Daily Commentary
Monday May 24th
Corn: -2 ¼ to -6 ¼
The corn market traded lower throughout the session and ended with modest losses. July futures lost just over 2 cents on the day while finishing 12 cents above overnight low. Corn spreads were firmer on the day with the December contract losing just over 6 cents. Improving US weather conditions weighed on today’s trade as adequate moisture along with warmer conditions were seen across much of the corn belt. Weekly export inspections of 68 million bushels were down solidly from last week but still above the level needed to meet the USDA’s goal. China was again the lead destination of US corn.
Soybeans: -3 ½ to +1 ¾
Soybeans traded lower for much of the session before ending mixed. Nearby soybeans finished the day just over 3 cents lower after trading in nearly a 20-cent range. New crop values finished just over a penny higher as soybean spreads turned weaker. Soy products were mixed on the day with soybean meal ending with a small gain. Weekly soybean export loadings were near expectations at just over 7 million bushels. South American soybean crop estimates continue to grow with deferred Chinese demand remaining soft.
| Processor Bids and Hours are subject to change, please call before hauling | |||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN |
| ADM CR | 5-12 | 5-7 | |||||
| EDDYVILLE | 6-5 | ||||||
| STARCH | 7-3 | ||||||
| PENFORD | 730-10 | TBD | |||||
| FORT DODGE | 7-3 | 7-3 | |||||
| JEWELL | 730-4 | 730-4 | |||||
| SEABOARD | |||||||
| FAIRBANK / FH | CLOSED | ||||||
| IOWA FALLS / FH | 7-5 | 7-5 | |||||
| SHELLROCK / FH | TBD | ||||||
| LINCOLN WAY | 8-4 | 8-4 | |||||
| PINELAKE | |||||||
| IOWA FALLS/CARGIL | APPT | APPT | |||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | |||||
| ADM DM | 6-6 | 6-6 | |||||
| AGP EAGLE GROVE | |||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/24/2021 | 20.90% | ||
| JULY 21 | $6.57 | $15.23 | |||||
| DEC / NOV 21 | $5.40 | $13.62 | |||||
| MAR 22 | $5.46 | – | |||||
| JAN 22 | – | $13.63 | |||||
| CORN | |||||||
| MAY | JUNE | JULY | NC21 | JAN | |||
| Bman/Crad/Gbrook | 0.10 | 0.10 | 0.10 | -0.30 | -0.35 | ||
| GrnMt/Mill Junc | $6.67 | $6.67 | $6.67 | $5.10 | $5.11 | ||
| Liscomb | 0.10 | 0.10 | 0.10 | -0.30 | -0.30 | ||
| $6.67 | $6.67 | $6.67 | $5.10 | $5.16 | |||
| Haverhill | 0.17 | 0.17 | 0.17 | -0.30 | -0.35 | ||
| $6.74 | $6.74 | $6.74 | $5.10 | $5.11 | |||
| Midway | 0.15 | 0.15 | 0.15 | -0.30 | -0.35 | ||
| $6.72 | $6.72 | $6.72 | $5.10 | $5.11 | |||
