COMMENTARY
GRAIN COMMENTARY BY JEFF THATCHER
Wednesday April 28th
Corn: -10 ½ to -15 ¾
The corn market had a volatile session ahead of a moderately lower close. July futures ended the day just over a dime lower after trading in a range of over 40 cents. The December contract lost nearly 16 cents on the day after trading just slightly higher during the session. Spreads were erratic again with the May/July having a 20+ cent range. Strong planting progress along with profit taking weighed on today’s trade despite ongoing dryness is South America. Ethanol production was up just slightly from last week, which was disappointing, but stocks levels did again fall.
Soybeans: -5 ¾ to -14 ½
Soybeans also traded both sides of unchanged before a lower close. Old crop soy spreads were sharply higher today with the May contract gaining 8 cents and was the lone soy contract to post a higher close. New crop values ended over 14 cents lower and 20 cents below the day’s high. Soy products were mixed with soybean oil continuing to lead the complex. Funds were estimated as sellers of 10,000 contracts on the day as the trade is expecting very strong planting progress gains in next week’s update. Weekly export sales will be released in the morning with traders expecting only 3 million bushels of old crop bookings.
| Processor Bids and Hours are subject to change, please call before hauling | |||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN |
| ADM CR | 5-7 | 5-7 | |||||
| EDDYVILLE | 6-530 | ||||||
| STARCH | 7-5 | ||||||
| PENFORD | 730-230 | ||||||
| FORT DODGE | 630-530 | ||||||
| JEWELL | 730-4 | ||||||
| SEABOARD | |||||||
| FAIRBANK / FH | CLOSED | CLOSED | |||||
| IOWA FALLS / FH | 7-5 | 7-5 | |||||
| SHELLROCK / FH | 7-5 | 7-5 | |||||
| LINCOLN WAY | 7-4 | 7-4 | |||||
| PINELAKE | 730-4 | 730-4 | |||||
| IOWA FALLS/CARGIL | APPT | APPT | |||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | |||||
| ADM DM | 6-6 | 6-6 | 7-3 | ||||
| AGP EAGLE GROVE | 7-5 | 7-5 | |||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 4/19/2021 | 20.90% | ||
| AUG 20 | – | – | |||||
| SEP 20 | – | – | |||||
| DEC / NOV 20 | – | – | |||||
| JAN 21 | – | #REF! | |||||
| MAR 21 | #REF! | #REF! | |||||
| MAY21 | $6.86 | $15.58 | |||||
| JULY 21 | $6.44 | $15.14 | |||||
| DEC / NOV 21 | $5.46 | $13.28 | |||||
| CORN | |||||||
| APR | MAY | JUNE | JULY | NC21 | |||
| Bman/Crad/Gbrook | -0.02 | -0.02 | -0.02 | -0.02 | -0.35 | ||
| GrnMt/Mill Junc | $6.42 | $6.42 | $6.42 | $6.42 | $5.11 | ||
| Liscomb | 0.03 | 0.03 | 0.03 | 0.03 | -0.30 | ||
| $6.47 | $6.47 | $6.47 | $6.47 | $5.16 | |||
| Haverhill | 0.04 | 0.04 | 0.04 | 0.04 | -0.35 | ||
| $6.48 | $6.48 | $6.48 | $6.48 | $5.11 | |||
| Midway | 0.05 | 0.05 | 0.05 | 0.05 | -0.35 | ||
| $6.49 | $6.49 | $6.49 | $6.49 | $5.11 | |||
| Hudson/LaPorte | 0.00 | 0.00 | 0.03 | 0.00 | -0.35 | ||
