GX_GR113
Springfield, IL    Fri Sep 4, 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 lower on Friday afternoon. Speculative
and technical selling pushed grain prices lower. Many traders evened
positions ahead of the long Labor Day holiday. Late in the day another
break in soybean bids weakened the basis.

In Northern and Western Illinois country grain dealers quoted shelled corn
bids 7 to 10 cents lower at 2.90-3.02. Soybean bids were down 50 to 60
cents at 9.90-10.06.

In Central Illinois country grain dealers quoted shelled corn bids were
9 to 12 cents lower at 2.85-2.98. Soybean bids were mostly 24 to 25 cents
lower at 10.12-10.22.

In the Southern part of the state, shelled corn bids were down 8 to 10
cents at 2.83-3.02. Soybean bids were 25 to 26 cents lower at 9.10-9.72.
Wheat bids were mixed at 2.54-2.72. Milo bids were 4 to 10 cents lower
at 2.16-2.60.

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    2.90 - 3.02   9.90 - 10.06   

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WESTERN     2.91 - 2.99   9.97 - 10.02   

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N. CENTRAL  2.85 - 2.97  10.12 - 10.22   

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S. CENTRAL  2.91 - 2.98  10.18 - 10.22   

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WABASH      2.93 - 3.02   9.67 -  9.72   2.54 - 2.72     2.16 - 2.26
W.S. WEST   2.83 - 2.88   9.10 -  9.21   2.54 - 2.55     2.50 - 2.60
L. EGYPT    2.96 - 3.00   9.62 -  9.72   2.54 - 2.62     

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Central Illinois average price   Corn       2.91 1/2   (- 15    Z)
                                 Soybeans  10.17       (+ 95    X)

                    CONTRACT BIDS FOR JANUARY DELIVERY

AREA           CORN        SOYBEANS      SOFT WHEAT       SORGHUM
NORTHERN    2.78 - 2.92    9.07 - 9.15   

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WESTERN     2.82 - 2.93    9.13 - 9.23   

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N. CENTRAL  2.87 - 2.98    9.09 - 9.20   

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S. CENTRAL  2.84 - 3.00    9.11 - 9.27   

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WABASH      2.93 - 3.02    9.02 - 9.17   

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W.S. WEST   2.84 - 2.97    9.14 - 9.28   

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L. EGYPT    2.95 - 3.00    9.17 - 9.21   

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Illinois grains- Prices were lower this week at the Board of Trade,
with soybean values sharply lower.  Traders seemed to focus on the
good growing conditions for the cornbelt and the lack of a threat of
frost to push prices lower.  Funds were sellers this week to help
weaken prices.  Weekly export sales for both corn and soybeans
remained good.  This week net sales of US corn totaled 938,900 tonnes,
with soybeans at 1.048 million tonnes.  The Chinese continued to
buy US soybeans, though at a slower pace than last week.  The USDA
announced at least two purchases for the week on Monday and Thursday.

This week's Illinois Weather and Crops report for August 30, showed
just a small increase in corn conditions for Illinois, with the
soybean crop unchanged.  There was 62% of the states corn crop in the
Good to Excellent range, with 27% Fair and 11% in Poor to Very Poor
condition.  There was 26% of the Illinois corn crop in the dent stage,
compared to 45% last year and the five year average of 73%.  The
Illinois soybean crop improved slightly with 60% in the Good to
Excellent range, with 30% Fair and 10% in Poor to Very Poor condition.
There has been 91% of the crop setting pods, compared to 95% last year
and the five year average of 98%.  With temperatures averaging 6.3
degrees below average last week, the Illinois crops fell farther
behind on growing degree days. On the average, the corn crop in
northern and western Illinois was from 256 to 290 growing degree days
behind the average, with central Illinois ranging from 171 to 226
behind and in southern Illinois 69 to 130 behind.

In the cash markets, trading activity was moderate this week.  Old
crop soybeans and basis were the center of attention in the cash trade.
Last week the demand for old crop soybeans for the export market and
from some soybean processors caused a rapid increase in the old crop
basis.  Daily increases of 10 to 20 cents per bushel were becoming
quite common as the competition to buy the remaining stocks was very
high.  By Thursday, the southern US had started to harvest their 2009
crop.  This new supply of available soybeans was enough to start the
fall of the basis at the gulf and at soybean processors by 30 to 90
cents per bushel.  For the week, cash bids to producers at the Central
Illinois Soybean Processors fell 55 to 80 cents to 10.66-11.21, with
basis steady to 25 cents lower ranging from +125X to +180X.  At the
Central Illinois Corn Processors, cash bids declined 16 to 17 cents to
3.16-3.26, with basis ranging from option Z to +10Z.  At the Illinois
River terminals south of Peoria, cash corn bids were down 15 to 16
cents to 3.08-3.12, with basis ranging from -8Z to -4Z.  Cash soybean
bids dropped .90 to 1.09 to range from 9.59-9.72, with basis falling
35 to 54 cents to +18X to +31X.  Bids for January 2010 delivery corn
ranged from 3.15-3.17, with basis at -14H to -12H.  Soybean bids
for January delivery ranged from 9.55-9.60, with basis at +10F to +15F.
At the Illinois River terminals north of Peoria, cash corn bids were 3
to 8 cents lower at 3.15-3.21, with basis ranging from -1Z to +5Z.
Soybean bids dropped .87 to 1.15 to range from 10.39-10.41, with basis
down 32 to 60 cents at +98X to +100X.  Corn bids for January 2010
delivery ranged from 3.11-3.15, with basis at -17 1/2 H to -13 1/2 H.
January delivery soybean bids closed at a range of 9.54-9.60, with
basis at +8 1/2 F to +15F.

In northern and western Illinois, cash corn bids to producers at
country elevators were down 7 to 15 cents to 3.00-3.09, central


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