Daily Commentary
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Thursday January 13th
Corn: -11 ½
The corn market traded lower throughout much of today’s session before ending with a sharp loss. March futures ended the day over 11 cents lower after just briefly trading higher overnight. Yesterday’s WASDE report provided little support with the USDA only making a small downward revision to exports. The market was probably more likely expecting a cut to feed demand, but exports do also appear in question. Improved weather forecasts for South America also weighed on today’s trade with better chances for precipitation seen in the 10-day forecast. Weekly export sales were also disappointing at just 18 million bushels.
Soybeans: -22
Soybeans were also under pressure throughout the day with values fading after the morning reopen. March soybeans finished 22 cents lower on the day, posting the lowest close in a week. Soybean products were also weaker with both meal and oil posting a sharp loss. Soybean export sales were also disappointing in this morning’s weekly report at 27 million bushels. This was up from last week, but overall sales would indicate that the USDA should have probably lowered their export forecast yesterday. The better chances for rain in Brazil and Argentina are encouraging but the market will debate the benefits at this point.
| 1/13/2022 | ||||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | ||||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | |||||
| ADM CR | 5-7 | 5-2 | 5-5 | 5-5 | ||||||||
| EDDYVILLE | 6-5 | 6-9 | ||||||||||
| STARCH | 7-3 | 7-9 | CLOSED | |||||||||
| PENFORD | 7-2:30 | 7:30-11 | ||||||||||
| FORT DODGE | 7-4 | 7-4 | ||||||||||
| JEWELL | 7:30-4 | 7:30-4 | ||||||||||
| SEABOARD | 6-4:30 | 6-4:30 | ||||||||||
| FAIRBANK / POET | closed | CLOSED | ||||||||||
| IOWA FALLS / POET | 7-3 | 7-12 | ||||||||||
| SHELLROCK / POET | 7-5 | 7-5 | ||||||||||
| LINCOLN WAY | 8-4 | 8-4 | ||||||||||
| PINELAKE | 7:30-4:15 | 7:30-4:15 | ||||||||||
| IOWA FALLS/CARGIL | 6-5 | CLOSED | CLOSED | |||||||||
| CEDAR RAPIDS/CARGIL | 6-5 | 6-5 | CLOSED | |||||||||
| ADM DM | 6-6 | 6-6 | ||||||||||
| AGP EAGLE GROVE | ||||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 1/10/2022 | 26.80% | |||||||
| MAR 22 | $5.87 | $13.77 | ||||||||||
| MAY 22 | $5.89 | $13.87 | ||||||||||
| JUL 22 | $5.88 | $13.95 | ||||||||||
| DEC/NOV 22 | $5.58 | $13.04 | ||||||||||
| CORN | ||||||||||||
| JAN | FEB | MAR | APRIL | MAY | JUNE | JULY | NC22 | |||||
| Bman/Crad/Gbrook | -0.22 | -0.22 | -0.18 | -0.18 | -0.18 | -0.20 | -0.20 | -0.35 | ||||
| GrnMt/Mill Junc | $5.65 | $5.65 | $5.69 | $5.71 | $5.71 | $5.68 | $5.68 | $5.23 | ||||
| Liscomb | -0.20 | -0.20 | -0.17 | -0.17 | -0.17 | -0.20 | -0.20 | -0.35 | ||||
| $5.67 | $5.67 | $5.72 | $5.72 | $5.72 | $5.68 | $5.68 | $5.23 | |||||
| Haverhill | -0.22 | -0.22 | -0.18 | -0.18 | -0.18 | -0.20 | -0.20 | -0.35 | ||||
| $5.65 | $5.65 | $5.69 | $5.71 | $5.71 | $5.68 | $5.68 | $5.23 | |||||
| Midway | -0.20 | -0.20 | -0.18 | -0.18 | -0.18 | -0.20 | -0.20 | -0.35 | ||||
| $5.67 | $5.65 | $5.69 | $5.71 | $5.71 | $5.68 | $5.68 | $5.23 | |||||
| Hudson/LaPorte | -0.20 | -0.20 | -0.20 | -0.18 | -0.18 | -0.20 | -0.20 | -0.35 | ||||
| $5.67 | $5.67 | $5.67 | $5.71 | $5.71 | $5.68 | $5.68 | $5.23 | |||||
| Cedar Falls | -0.20 | -0.20 | -0.12 | -0.18 | -0.18 | -0.20 | -0.20 | -0.35 | ||||
| $5.67 | $5.67 | $5.75 | $5.71 | $5.71 | $5.68 | $5.68 | $5.23 | |||||