| $6.44 | $6.44 | $6.47 | $6.44 | $5.11 | |||
| Cedar Falls | 0.03 | 0.03 | 0.03 | 0.03 | -0.30 | ||
| $6.47 | $6.47 | $6.47 | $6.47 | $5.16 | |||
| Jesup | 0.07 | 0.07 | 0.09 | 0.09 | -0.25 | ||
| $6.51 | $6.51 | $6.53 | $6.53 | $5.21 | |||
| EDDYVILLE | 0.35 | 0.27 | 0.29 | 0.29 | -0.30 | ||
| $6.79 | $6.71 | $6.73 | $6.73 | $5.16 | |||
| CEDAR RAPIDS | 0.40 | 0.29 | 0.25 | 0.25 | -0.20 | ||
| $6.84 | $6.73 | $6.69 | $6.69 | $5.26 | |||
| FORT DODGE | 0.25 | 0.28 | 0.28 | 0.33 | -0.13 | ||
| $6.69 | $6.72 | $6.72 | $6.77 | $5.33 | |||
| JEWELL | 0.1 | 0.10 | 0.20 | 0.20 | -0.3 | ||
| $6.54 | $6.54 | $6.64 | $6.64 | $5.16 | |||
| FAIRBANK | 0.13 | 0.13 | 0.17 | 0.17 | -0.25 | ||
| $6.57 | $6.57 | $6.61 | $6.61 | $5.21 | |||
| SEABOARD | 0.2 | 0.25 | -0.20 | ||||
| $6.64 | $6.69 | $5.26 | |||||
| IOWA FALLS | 0.15 | 0.15 | 0.20 | 0.20 | -0.25 | ||
| $6.59 | $6.59 | $6.64 | $6.64 | $5.21 | |||
| SHELLROCK | 0.15 | 0.15 | 0.15 | 0.15 | -0.25 | ||
| $6.59 | $6.59 | $6.59 | $6.59 | $5.21 | |||
| LINCOLNWAY | 0.17 | 0.18 | 0.18 | 0.18 | -0.30 | ||
| $6.61 | $6.62 | $6.62 | $6.62 | $5.16 | |||
| SINCLAIR | 0.10 | 0.10 | 0.14 | 0.14 | |||
| 6.54 | $6.54 | $6.58 | $6.58 | ||||
| PINELAKE | 0.13 | 0.13 | 0.13 | 0.15 | -0.20 | ||
| $6.57 | $6.57 | $6.57 | $6.59 | $5.26 | |||
| MASON CITY | 0.12 | 0.12 | 0.12 | 0.12 | -0.28 | ||
| $6.56 | $6.56 | $6.56 | $6.56 | $5.18 | |||
| . | . | . | . | . | |||
| CHARLES CITY | 0.16 | 0.16 | 0.16 | 0.18 | -0.25 | ||
| 6.60 | $6.60 | $6.60 | $6.62 | $5.21 | |||
| HANLONTOWN | 0.13 | 0.13 | 0.16 | 0.18 | -0.30 | ||
| $6.57 | $6.57 | 6.6 | $6.62 | $5.16 | |||
| SOYBEANS | |||||||
| APR | MAY | JUNE | JULY | NC21 | |||
| Bman/Crad/ | 0.05 | 0.05 | 0.05 | 0.00 | -0.65 | ||
| Gbrook/GrnMt/Midway | $15.19 | $15.19 | $15.19 | $15.14 | $12.63 | ||
| Lisc/Haverhill | 0.15 | 0.15 | 0.15 | 0.10 | -0.65 | ||
| $15.29 | $15.29 | $15.29 | $15.24 | $12.63 | |||
| CedarF/Jesup/Hud/LaPo | 0.00 | 0.00 | 0.00 | -0.05 | -0.65 | ||
| $15.14 | $15.14 | $15.14 | $15.09 | $12.63 | |||
| IOWA FALLS | 0.35 | 0.35 | 0.35 | 0.35 | -0.40 | ||
| $15.49 | $15.49 | $15.49 | $15.49 | $12.88 | |||
| CEDAR RAPIDS | 0.35 | 0.35 | 0.35 | 0.35 | -0.40 | ||
| $15.49 | $15.49 | $15.49 | $15.49 | $12.88 | |||
| DES MOINES | 0.55 | 0.55 | 0.55 | 0.40 | -0.40 | ||
| $15.69 | $15.69 | $15.69 | $15.54 | $12.88 | |||
| AGP | 0.25 | 0.25 | |||||
| $15.39 | $15.39 | $15.14 |
The information contained in this email is believed to be reliable but is not guaranteed to accuracy or completeness by MID IOWA COOPERATIVE. This is provided for informational purposes only and is not furnished for the purpose of, nor intended to be relied upon for specific trading in commodities. Bids are to be used as a reference only. Prices may change at any time without notice. Please call a Mid Iowa Coop location for updated bids.