Daily Commentary
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Monday February 7th
Corn: +14 ¾ to +7 ¼
The corn market was higher throughout the session today before ending with sharp gains. The March contract ended the day nearly 15 cents higher but did spend the session trading within last week’s range. New crop futures were 7 cents higher on the day and did make new contract highs. Heavy fund buying was reported today as corn found much of its strength spilling over from the soy complex. The morning export inspection report showed shipments of over 41 million bushels. This was up slightly from last week but still well below the level of a year ago. Corn exports do still have time to recover with the peak shipment season not yet upon us. The USDA will release the Feb supply and demand update Wednesday with the trade expecting just small revisions at this point.
Soybeans: +28 ¼ to +20 ¼
Soybeans continued their charge higher today with values sharply higher on the day. Nearby values finished the day over 28 cents higher after a gap higher open last night. The November contract finished over 20 cents higher while making a new contract high. Soybean products were mixed on the day with soybean meal continuing to lead the way. Traders continue to debate the crop size in South America with the market seemingly trying to price in losses of 20 mmt. The USDA will give us their updated projections in Wednesday’s update. Weekly soy shipments were as expected at nearly 45 million bushels. This was down from both last week and last year. The USDA did release a flash sale of both old and new crop soybean to an unknown destination in the morning release.
| 2/7/2022 | |||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | |||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | ||||
| ADM CR | 10-3 | 5-5 | 5-5 | 5-5 | 5-12 | 5-12 | |||||
| EDDYVILLE | 6-12 | ||||||||||
| STARCH | 7-3 | ||||||||||
| PENFORD | 7:30-2:30 | WAXY | |||||||||
| FORT DODGE | 7:30-4 | ||||||||||
| JEWELL | 7:30-4 | 7:30-4 | |||||||||
| SEABOARD | 6-4:30 | 6-4:30 | |||||||||
| FAIRBANK / POET | 7-5 | 7-5 | 7-5 | 7-5 | |||||||
| IOWA FALLS / POET | 7-5 | 7-5 | 7-5 | 7-5 | |||||||
| SHELLROCK / POET | 7-5 | 7-5 | 7-5 | 7-5 | |||||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | 8-4 | |||||||
| PINELAKE | 7:30-4:15 | 7:30-4:15 | 7:30-4:15 | 7:30-4:15 | |||||||
| IOWA FALLS/CARGIL | 6-5 | 6-5 | 6-5 | 6-5 | CLOSED | ||||||
| CEDAR RAPIDS/CARGIL | 6-5 | 6-5 | 6-5 | 6-5 | CLOSED | ||||||
| ADM DM | 6-6 | 6-6 | 6-6 | 6-6 | |||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 2/7/2022 | 30.40% | ||||||
| MAR 22 | $6.35 | $15.82 | |||||||||
| MAY 22 | $6.37 | $15.86 | |||||||||
| JUL 22 | $6.34 | $15.80 | |||||||||
| DEC/NOV 22 | $5.81 | $14.16 | |||||||||
| JAN (MAR/JAN) | $5.88 | $14.12 | |||||||||
| CORN | |||||||||||
| FEB | MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/Gbrook | -0.25 | -0.22 | -0.20 | -0.18 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| GrnMt/Mill Junc | $6.10 | $6.13 | $6.17 | $6.19 | $6.14 | $6.14 | $5.46 | $5.53 | |||
| Liscomb | -0.22 | -0.19 | -0.17 | -0.17 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.13 | $6.20 | $6.20 | $6.20 | $6.14 | $6.14 | $5.46 | $5.53 | ||||
| Haverhill | -0.22 | -0.18 | -0.18 | -0.18 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.13 | $6.17 | $6.19 | $6.19 | $6.14 | $6.14 | $5.46 | $5.53 | ||||
| Midway | -0.25 | -0.22 | -0.20 | -0.18 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.10 | $6.13 | $6.17 | $6.19 | $6.14 | $6.14 | $5.46 | $5.53 | ||||
