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