIS REPORT WILL NOT BE ISSUED ON JULY 3, 2009 IN OBSERVANCE OF THE HOLIDAY.*** Illinois Grain Prices at Country Elevators This is Thursday's report of the grain prices and trends prepared by the USDA and the Illinois Department of Agriculture. Illinois country grain prices were lower on Thursday afternoon. Many traders' continued to even positions ahead of the long Fourth of July holiday. The USDA did announce the sale of 660,000 tonnes of US soybeans to China for new crop delivery. In the cash markets, trading activity has been slow. Wheat harvest continues to move to the northern parts of Illinois. Some grain terminals and country elevators will be open this weekend for wheat harvest. In Northern and Western Illinois country grain dealers quoted shelled corn bids 7 to 8 cents lower at 3.25-3.34. Soybean bids were down 12 to 14 cents at 12.23-12.35. In Central Illinois country grain dealers quoted shelled corn bids were 9 to 10 cents lower at 3.23-3.36. Soybean bids were mostly 7 to 13 cents lower at 11.71-12.38. In the Southern part of the state, shelled corn bids were 9 to 13 cents lower at 3.28-3.52. Soybean bids were 10 to 17 cents lower at 11.91-12.29. Wheat bids were mostly 3 to 7 cents lower at 3.78-4.09. Milo bids were down 6 to 9 cents at 2.62-2.73. 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 3.25 - 3.30 12.23 - 12.35 ----------- ----------- WESTERN 3.26 - 3.34 12.27 - 12.31 ----------- ----------- N. CENTRAL 3.23 - 3.34 12.31 - 12.38 ----------- ----------- S. CENTRAL 3.31 - 3.36 11.71 - 11.76 4.18 - 4.25 ----------- WABASH 3.36 - 3.46 11.91 - 11.98 3.78 - 3.85 2.67 - 2.68 W.S. WEST 3.28 - 3.38 12.17 - 12.29 4.00 - 4.09 2.62 - 2.73 L. EGYPT 3.44 - 3.52 12.24 - 12.27 3.91 - 3.95 ----------- Central Illinois average price Corn 3.29 1/2 (-16 U) Soybeans 12.04 1/2 (+50 1/2 Q) CONTRACT BIDS FOR NEW CROP DELIVERY AREA CORN SOYBEANS **SOFT WHEAT** SORGHUM NORTHERN 3.10 - 3.20 9.57 - 9.66 ----------- ----------- WESTERN 3.09 - 3.16 9.63 - 9.73 ----------- ----------- N. CENTRAL 3.17 - 3.24 9.61 - 9.70 ----------- ----------- S. CENTRAL 3.18 - 3.28 9.70 - 9.76 ----------- ----------- WABASH 3.28 - 3.34 9.71 - 9.76 ----------- ----------- W.S. WEST 3.05 - 3.13 9.65 - 9.73 ----------- ----------- L. EGYPT 3.28 - 3.30 9.64 - 9.76 ----------- ----------- **January delivery Illinois grains-Prices ended mixed at the Board of Trade, with soybeans higher and wheat and corn lower. This week's news at the Board of Trade was dominated by the USDA's reports. On Tuesday, the USDA released the Planted Acreage and Quarterly Grain Stocks reports. According to the report, US farmers planted 87.0 million acres to corn, a record high 77.5 million acres to soybeans, and 59.8 million acres to wheat. The planted acreage for corn was the surprise in the report, as acres were much higher than expected by the trade. The Quarterly Grain Stocks report placed corn stocks as of June 1, 2009 at 4.27 billion bushels, up 6% from last year. Soybeans stocks were 597 million bushels, which was 12% lower than one year ago. Wheat stocks were much higher than one year ago at 667 million bushels, up 118% from 2008. Illinois farmers continued to make progress last week in planting and harvesting. With the great weather conditions, figures should be good again next week. From the Illinois Weather and Crops report, from the week ending June 28, soybean planting had finally reached 88%, compared to 96% last year and the five year average of 99%. Wheat harvest has reached 46% complete, compared to only 6% last week, and 92% last year. Sorghum planting was only 47% complete, compared to 92% last year and 95% for the five year average. This week the Illinois corn crop placed 58% in the Good to Excellent range, with 31% Fair, and 11% Very Poor to Poor. The state's soybean crop placed 55% in the Good to Excellent category, with 36% Fair and 9% rated Very Poor to Poor. In the cash grain markets, the fight for available supplies of soybeans continues. Many processors and grain terminals shifted their cash basis month from July (N) to August (Q), September (U), or November (X). So this week we will not have basis comparisons, however the basis for soybeans has remained very competitive. At the Central Illinois Soybean Processors cash bids to producers gained 43 to 48 cents to range from 12.50-12.70, with basis ranging from +235X to +255X. At the Central Illinois Corn Processors cash bids dropped 32 cents to range from 3.62-3.64, with basis ranging from +6U to +8U. At the Illinois River terminals south of Peoria, cash corn bids fell 30 to 31 cents to 3.55-3.57, with basis ranging from -1U to +1U. Cash soybean bids increased 51 to 54 cents to range from 12.66-12.72, with basis at +106Q to +112Q. Bids for Soft Red Winter wheat declined 39 to 40 cents to 4.33-4.41, with basis ranging from -102U to -94U. At the Illinois River terminals north of Peoria, corn bids were down 27 to 29 cents to 3.56-3.59, with basis option U to +3U. Cash soybean bids were up 52 to 57 cents to 12.64-12.70, with basis ranging +103 1/2Q to +110Q. Wheat bids dropped 38 to 45 cents to 4.25-4.36, with basis ranging from -110U to -99 1/2U. In northern and western Illinois, cash corn bids to producers at country elevators fell 25 to 28 cents ranging from 3.32-3.42, central Illinois bids were down 32 to 33 cents at 3.33-3.47, and southern Illinois locations were 28 to 32 cents lower ranging from 3.41-3.61. Cash soybean bids increased 50 cents to 12.35-12.49 in northern and western Illinois, with central Illinois locations gaining 12 to 31 cents ranging from 11.84-12.30, and southern Illinois bids were up 14 to 41 cents at 12.01-12.46. Cash wheat bids to producers at the country elevators in central Illinois fell 23 to 27 cents to 4.25-4.31, with southern Illinois locations down 27 to 35 cents at 3.81-4.06. Cash sorghum bids at country elevators in the southern part of Illinois were 25 to 34 cents lower ranging from 2.71-2.79. New crop corn bids to producers at country elevators in northern and western Illinois were down 26 to 31 cents to 3.20-3.30, with central Illinois bids 26 to 34 cents lower at 3.28-3.39, and in the southern part of the state bids were 31 to 33 cents lower to range from 3.17-3.45. Soybean bids to producers for new crop delivery in northern and western Illinois gained 12 to 15 cents to 9.67-9.85; with central Illinois locations up 11 to 14 cents ranging from 9.66-9.86, and southern Illinois bids increased 11 to 14 cents to 9.74-9.86. Central Illinois Average Price at Country Elevators 7/1/2009 6/25/2009 Price Basis Price Basis Corn 3.40 -16 1/2 U 3.72 1/2 -10 N Soybeans 12.07 +46 1/2 Q 11.85 1/2 -10 1/2 N 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 .