Daily Commentary
Thursday May 20th
Corn: +6 ¼ to +13
The corn market had a solid day with values ending moderately higher. Nearby values gained just over 6 cents on the day after trading in a range of nearly 15 cents. Corn spreads turned weaker today with the December contract finishing 13 cents higher. Weekly export sales of just 10.9 million old crop bushels were disappointing but new crop bookings of nearly 160 million bushels was impressive. The USDA did announce another new crop booking to China in the morning release bringing their total new crop bookings to nearly 11 mmt. South American conditions remained mixed with thoughts that the production losses have at least stabilized at this point.
Soybeans: -5 to -1 ½
Soybeans traded both sides of unchanged through the session before ending with small losses. Nearby values ended the day a nickel lower after trading within yesterday’s range through the day. New crop values fared better, losing just over a penny on the day. Soybean products were also lower on the day with nearby meal testing the $400 level. Soybean weekly exports totaled just over 3 million bushels. This was within expectations and at the level needed to meet the current USDA estimate. Soybean basis levels have been pressure lately but crush margins do remain quite strong.
| Processor Bids and Hours are subject to change, please call before hauling | |||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN |
| ADM CR | 5-12 | 5-12 | 5-12 | ||||
| EDDYVILLE | 6-5 | ||||||
| STARCH | 7-10 | ||||||
| PENFORD | 730-10 | ||||||
| FORT DODGE | 7-1 | ||||||
| JEWELL | 730-4 | ||||||
| SEABOARD | |||||||
| FAIRBANK / FH | CLOSED | ||||||
| IOWA FALLS / FH | 7-5 | ||||||
| SHELLROCK / FH | 7-5 | ||||||
| LINCOLN WAY | CLOSED | ||||||
| PINELAKE | |||||||
| IOWA FALLS/CARGIL | CLOSED | ||||||
| CEDAR RAPIDS/CARGIL | APPT | ||||||
| ADM DM | 6-6 | 7-3 | CLOSED | ||||
| AGP EAGLE GROVE | |||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/10/2021 | 20.90% | ||
| JULY 21 | $6.64 | $15.33 | |||||
| DEC / NOV 21 | $5.52 | $13.68 | |||||
| MAR 22 | $5.58 | – | |||||
| JAN 22 | – | $13.67 | |||||
| CORN | |||||||
| MAY | JUNE | JULY | NC21 | JAN | |||
| Bman/Crad/Gbrook | 0.08 | 0.08 | 0.08 | -0.30 | -0.35 | ||
| GrnMt/Mill Junc | $6.72 | $6.72 | $6.72 | $5.22 | $5.23 | ||
| Liscomb | 0.08 | 0.08 | 0.08 | -0.30 | -0.30 | ||
| $6.72 | $6.72 | $6.72 | $5.22 | $5.28 | |||
| Haverhill | 0.12 | 0.12 | 0.12 | -0.30 | -0.35 | ||
| $6.76 | $6.76 | $6.76 | $5.22 | $5.23 | |||
| Midway | 0.10 | 0.10 | 0.10 | -0.30 | -0.35 | ||
