GX_GR118 Springfield, IL Mon Mar 30, 2009 USDA-IL Dept of Ag Market News Value enhanced grain summary This report describes Value Enhanced grain premiums contracted to Illinois growers for fall delivery. Grain prices are expressed as either a basis over the nearby Chicago Board of Trade (CBOT) futures contract at time of delivery, or as a straight premium over the spot cash price. Many of the contracts are variety specific, with only certain varieties approved. Value enhanced grain contracts have additional quality specifications concerning moisture, foreign material, damage, stress cracks or low temperature drying, and test weights. Delivery time is also negotiated with many contracts on a buyers call basis with many buyers requiring grain to be stored on the farm until after the harvest rush. Compared to last spring's report, the demand for all value enhanced grain is very light resulting in many terminals and processors reducing the number of bushels contracted by as much as 50% below the 2008 crop year. Most terminals have already contracted for all the value enhanced grains they need for this marketing year. Most local elevators are no longer tying up bin space for value enhanced grain and will buy these grains only if the producer agrees to deliver them to the terminals. Food Grade white corn contract premiums are steady to weak. Not enough high starch or hard endosperm corn contracts reported to establish a market trend. Non-GMO corn premiums are steady. NON-GMO soybean premiums were 50 to 60 cents higher. Not enough high protein soybean contracts reported to establish a market trend. Low linolenic soybean prices were 5 to 10 cents lower. Product/differentiating Pricing characteristics (cents/bu. del. elevator) Food Grade Yellow corn No contracts reported high amounts of vitreous endosperm White Corn +35 to +50 CBOT, buyers call +55 to +65 white kernel color white starch High Oil Corn No contracts reported oil content of 6.5% or greater High Starch Corn No contracts reported extractable starch yields greater than 69-70% Hard Endosperm Corn No contracts reported Waxy Corn No contracts reported starch over 99% amyl pectin Blue Corn No contracts reported NON-GMO Corn buyers call +60 to +70 cash -------------------------------------------------------------------------------- NON-GMO Soybeans +1.70 to +1.80 cash, buyers call up to +2.00 Edible Soybeans No contracts reported High Protein No contracts reported Low Linolenic +50 to +60 cash variety specific No. 2 Yellow Corn has average oil content 3.5-4.5, starch is 72-76% Amyl pectin and 24-28% amylase, protein average is 8.5%, test weight avg 56 lb/bu. Nutritionally Enhanced corn is higher in protein, amino acids, and oil than commodity corn. No. 1 Yellow Soybeans have average protein content of 35-37%. Contracts are delivered participating elevator unless otherwise noted. Source: USDA-Illinois Dept of Ag Market News Springfield Il 217-782-4925 in state only toll free 888-458-4787 www.ams.usda.gov/mnreports/GX_GR118 .