Daily Commentary
Friday May 21st
Corn: -5 to -5 ½
The corn market spent much of the day trading lower before ending with a modest loss. Both the July and December contracts lost nearly a nickel on the day in what was a quiet trade. For the week July futures gain nearly 16 cents with the December contract gaining nearly 4 cents. Beneficial rains have fallen across much of the Western corn belt this week, helping to keep any rebound from last week’s selloff in check. Monday will bring the updated planting progress report with the trade expecting corn planting near 90%. The strong early planting pace will leave the market wondering what the planted acreage will be reported at in the June 30th update.
Soybeans: -7 to -7 ¼
Soybeans traded both sides of unchanged through the session before finishing with a moderate loss. Both the nearby and new crop values ended near 7 cents lower on light fund selling. Soybean products were also lower with both meal and soy oil posting small losses. Soybeans were pressured much of the week with old crop values off 60 cents with new crop losing 40 cents. Weakness in the cash markets has weighed on the soy complex this week with basis values falling throughout the belt. Deferred crush margins in China have turned negative, keeping them out of the new crop market for much of the week.
| Processor Bids and Hours are subject to change, please call before hauling | |||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN |
| ADM CR | 5-7 | 5-12 | 7-12 | 7-12 | |||
| EDDYVILLE | 6-5 | 6-5 | |||||
| STARCH | 7-3 | 7-3 | |||||
| PENFORD | 730-11 | 730-11 | |||||
| FORT DODGE | 7-430 | 7-430 | |||||
| JEWELL | 730-4 | 730-4 | |||||
| SEABOARD | |||||||
| FAIRBANK / FH | CLOSED | CLOSED | |||||
| IOWA FALLS / FH | 7-5 | 7-5 | |||||
| SHELLROCK / FH | |||||||
| LINCOLN WAY | 8-4 | 8-4 | |||||
| PINELAKE | |||||||
| IOWA FALLS/CARGIL | APPT | APPT | |||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | |||||
| ADM DM | 6-6 | 6-6 | 7-3 | CLOSED | |||
| AGP EAGLE GROVE | |||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/10/2021 | 20.90% | ||
| JULY 21 | $6.59 | $15.26 | |||||
| DEC / NOV 21 | $5.46 | $13.60 | |||||
| MAR 22 | $5.53 | – | |||||
| JAN 22 | – | $13.60 | |||||
| CORN | |||||||
| MAY | JUNE | JULY | NC21 | JAN | |||
| Bman/Crad/Gbrook | 0.10 | 0.10 | 0.10 | -0.30 | -0.35 | ||
| GrnMt/Mill Junc | $6.69 | $6.69 | $6.69 | $5.16 | $5.18 | ||
| Liscomb | 0.10 | 0.10 | 0.10 | -0.30 | -0.30 | ||
| $6.69 | $6.69 | $6.69 | $5.16 | $5.23 | |||
| Haverhill | 0.15 | 0.15 | 0.15 | -0.30 | -0.35 | ||
| $6.74 | $6.74 | $6.74 | $5.16 | $5.18 | |||