| $6.74 | $6.74 | $6.74 | $5.22 | $5.23 | |||
| Hudson/LaPorte | 0.08 | 0.10 | 0.08 | -0.30 | -0.35 | ||
| $6.72 | $6.74 | $6.72 | $5.22 | $5.23 | |||
| Cedar Falls | 0.10 | 0.10 | 0.10 | -0.30 | -0.30 | ||
| $6.74 | $6.74 | $6.74 | $5.22 | $5.28 | |||
| Jesup | 0.17 | 0.17 | 0.17 | -0.25 | -0.25 | ||
| $6.81 | $6.81 | $6.81 | $5.27 | $5.33 | |||
| EDDYVILLE | 0.30 | 0.35 | 0.45 | -0.20 | -0.14 | ||
| $6.94 | $6.99 | $7.09 | $5.32 | $5.44 | |||
| CEDAR RAPIDS | 0.40 | 0.50 | 0.45 | -0.15 | -0.14 | ||
| $7.04 | $7.14 | $7.09 | $5.37 | $5.44 | |||
| FORT DODGE | 0.40 | 0.42 | 0.45 | 0.05 | 0.05 | ||
| $7.04 | $7.06 | $7.09 | $5.57 | $5.63 | |||
| JEWELL | 0.18 | 0.30 | 0.33 | -0.26 | -0.24 | ||
| $6.82 | $6.94 | $6.97 | $5.26 | $5.34 | |||
| FAIRBANK | 0.30 | 0.30 | 0.30 | -0.25 | -0.25 | ||
| $6.94 | $6.94 | $6.94 | $5.27 | $5.33 | |||
| SEABOARD | 0.40 | 0.40 | -0.20 | ||||
| $7.04 | $7.04 | $5.32 | |||||
| IOWA FALLS | 0.25 | 0.25 | 0.30 | -0.25 | -0.30 | ||
| $6.89 | $6.89 | $6.94 | $5.27 | $5.28 | |||
| SHELLROCK | 0.28 | 0.28 | 0.30 | -0.25 | -0.25 | ||
| $6.92 | $6.92 | $6.94 | $5.27 | $5.33 | |||
| LINCOLNWAY | 0.28 | 0.34 | 0.34 | -0.24 | -0.23 | ||
| $6.92 | $6.98 | $6.98 | $5.28 | $5.35 | |||
| SINCLAIR | 0.22 | 0.25 | 0.25 | -0.28 | -0.25 | ||
| $6.86 | $6.89 | $6.89 | $5.24 | $5.33 | |||
| PINELAKE | 0.25 | 0.25 | 0.28 | -0.20 | -0.18 | ||
| $6.89 | $6.89 | $6.92 | $5.32 | $5.40 | |||
| MASON CITY | 0.30 | 0.30 | 0.30 | -0.28 | |||
| $6.94 | $6.94 | $6.94 | 5.24 | ||||
| . | . | . | . | . | |||
| CHARLES CITY | 0.28 | 0.28 | 0.30 | -0.20 | -0.35 | ||
| $6.92 | $6.92 | $6.94 | $5.32 | $5.23 | |||
| HANLONTOWN | 0.15 | 0.21 | 0.25 | -0.30 | -0.32 | ||
| $6.79 | 6.85 | $6.89 | $5.22 | $5.26 | |||
| SOYBEANS | |||||||
| MAY | JUNE | JULY | NC21 | JAN | |||
| Bman/Crad/ | -0.05 | -0.05 | -0.05 | -0.65 | -0.65 | ||
| Gbrook/GrnMt/Midway | $15.28 | $15.28 | $15.28 | $13.03 | $13.02 | ||
| Lisc/Haverhill | 0.05 | 0.05 | 0.05 | -0.65 | -0.65 | ||
| $15.38 | $15.38 | $15.38 | $13.03 | $13.02 | |||
| CedarF/Jesup/Hud/LaPo | -0.05 | -0.05 | -0.05 | -0.65 | -0.65 | ||
| $15.28 | $15.28 | $15.28 | $13.03 | $13.02 | |||
| IOWA FALLS | -0.05 | 0.10 | 0.20 | -0.40 | -0.25 | ||
| $15.28 | $15.43 | $15.53 | $13.28 | $13.42 | |||
| CEDAR RAPIDS | 0.00 | 0.10 | 0.20 | -0.40 | -0.25 | ||
| $15.33 | $15.43 | $15.53 | $13.28 | $13.42 | |||
| DES MOINES | 0.35 | 0.35 | 0.30 | -0.40 | -0.30 | ||
| $15.68 | $15.68 | $15.63 | $13.28 | $13.37 | |||
| AGP | -0.25 | -0.25 | |||||
| $15.08 | $15.08 | $15.33 | |||||
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.