| Hudson/LaPorte | 0.12 | 0.12 | 0.12 | -0.30 | -0.35 | ||
| $6.69 | $6.72 | $6.69 | $5.10 | $5.11 | |||
| Cedar Falls | 0.15 | 0.15 | 0.15 | -0.30 | -0.30 | ||
| $6.72 | $6.72 | $6.72 | $5.10 | $5.16 | |||
| Jesup | 0.22 | 0.22 | 0.22 | -0.25 | -0.25 | ||
| $6.79 | $6.79 | $6.79 | $5.15 | $5.21 | |||
| EDDYVILLE | 0.30 | 0.35 | 0.45 | -0.20 | -0.14 | ||
| $6.87 | $6.92 | $7.02 | $5.20 | $5.32 | |||
| CEDAR RAPIDS | 0.40 | 0.45 | 0.45 | -0.15 | -0.14 | ||
| $6.97 | $7.02 | $7.02 | $5.25 | $5.32 | |||
| FORT DODGE | 0.40 | 0.42 | 0.45 | 0.05 | 0.05 | ||
| $6.97 | $6.99 | $7.02 | $5.45 | $5.51 | |||
| JEWELL | 0.18 | 0.25 | 0.30 | -0.26 | -0.24 | ||
| $6.75 | $6.82 | $6.87 | $5.14 | $5.22 | |||
| FAIRBANK | 0.30 | 0.35 | 0.35 | -0.25 | -0.25 | ||
| $6.87 | $6.92 | $6.92 | $5.15 | $5.21 | |||
| SEABOARD | 0.40 | 0.40 | -0.20 | ||||
| $6.97 | $6.97 | $5.20 | |||||
| IOWA FALLS | 0.30 | 0.30 | 0.35 | -0.25 | -0.30 | ||
| $6.87 | $6.87 | $6.92 | $5.15 | $5.16 | |||
| SHELLROCK | 0.30 | 0.30 | 0.35 | -0.25 | -0.25 | ||
| $6.87 | $6.87 | $6.92 | $5.15 | $5.21 | |||
| LINCOLNWAY | 0.28 | 0.34 | 0.34 | -0.24 | -0.23 | ||
| $6.85 | $6.91 | $6.91 | $5.16 | $5.23 | |||
| SINCLAIR | 0.22 | 0.25 | 0.25 | -0.28 | -0.25 | ||
| $6.79 | $6.82 | $6.82 | $5.12 | $5.21 | |||
| PINELAKE | 0.30 | 0.30 | 0.35 | -0.20 | -0.18 | ||
| $6.87 | $6.87 | $6.92 | $5.20 | $5.28 | |||
| MASON CITY | 0.30 | 0.30 | 0.30 | -0.28 | |||
| $6.87 | $6.87 | $6.87 | 5.12 | ||||
| . | . | . | . | . | |||
| CHARLES CITY | 0.28 | 0.28 | 0.30 | -0.20 | -0.35 | ||
| $6.85 | $6.85 | $6.87 | $5.20 | $5.11 | |||
| HANLONTOWN | 0.15 | 0.21 | 0.25 | -0.30 | -0.32 | ||
| $6.72 | 6.78 | $6.82 | $5.10 | $5.14 | |||
| SOYBEANS | |||||||
| MAY | JUNE | JULY | NC21 | JAN | |||
| Bman/Crad/ | -0.05 | -0.05 | -0.05 | -0.65 | -0.65 | ||
| Gbrook/GrnMt/Midway | $15.18 | $15.18 | $15.18 | $12.97 | $12.98 | ||
| Lisc/Haverhill | 0.05 | 0.05 | 0.05 | -0.65 | -0.65 | ||
| $15.28 | $15.23 | $15.28 | $12.97 | $12.98 | |||
| CedarF/Jesup/Hud/LaPo | -0.05 | -0.05 | -0.05 | -0.65 | -0.65 | ||
| $15.18 | $15.18 | $15.18 | $12.97 | $12.98 | |||
| IOWA FALLS | -0.05 | 0.10 | 0.20 | -0.40 | -0.25 | ||
| $15.18 | $15.33 | $15.43 | $13.22 | $13.38 | |||
| CEDAR RAPIDS | 0.00 | 0.10 | 0.20 | -0.40 | -0.25 | ||
| $15.23 | $15.33 | $15.43 | $13.22 | $13.38 | |||
| DES MOINES | 0.25 | 0.25 | 0.20 | -0.40 | -0.30 | ||
| $15.48 | $15.48 | $15.43 | $13.22 | $13.33 | |||
| AGP | -0.25 | -0.25 | |||||
| $14.98 | $14.98 | $15.23 | |||||
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.