| Hudson/LaPorte | -0.24 | -0.22 | -0.20 | -0.18 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.10 | $6.13 | $6.17 | $6.19 | $6.14 | $6.14 | $5.46 | $5.53 | ||||
| Cedar Falls | -0.16 | -0.16 | -0.20 | -0.15 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.10 | $6.19 | $6.17 | $6.22 | $6.14 | $6.14 | $5.46 | $5.53 | ||||
| Jesup | -0.16 | -0.16 | -0.16 | -0.12 | -0.10 | -0.10 | -0.30 | -0.35 | |||
| $6.19 | $6.19 | $6.21 | $6.25 | $6.24 | $6.24 | $5.51 | $5.53 | ||||
| EDDYVILLE | -0.06 | -0.03 | 0.06 | 0.06 | 0.03 | 0.03 | -0.30 | -0.22 | |||
| $6.29 | $6.32 | $6.43 | $6.43 | $6.37 | $6.37 | $5.51 | $5.66 | ||||
| CEDAR RAPIDS | -0.06 | 0.03 | 0.07 | 0.07 | 0.05 | 0.04 | -0.25 | -0.20 | |||
| $6.29 | $6.38 | $6.44 | $6.44 | $6.39 | $6.38 | $5.56 | $5.68 | ||||
| FORT DODGE | 0.10 | 0.13 | 0.18 | 0.18 | 0.18 | 0.18 | -0.15 | ||||
| $6.45 | $6.48 | $6.55 | $6.55 | $6.52 | $6.52 | $5.66 | |||||
| JEWELL | -0.02 | 0.00 | 0.07 | 0.07 | 0.00 | 0.00 | -0.28 | ||||
| $6.33 | $6.35 | $6.44 | $6.44 | $6.34 | $6.34 | $5.53 | |||||
| FAIRBANK | -0.12 | -0.10 | -0.07 | -0.07 | -0.10 | -0.10 | -0.25 | ||||
| $6.23 | $6.25 | $6.30 | $6.30 | $6.24 | $6.24 | $5.56 | |||||
| SEABOARD | 0.00 | 0.05 | 0.05 | ||||||||
| $6.35 | $6.42 | $6.42 | |||||||||
| IOWA FALLS | -0.04 | -0.04 | 0.00 | 0.00 | -0.10 | -0.10 | -0.30 | -0.30 | |||
| $6.31 | $6.31 | $6.37 | $6.37 | $6.24 | $6.24 | $5.51 | $5.58 | ||||
| SHELLROCK | -0.12 | -0.10 | -0.08 | -0.10 | -0.15 | -0.15 | -0.25 | ||||
| $6.23 | $6.25 | $6.29 | $6.27 | $6.19 | $6.19 | $5.56 | |||||
| LINCOLNWAY | -0.07 | -0.04 | 0.04 | 0.04 | 0.00 | 0.00 | -0.30 | -0.26 | |||
| $6.28 | $6.31 | $6.41 | $6.41 | $6.34 | $6.34 | $5.51 | $5.62 | ||||
| SINCLAIR | -0.08 | -0.08 | -0.12 | -0.12 | -0.13 | -0.13 | -0.28 | ||||
| $6.27 | $6.27 | $6.25 | $6.25 | $6.21 | $6.21 | $5.53 | |||||
| PINELAKE | -0.05 | -0.03 | -0.07 | -0.05 | -0.05 | -0.01 | -0.30 | -0.28 | |||
| $6.30 | $6.32 | $6.30 | $6.32 | $6.29 | $6.02 | $5.51 | $5.60 | ||||
| MASON CITY | -0.06 | -0.06 | -0.04 | -0.04 | -0.25 | ||||||
| $6.29 | $6.29 | $6.31 | $6.31 | $5.88 | $5.88 | $5.56 | |||||
| . | . | ||||||||||
| CHARLES CITY | -0.07 | -0.04 | 0.06 | 0.06 | 0.04 | 0.04 | -0.20 | ||||
| $6.28 | $6.31 | $6.43 | $6.43 | $6.38 | $6.38 | $5.61 | |||||
| HANLONTOWN | -0.09 | -0.06 | -0.04 | -0.04 | -0.08 | -0.08 | -0.30 | ||||
| $6.26 | $6.29 | $6.33 | $6.33 | $6.26 | $6.26 | $5.51 | |||||
| SOYBEANS | |||||||||||
| FEB | MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/ | -0.75 | -0.65 | -0.65 | -0.58 | -0.56 | -0.53 | -0.61 | -0.60 | |||
| Gbrook/GrnMt/Midway | $15.07 | $15.17 | $15.21 | $15.28 | $15.24 | $15.27 | $13.55 | $13.52 | |||
| Lisc/Haverhill | -0.70 | -0.65 | -0.65 | -0.58 | -0.56 | -0.53 | -0.61 | -0.60 | |||
| $15.12 | $15.17 | $15.21 | $15.28 | $15.24 | $15.27 | $13.55 | $13.52 | ||||
| CedarF/Jesup/Hud/LaPo | -0.65 | -0.65 | -0.65 | -0.60 | -0.56 | -0.53 | -0.61 | -0.60 | |||
| $15.02 | $15.17 | $15.21 | $15.26 | $15.24 | $15.27 | $13.55 | $13.52 | ||||
| IOWA FALLS | -0.75 | -0.65 | -0.45 | -0.25 | -0.35 | -0.25 | -0.35 | -0.20 | |||
| $15.07 | $15.17 | $15.41 | $15.61 | $15.45 | $15.55 | $13.81 | $13.92 | ||||
| CEDAR RAPIDS | -0.75 | -0.65 | -0.30 | -0.15 | -0.15 | -0.15 | -0.30 | -0.15 | |||
| $15.07 | $15.17 | $15.56 | $15.71 | $15.65 | $15.65 | $13.86 | $13.97 | ||||
| DES MOINES | -0.35 | -0.30 | -0.35 | -0.35 | -0.35 | -0.35 | -0.40 | -0.35 | |||
| $15.47 | $15.52 | $15.51 | $15.51 | $15.45 | $15.45 | $13.76 | $13.77 | ||||
| AGP | -0.45 | -0.40 | |||||||||
| $15.37 | $15.42 | ||||||||||
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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.