GX_GR113
Springfield, IL    Fri Aug 14, 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 mostly lower on Friday afternoon.
Speculative, fund, and technical selling at the Board of Trade kept
prices down on Friday. Also adding a negative influence was today's
National Oilseed Processors Association monthly crush report. They
reported the July soybean crush at only 120.9 million bushels. The
number was under trade estimates and down from 133.1 million in June.
In the cash markets, trading activity was very slow. The cash
soybean basis continues to go down. The basis at soybean processors
ended 35 to 45 cents lower, with many Illinois River terminals down
45 to 49 cents per bushel.

In Northern and Western Illinois country grain dealers quoted shelled
corn bids 5 to 8 cents lower at 3.07-3.15. Soybean bids were down 48 to
93 cents at 10.58-10.91.

In Central Illinois country grain dealers quoted shelled corn bids were
5 cents lower at 3.08-3.20. Soybean bids were down 70 to 73 cents at
10.53-10.71.

In the Southern part of the state, shelled corn bids were 4 to 7 cents
lower at 3.15-3.29. Soybean bids were sharply lower at 10.52-10.69.
Wheat bids were mostly 6 to 8 cents lower at 2.80-3.00. Milo bids were
6 to 7 cents lower at 2.60-2.69.

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    3.08 - 3.13  10.83 - 10.91   

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WESTERN     3.07 - 3.15  10.58 - 10.78   

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N. CENTRAL  3.08 - 3.17  10.56 - 10.71   

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S. CENTRAL  3.14 - 3.20  10.53 - 10.62   

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WABASH      3.19 - 3.29  10.64 - 10.69   2.90 - 3.00     2.68 - 2.69
W.S. WEST   3.15 - 3.22  10.56 - 10.62   2.80 - 3.00     2.60 - 2.66
L. EGYPT    3.20 - 3.24  10.52 - 10.69   2.95 - 3.00     

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Central Illinois average price   Corn       3.14       (-  5 1/2 U)
                                 Soybeans  10.62       (+ 80 1/2 X)

                    CONTRACT BIDS FOR NEW CROP DELIVERY

AREA           CORN        SOYBEANS     **SOFT WHEAT**     SORGHUM
NORTHERN    2.86 - 2.95    9.36 - 9.47   

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WESTERN     2.84 - 2.90    9.42 - 9.57   

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N. CENTRAL  2.94 - 3.01    9.46 - 9.52   

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S. CENTRAL  2.93 - 3.02    9.50 - 9.62   

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WABASH      2.95 - 3.05    9.45 - 9.57   

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W.S. WEST   2.88 - 3.00    9.48 - 9.56   

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L. EGYPT    2.92 - 2.98    9.49 - 9.58   

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**January delivery

Illinois grains- Prices were mixed, with corn and wheat lower and
soybeans higher. Trading action this week centered on the release of
the USDA's August Crop Production and Supply Demand reports.  In the
report the USDA estimated the 2009 US corn crop at 12.76 billion
bushels, with an average yield of 159.5 bushels per acre.  The US
soybean production was forecasted at 3.199 billion bushels, with an
average yield of 44 bpa.  The corn production figure was at the high
end of trade expectations.  There were no surprises in the Supply
Demand report.  The 2008-2009 corn carryout was estimated at 1.72
billion bushels, with the 2009-2010 corn carryout forecasted at
1.621 billion. The soybean carryout for the 2008-2009 crop year
was unchanged at 110 million bushels and the 2009-2010 crop was
forecasted at 210 million bushels.  Weekly export sales were very
good again this week; corn exports totaled 833,700 tonnes for both
old and new crop, with soybean sales totaling 1.02 million tonnes
for both old and new crop.  So far in this current marketing year
soybean sales are 103.9% of the USDA's forecast.

This week's Illinois Weather and Crops report for August 9, showed
some slight improvement in crop ratings for the Illinois corn and
soybeans.  There was 63% of the states corn crop in the Good to
Excellent range, with 27% Fair and 10% in Poor to Very Poor condition.
Maturity of the state's corn crop was still behind the average pace.
There was 29% of the Illinois corn crop in the dough stage, compared
to 45% last year and the five year average of 70%.   The Illinois
soybean crop improved slightly with 60% in the Good to Excellent
range, with 32% Fair and 8% in Poor to Very Poor condition. Like
the corn crop, the Illinois soybean crop was still slightly
behind the average pace.  There has been 43% of the crop setting
pods, compared to 52% last year and the five year average of 77%.

In the cash markets, trading activity was moderate this week. Some
producers took advantage of the rally on Tuesday to make additional
sales of old crop soybeans and some corn too.  The uncertainty of
the release of the USDA reports and the rally was enough incentive
for farmers to make the sale.  The cash basis for soybeans was in
a period of adjustment on Thursday afternoon, as it continued to
change Friday morning. Many river terminals were lowering basis
by 5 to 20 cent per bushel.  At the Central Illinois Soybean
Processors, cash soybean bids gained 4 to 17 cents for the week to
range from 11.59-11.69, with basis 15 to 28 cents higher ranging
from +140X to +150X.  Cash corn bids to producers at the Central
Illinois Corn Processors were up 5 cents to 3.34-3.43, with basis
2 cents higher ranging from +10U to +19U. At the Illinois River
terminals south of Peoria, cash corn bids dropped 2 to 3 cents to
3.36-3.39, with basis up 4 to 6 cents at +12U to +15U.  Cash
soybean bids fell 6 to 28 cents to range from 11.45-11.72, with
basis mixed at +126X to +153X.  New crop corn bids fell 5 to 7
cents to 3.11-3.12, with basis up 1 to 3 cents at -21Z to -20Z.
New crop soybean bids for October delivery were down 12 to 16


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