| Midway | 0.15 | 0.15 | 0.15 | -0.30 | -0.35 | ||
| $6.74 | $6.74 | $6.74 | $5.16 | $5.18 | |||
| Hudson/LaPorte | 0.12 | 0.12 | 0.12 | -0.30 | -0.35 | ||
| $6.71 | $6.74 | $6.71 | $5.16 | $5.18 | |||
| Cedar Falls | 0.15 | 0.15 | 0.15 | -0.30 | -0.30 | ||
| $6.74 | $6.74 | $6.74 | $5.16 | $5.23 | |||
| Jesup | 0.22 | 0.22 | 0.22 | -0.25 | -0.25 | ||
| $6.81 | $6.81 | $6.81 | $5.21 | $5.28 | |||
| EDDYVILLE | 0.30 | 0.35 | 0.45 | -0.20 | -0.14 | ||
| $6.89 | $6.94 | $7.04 | $5.26 | $5.39 | |||
| CEDAR RAPIDS | 0.40 | 0.45 | 0.45 | -0.15 | -0.14 | ||
| $6.99 | $7.04 | $7.04 | $5.31 | $5.39 | |||
| FORT DODGE | 0.40 | 0.42 | 0.45 | 0.05 | 0.05 | ||
| $6.99 | $7.01 | $7.04 | $5.51 | $5.58 | |||
| JEWELL | 0.18 | 0.30 | 0.33 | -0.26 | -0.24 | ||
| $6.77 | $6.89 | $6.92 | $5.20 | $5.29 | |||
| FAIRBANK | 0.30 | 0.30 | 0.30 | -0.25 | -0.25 | ||
| $6.89 | $6.89 | $6.89 | $5.21 | $5.28 | |||
| SEABOARD | 0.40 | 0.40 | -0.20 | ||||
| $6.99 | $6.99 | $5.26 | |||||
| IOWA FALLS | 0.30 | 0.30 | 0.35 | -0.25 | -0.30 | ||
| $6.89 | $6.89 | $6.94 | $5.21 | $5.23 | |||
| SHELLROCK | 0.30 | 0.30 | 0.35 | -0.25 | -0.25 | ||
| $6.89 | $6.89 | $6.94 | $5.21 | $5.28 | |||
| LINCOLNWAY | 0.28 | 0.34 | 0.34 | -0.24 | -0.23 | ||
| $6.87 | $6.93 | $6.93 | $5.22 | $5.30 | |||
| SINCLAIR | 0.22 | 0.25 | 0.25 | -0.28 | -0.25 | ||
| $6.81 | $6.84 | $6.84 | $5.18 | $5.28 | |||
| PINELAKE | 0.30 | 0.30 | 0.35 | -0.20 | -0.18 | ||
| $6.89 | $6.89 | $6.94 | $5.26 | $5.35 | |||
| MASON CITY | 0.30 | 0.30 | 0.30 | -0.28 | |||
| $6.89 | $6.89 | $6.89 | 5.18 | ||||
| . | . | . | . | . | |||
| CHARLES CITY | 0.28 | 0.28 | 0.30 | -0.20 | -0.35 | ||
| $6.87 | $6.87 | $6.89 | $5.26 | $5.18 | |||
| HANLONTOWN | 0.15 | 0.21 | 0.25 | -0.30 | -0.32 | ||
| $6.74 | 6.8 | $6.84 | $5.16 | $5.21 | |||
| SOYBEANS | |||||||
| MAY | JUNE | JULY | NC21 | JAN | |||
| Bman/Crad/ | -0.05 | -0.05 | -0.05 | -0.65 | -0.65 | ||
| Gbrook/GrnMt/Midway | $15.21 | $15.21 | $15.21 | $12.95 | $12.95 | ||
| Lisc/Haverhill | 0.05 | 0.05 | 0.05 | -0.65 | -0.65 | ||
| $15.31 | $15.26 | $15.31 | $12.95 | $12.95 | |||
| CedarF/Jesup/Hud/LaPo | -0.05 | -0.05 | -0.05 | -0.65 | -0.65 | ||
| $15.21 | $15.21 | $15.21 | $12.95 | $12.95 | |||
| IOWA FALLS | -0.05 | 0.10 | 0.20 | -0.40 | -0.25 | ||
| $15.21 | $15.36 | $15.46 | $13.20 | $13.35 | |||
| CEDAR RAPIDS | 0.00 | 0.10 | 0.20 | -0.40 | -0.25 | ||
| $15.26 | $15.36 | $15.46 | $13.20 | $13.35 | |||
| DES MOINES | 0.25 | 0.25 | 0.20 | -0.40 | -0.30 | ||
| $15.51 | $15.51 | $15.46 | $13.20 | $13.30 | |||
| AGP | -0.25 | -0.25 | |||||
| $15.01 | $15.01 | $15.26 |
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.