GX_GR113
Springfield, IL    Fri Aug 28, 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
soybeans higher and wheat and corn mostly lower. Good export demand
continued to support stronger soybean values. The USDA announced
another sale of 110,000 tonnes of US soybeans to China Friday morning,
with another sale of 60,000 tonnes to Taiwan overnight. The cash
soybean basis continues to move higher, with many processors up 25 to 30
cents this afternoon.

In Northern and Western Illinois country grain dealers quoted shelled
corn bids mixed at 3.07-3.22. Soybean bids were mostly 15 to 30 cents
higher at 11.27-11.53.

In Central Illinois country grain dealers quoted shelled corn bids were
mixed at 3.11-3.21. Soybean bids were mostly 38 to 50 cents higher at
11.61-11.95.

In the Southern part of the state, shelled corn bids were 2 cents lower
at 3.05-3.25. Soybean bids were mostly 15 to 20 cents higher at
10.64-11.50. Wheat bids were 8 to 9 cents lower at 2.71-2.87. Milo bids
were steady at 2.70-2.79.

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    3.13 - 3.22  11.27 - 11.41   

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WESTERN     3.07 - 3.18  11.36 - 11.53   

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N. CENTRAL  3.11 - 3.17  11.61 - 11.93   

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S. CENTRAL  3.16 - 3.21  11.81 - 11.95   

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WABASH      3.20 - 3.25  11.01 - 11.20   2.73 - 2.87     2.78 - 2.79
W.S. WEST   3.05 - 3.13  11.33 - 11.50   2.71 - 2.81     2.70 - 2.78
L. EGYPT    3.09 - 3.19  10.64 - 10.71   2.71 - 2.86     

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Central Illinois average price   Corn       3.16       (-   5     U)
                                 Soybeans  11.78       (+1.67     X)

                    CONTRACT BIDS FOR NEW CROP DELIVERY

AREA           CORN        SOYBEANS     **SOFT WHEAT**     SORGHUM
NORTHERN    2.90 - 2.99    9.86 - 9.96   

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WESTERN     2.84 - 2.94    9.85 - 9.93   

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N. CENTRAL  2.95 - 3.05    9.74 - 9.89   

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S. CENTRAL  2.94 - 3.04    9.86 - 9.96   

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WABASH      2.93 - 3.04    9.74 - 9.83   

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W.S. WEST   2.92 - 3.01    9.88 - 9.96   

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L. EGYPT    2.91 - 2.99    9.78 - 9.89   

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**January delivery

Illinois grains- Prices were higher this week at the Board of Trade.
Export news and tight supplies have given a boost to soybean values.
Last week, China had purchased almost 900,000 tonnes of US soybeans and
this week the buying spree continued.  Tight supplies of old crop
soybeans and soybean meal continued to lift the September month of
soybean futures.  The Census Bureau's July crush number was also
supportive news this week at 129.4 million bushels.  To help support
wheat values, Egypt bought some US Soft Red Winter Wheat this week.

This week's Illinois Weather and Crops report for August 23, showed
just a small drop in corn conditions for Illinois, with the soybean
crop unchanged.  There was 61% of the states corn crop in the Good to
Excellent range, with 29% Fair and 10% in Poor to Very Poor condition.
There was 12% of the Illinois corn crop in the dent stage, compared to
27% last year and the five year average of 58%.   The Illinois soybean
crop improved slightly with 60% in the Good to Excellent range, with
31% Fair and 9% in Poor to Very Poor condition.  There has been 72% of
the crop setting pods, compared to 89% last year and the five year
average of 94%.  With the corn crop behind schedule, many professionals
use the term growing degree days to measure the maturity of the crop.
On the average, the corn crop in northern and western Illinois was
from 211 to 242 growing degree days behind the average, with central
Illinois ranging from 132 to 182 behind and in southern Illinois 34 to
93 growing degrees behind average.

In the cash markets, trading activity was slow to moderate this week.
The item in demand this week was old crop soybeans.  The cash soybean
basis exploded this week and at the same time has become highly volatile.
Good export demand and demand from many soybean processors for the last
of the old crop soybeans has driven basis sharply higher for the week.
At the Central Illinois Soybean processors, cash soybean bids increased
89 to 94 cents to 11.46-11.76, with basis gaining 50 to 55 cents to
range from +150X to +180X.  The Central Illinois Corn Processors cash
bids ended 3 to 4 cents higher at 3.33-3.42, with basis steady to 1
cent lower at +10U to +19U.  At the Illinois River terminals south of
Peoria cash corn bids were down 2 cents to 3.24-3.27, with basis 6 to
7 cents lower at +1U to +4U.  Cash soybean bids gained 47 to 51 cents
to 10.49-10.81, with basis 8 to 12 cents higher at +53X to +85X.  New
crop corn bids for October delivery increased 3 to 5 cents to 3.08-3.09,
with basis steady to 2 cents lower at -21Z to -20Z.  New crop soybean
bids advanced 43 to 52 cents to range from 9.96-9.99, with basis 3 to 5
cents higher at option X to +3X.  At the Illinois River terminals north
of Peoria, cash corn bids were down 4 to 5 cents to 3.23-3.24, with
basis 8 to 10 cents lower at option U to +1U.  Cash soybean bids advanced
1.05 to 1.33 to range from 11.26-11.56, with basis up 66 to 94 cents to
+130X to +160X.  New crop corn bids were 1 to 2 cents higher to 3.03-3.07,
with basis 3 to 4 cents lower at -25 1/2 Z to -22Z.  New crop soybean
bids for October delivery gained 44 cents to range from 9.89-9.96, with
basis 5 cents higher at -7X to option X.

In northern and western Illinois, cash corn bids to producers at country
elevators were mixed ranging from 3.07-3.24, central Illinois bids were


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