Daily Commentary
Tuesday May 18th
Corn: +5 ¾ to +6
The corn market closed with moderate gains today after trading higher much of the session. Both the July and December contracts finished near 6 cents higher but well off the early high. Strong cash levels remain supportive along with the continued dryness plaguing parts of Brazil. Yesterday’s progress report showed 80% of the corn planted. This was ahead of the average pace but was somewhat behind what many in the trade were expecting to see. The USDA did again announce a new crop corn sale to China this morning but that did not appear to be a surprise to the market.
Soybeans: -13 ¼ to +2 ½
Soybeans ended the day mixed after trading both sides of unchanged through the day. Nearby soybeans ended just over 13 cents lower after selling off mid-day. New crop values were just a couple cents strong today, ending nearly 15 cents off the early high. Soybean products were lower on the day with soy oil closing lower after making a new high early in the session. Soybean basis continues to erode at the processor level throughout the both the Eastern and Western belt. Soybean planting progress was reported at 61% complete in yesterday’s update, very near what the trade had expected.
| 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 | 5-7 | 5-12 | 5-12 | ||
| EDDYVILLE | 6-5 | ||||||
| STARCH | CLOSED | ||||||
| PENFORD | WAXY | 730-10 | 730-10 | ||||
| FORT DODGE | 7-2 | 7-1 | 7-12 | ||||
| JEWELL | CLOSED | 7:30-4 | 7:30-4 | ||||
| SEABOARD | |||||||
| FAIRBANK / FH | CLOSED | CLOSED | CLOSED | ||||
| IOWA FALLS / FH | 7-5 | 7-5 | 7-5 | ||||
| SHELLROCK / FH | 7-12 | ||||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | ||||
| PINELAKE | |||||||
| IOWA FALLS/CARGIL | CLOSED | CLOSED | CLOSED | ||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | APPT | ||||
| ADM DM | 6-6 | 6-6 | 6-6 | 7-3 | CLOSED | ||
| AGP EAGLE GROVE | |||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/10/2021 | 20.90% | ||
| AUG 20 | – | – | |||||
| SEP 20 | – | – | |||||
| DEC / NOV 20 | – | – | |||||
| JAN 21 | – | #REF! | |||||
| MAR 21 | #REF! | #REF! | |||||
| MAY21 | $0.00 | $0.00 | |||||
| JULY 21 | $6.58 | $15.74 | |||||
| DEC / NOV 21 | $5.43 | $13.99 | |||||
| CORN | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/Gbrook | 0.08 | 0.08 | 0.08 | -0.30 | |||
| GrnMt/Mill Junc | $6.66 | $6.66 | $6.66 | $5.13 | |||
| Liscomb | 0.08 | 0.08 | 0.08 | -0.30 | |||
| $6.66 | $6.66 | $6.66 | $5.13 | ||||
| Haverhill | 0.12 | 0.12 | 0.12 | -0.30 | |||
| $6.70 | $6.70 | $6.70 | $5.13 | ||||
| Midway | 0.10 | 0.10 | 0.10 | -0.30 | |||
| $6.68 | $6.68 | $6.68 | $5.13 | ||||
| Hudson/LaPorte | 0.08 | 0.10 | 0.08 | -0.30 | |||
| $6.66 | $6.68 | $6.66 | $5.13 | ||||
| Cedar Falls | 0.10 | 0.10 | 0.10 | -0.30 | |||
| $6.68 | $6.68 | $6.68 | $5.13 | ||||
| Jesup | 0.17 | 0.17 | 0.17 | -0.25 | |||
| $6.75 | $6.75 | $6.75 | $5.18 | ||||
| EDDYVILLE | 0.30 | 0.40 | 0.45 | -0.20 | |||
| $6.88 | $6.98 | $7.03 | $5.23 | ||||
| CEDAR RAPIDS | 0.36 | 0.45 | 0.45 | -0.20 | |||
| $6.94 | $7.03 | $7.03 | $5.23 | ||||
| FORT DODGE | 0.40 | 0.40 | 0.42 | -0.15 | |||
| $6.98 | $6.98 | $7.00 | $5.28 | ||||
| JEWELL | 0.18 | 0.30 | 0.30 | -0.26 | |||
| $6.76 | $6.88 | $6.88 | $5.17 | ||||
| FAIRBANK | 0.30 | 0.30 | 0.30 | -0.25 | |||
| $6.88 | $6.88 | $6.88 | $5.18 | ||||
| SEABOARD | 0.25 | 0.3 | -0.20 | ||||
| $6.83 | $6.88 | $5.23 | |||||
| IOWA FALLS | 0.25 | 0.25 | 0.30 | -0.25 | |||
| $6.83 | $6.83 | $6.88 | $5.18 | ||||
| SHELLROCK | 0.28 | 0.28 | 0.30 | -0.25 | |||
| $6.86 | $6.86 | $6.88 | $5.18 | ||||
| LINCOLNWAY | 0.30 | 0.34 | 0.34 | -0.24 | |||
| $6.88 | $6.92 | $6.92 | $5.19 | ||||
| SINCLAIR | 0.22 | 0.25 | 0.25 | -0.28 | |||
| $6.80 | $6.83 | $6.83 | $5.15 | ||||
| PINELAKE | 0.25 | 0.25 | 0.28 | -0.20 | |||
| $6.83 | $6.83 | $6.86 | $5.23 | ||||
| MASON CITY | 0.23 | 0.23 | 0.23 | -0.28 | |||
| $6.81 | $6.81 | $6.81 | 5.15 | ||||
| . | . | . | . | . | |||
| CHARLES CITY | 0.28 | 0.28 | 0.30 | -0.20 | |||
| $6.86 | $6.86 | $6.88 | $5.23 | ||||
| HANLONTOWN | 0.15 | 0.21 | 0.25 | -0.30 | |||
| $6.73 | 6.79 | $6.83 | $5.13 | ||||
| SOYBEANS | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/ | 0.00 | 0.00 | 0.00 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.74 | $15.74 | $15.74 | $13.34 | |||
| Lisc/Haverhill | 0.05 | 0.05 | 0.05 | -0.65 | |||
| $15.79 | $15.79 | $15.79 | $13.34 | ||||
| CedarF/Jesup/Hud/LaPo | 0.00 | 0.00 | 0.00 | -0.65 | |||
| $15.74 | $15.74 | $15.74 | $13.34 | ||||
| IOWA FALLS | 0.30 | 0.40 | 0.40 | -0.40 | |||
| $16.04 | $16.14 | $16.14 | $13.59 | ||||
| CEDAR RAPIDS | 0.20 | 0.30 | 0.40 | -0.40 | |||
| $15.94 | $16.04 | $16.14 | $13.59 | ||||
| DES MOINES | 0.45 | 0.45 | 0.30 | -0.40 | |||
| $16.19 | $16.19 | $16.04 | $13.59 | ||||
| AGP | -0.25 | -0.25 | |||||
| $15.49 | $15.49 | $15.74 |
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.