GX_GR113
Springfield, IL    Fri Mar 20, 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. Many
events fueled today's soybean rally. The events included: fund
buying at the Board of Trade, the soybean farmer protest in Argentina,
and the export sale of US soybeans to China. The cash grain market had
a surprisingly slow day in comparison with the rest of the week. This
week has been the best of several for farmer selling of corn and
soybeans. Trade has been moderate to active.

In Northern and Western Illinois country grain dealers quoted shelled
corn bids steady to 1 cent lower at 3.65-3.71. Soybean bids were 11
cents higher at 9.32-9.46.

In Central Illinois country grain dealers quoted shelled corn bids were
mostly steady at 3.69-3.79. Soybean bids were 9 to 11 cents higher at
9.33-9.44.

In the Southern part of the state, shelled corn bids were steady to 2
cents lower at 3.66-3.89. Soybean bids were 12 cents higher at 9.36-9.50.
Wheat bids were 5 cents lower at 4.42-4.70. Milo bids were steady to 3
cents lower at 3.00-3.42.

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    3.65 - 3.71   9.32 - 9.36    

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WESTERN     3.65 - 3.70   9.37 - 9.46    

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N. CENTRAL  3.69 - 3.75   9.36 - 9.44    

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S. CENTRAL  3.69 - 3.79   9.33 - 9.44    

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WABASH      3.79 - 3.89   9.38 - 9.49    4.60 - 4.70     3.36 - 3.42
W.S. WEST   3.66 - 3.73   9.36 - 9.44    4.42 - 4.51     3.00 - 3.07
L. EGYPT    3.78 - 3.83   9.41 - 9.50    4.50 - 4.54     

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Central Illinois average price  Corn      3.74       (-22 1/2 K)
                                Soybeans  9.38 1/2   (-13 1/2 K)

                    CONTRACT BIDS FOR NEW CROP DELIVERY

AREA           CORN        SOYBEANS       SOFT WHEAT       SORGHUM
NORTHERN    3.76 - 3.83    8.25 - 8.37   

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WESTERN     3.68 - 3.73    8.26 - 8.40   

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N. CENTRAL  3.78 - 3.87    8.31 - 8.43   

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S. CENTRAL  3.73 - 3.89    8.33 - 8.44   4.27 - 4.33    

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WABASH      3.80 - 3.88    8.28 - 8.38   4.69 - 4.78    

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W.S. WEST   3.63 - 3.74    8.22 - 8.27   4.59 - 4.72    

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L. EGYPT    3.79 - 3.88    8.28 - 8.44   4.69 - 4.78    

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Illinois grains-Prices ended higher for the second week straight at
the Board of Trade.  Fund and technical buying fueled part of this
week's rally in the grain futures.  An increase in the stock market
and the sharply lower value of the US dollar also pushed prices up.
The fundamental news which supported last week's increase weighed on
prices this week.  Weekly export sales figures and export inspection
numbers were lower than expected for corn, soybeans, and wheat.

Cash grain trading had another active week.  During the week, several
grain terminals had their cash corn basis strong enough for cash bids
to reach the 4.00 level during the trading session. The 4.00 price
level was a target for many producers to make additional sales. The
sharply higher move in soybeans gave farmers some hope for higher
prices. Due to the increase in soybean prices some additional soybean
sales occurred. The higher water levels along the Illinois River still
posed some headaches for river terminals this week.  The water has
started to fall enough for some terminals to reopen, but with rain in
the forecast for next week the problem will not go away.

Cash bids increased, but basis decreased at many grain terminals and
processors.  Cash soybean bids to producers at the Central Illinois
Soybean Processors increased 53 to 54 cents to 9.50-9.56, with basis
ending 4 to 5 cents lower at +10K to +16K.  The Central Illinois Corn
Processors bids to producers gained 4 to 7 cents at 3.88-3.92, with
basis down 4 to 7 cents to range from -8K to -4K.  At the Illinois
River terminals south of Peoria, cash corn bids were up 5 to 6 cents
at 3.82-3.84, with basis down 5 to 6 cents to -14K to -12K.  Cash
soybean bids advanced 56 to 57 cents to 9.52-9.55, with basis falling
1 to 2 cents at +12K to +15K.  New crop bids for corn ended 7 to 9
cents stronger at 3.85-3.93, with basis down 4 to 6 cents at -43Z to
-35Z.  New crop soybean bids increased 51 to 54 cents to 8.46-8.57,
with basis steady to 3 cents higher at -46X to -35X.  New crop wheat
bids gained 19 to 23 cents at 4.76-4.86, with basis 7 to 11 cents
lower to range from -91N to -81N. At the Illinois River terminals
north of Peoria, cash corn bids gained 5 to 6 cents at 3.82-3.85,
with basis down 5 to 6 cents to range from -14K to -11K.  Cash
soybean bids were up 56 to 57 cents to 9.48-9.51, with basis 1 to 2
cents lower at +71/2K to +11K.  New crop corn bids increased 5 to 6
cents for the week to range from 3.89-3.91, with basis steady at -39Z
to -361/2Z. New crop soybean bids advanced 57 to 61 cents to
8.56-8.62, with basis up 6 to 10 cents at -36X to -30X.

 In northern and western Illinois, cash corn bids to producers at
country elevators ended 5 to 6 cents higher ranging from 3.65-3.72,
central Illinois bids went up 6 to 10 cents to 3.68-3.80 and southern
Illinois bids gained 8 cents ranging from 3.68-3.89. Cash soybean
bids increased 55 to 57 cents at 9.21-9.35 in northern and western
Illinois; the central Illinois bids gained 51 to 57 cents to 9.24-9.33
and southern Illinois bids were up 53 to 54 cents at 9.24-9.38. At the
southern Illinois locations cash wheat bids were 15 to 25 cents higher
with prices ranging from 4.47-4.75. Cash sorghum bids were up 3 to 12
cents ranging from 3.03-3.42.

In northern and western Illinois, corn bids for New Crop delivery were
up 12 to 13 cents at 3.68-3.83, with central Illinois bids 11 to 12


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