| Jesup | -0.15 | -0.12 | -0.10 | -0.18 | -0.12 | -0.10 | -0.10 | -0.30 | ||||
| $5.72 | $5.67 | $5.77 | $5.71 | $5.77 | $5.78 | $5.78 | $5.28 | |||||
| EDDYVILLE | -0.03 | 0.02 | 0.05 | 0.04 | 0.05 | 0.03 | 0.03 | -0.30 | ||||
| $5.84 | $5.89 | $5.92 | $5.93 | $5.94 | $5.91 | $5.91 | $5.28 | |||||
| CEDAR RAPIDS | 0.04 | 0.04 | 0.05 | 0.06 | 0.07 | 0.05 | 0.04 | -0.25 | ||||
| $5.91 | $5.91 | $5.92 | $5.95 | $5.96 | $5.93 | $5.92 | $5.33 | |||||
| FORT DODGE | 0.15 | 0.17 | 0.20 | 0.15 | 0.10 | 0.18 | 0.18 | -0.15 | ||||
| $6.02 | $6.04 | $6.07 | $6.04 | $5.99 | $6.06 | $6.06 | $5.43 | |||||
| JEWELL | 0.06 | 0.10 | 0.10 | 0.07 | 0.07 | 0.00 | 0.00 | -0.30 | ||||
| $5.93 | $5.97 | $5.97 | $5.96 | $5.96 | $5.88 | $5.88 | $5.28 | |||||
| FAIRBANK | -0.10 | -0.07 | -0.03 | -0.10 | -0.10 | -0.10 | -0.10 | -0.25 | ||||
| $5.77 | $5.80 | $5.84 | $5.79 | $5.79 | $5.78 | $5.78 | $5.33 | |||||
| SEABOARD | 0.04 | 0.05 | 0.05 | |||||||||
| $5.91 | $5.94 | $5.94 | ||||||||||
| IOWA FALLS | -0.05 | 0.00 | 0.02 | 0.00 | 0.00 | -0.10 | -0.10 | -0.30 | ||||
| $5.82 | $5.87 | $5.89 | $5.89 | $5.89 | $5.78 | $5.78 | $5.28 | |||||
| SHELLROCK | -0.08 | 0.00 | -0.03 | -0.10 | -0.10 | -0.15 | -0.15 | -0.25 | ||||
| $5.79 | $5.87 | $5.84 | $5.79 | $5.79 | $5.73 | $5.73 | $5.33 | |||||
| LINCOLNWAY | -0.03 | 0.02 | 0.05 | 0.05 | 0.05 | 0.00 | 0.00 | -0.30 | ||||
| $5.84 | $5.89 | $5.92 | $5.94 | $5.94 | $5.88 | $5.88 | $5.28 | |||||
| SINCLAIR | -0.08 | -0.03 | -0.03 | -0.12 | -0.12 | -0.13 | -0.13 | -0.28 | ||||
| $5.79 | $5.84 | $5.84 | $5.77 | $5.77 | $5.75 | $5.75 | $5.30 | |||||
| PINELAKE | -0.05 | -0.03 | -0.04 | -0.07 | -0.07 | -0.05 | -0.01 | -0.30 | ||||
| $5.82 | $5.84 | $5.83 | $5.82 | $5.82 | $5.83 | $6.02 | $5.28 | |||||
| MASON CITY | -0.02 | -0.02 | -0.04 | |||||||||
| $5.85 | $5.85 | $5.83 | $5.58 | $5.58 | $0.00 | $0.00 | $0.00 | |||||
| . | . | . | ||||||||||
| CHARLES CITY | 0.00 | 0.04 | 0.06 | 0.02 | 0.02 | -0.03 | -0.03 | -0.20 | ||||
| $5.87 | $5.91 | $5.93 | $5.91 | $5.91 | $5.85 | $5.85 | $5.38 | |||||
| HANLONTOWN | -0.07 | -0.04 | -0.02 | -0.04 | -0.04 | -0.08 | -0.08 | -0.30 | ||||
| $5.80 | $5.83 | $5.85 | $5.85 | $5.85 | $5.80 | $5.80 | $5.28 | |||||
| SOYBEANS | ||||||||||||
| JAN | FEB | MAR | APRIL | MAY | JUNE | JULY | NC22 | |||||
| Bman/Crad/ | -0.65 | -0.60 | -0.50 | -0.50 | -0.50 | -0.53 | N | -0.61 | ||||
| Gbrook/GrnMt/Midway | $13.12 | $13.17 | $13.27 | $13.37 | $13.37 | $13.42 | $13.42 | $12.43 | ||||
| Lisc/Haverhill | -0.65 | -0.60 | -0.55 | -0.50 | -0.50 | -0.53 | 0.00 | -0.61 | ||||
| $13.12 | $13.17 | $13.22 | $13.37 | $13.37 | $13.42 | $0.00 | $12.43 | |||||
| CedarF/Jesup/Hud/LaPo | -0.80 | -0.60 | -0.60 | -0.55 | -0.60 | -0.53 | 0.00 | -0.61 | ||||
| $12.97 | $12.97 | $13.17 | $13.32 | $13.27 | $13.42 | $0.00 | $12.43 | |||||
| IOWA FALLS | -0.75 | -0.75 | -0.55 | -0.20 | -0.15 | -0.20 | -0.15 | -0.40 | ||||
| $13.02 | $13.02 | $13.22 | $13.67 | $13.72 | $13.75 | $13.80 | $12.64 | |||||
| CEDAR RAPIDS | -0.75 | -0.75 | -0.40 | -0.20 | -0.15 | -0.15 | -0.15 | -0.40 | ||||
| $13.02 | $13.02 | $13.37 | $13.67 | $13.72 | $13.80 | $13.80 | $12.64 | |||||
| DES MOINES | -0.30 | -0.25 | -0.20 | -0.20 | -0.15 | -0.15 | -0.15 | -0.40 | ||||
| $13.47 | $13.52 | $13.57 | $13.67 | $13.72 | $13.80 | $13.80 | $12.64 | |||||
| AGP | -0.50 | -0.40 | -0.40 | |||||||||
| $13.27 | $13.37 | $13.37 | ||||||||||
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.