Daily Commentary
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Tuesday February 8th
Corn: -3 to +1
The corn market traded lower for much of the session before ending mixed on the day. Nearby values lost 3 cents on the day after trading in a range of nearly a dime. December futures finished a penny higher and posted a new high close. Corn spent the day caught between a lower soybean trade and a higher wheat market. Wheat turned higher on lower than expected stocks reported by Stats Canada. Tomorrow will bring the update USDA supply and demand numbers with traders expecting a small cut to ending stocks. Production cuts are likely to be seen from South America tomorrow too.
Soybeans: -12 ¾ to -3
Soybeans were also lower for much of the day and ended with moderate losses. March soybeans finished the day nearly 13 cents lower after failing to test yesterday’s high. New crop values fared better, ending with just a 3 cent loss. Soybean products were mixed on the day with meal able to post a small gain while soybean oil was under heavy pressure. The USDA did announce more flash sales this morning but both bookings were for new crop. The trade is looking for a slightly small soybean carryout in tomorrow’s update but the bigger numbers to watch are likely the adjustments that the USDA makes to South American production.
| 2/8/2022 | |||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | |||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | ||||
| ADM CR | 10-3 | 10-3 | 5-3 | 5-12 | 5-12 | ||||||
| EDDYVILLE | CLOSED | 6-3 | |||||||||
| STARCH | 7-11 | ||||||||||
| PENFORD | WAXY | CLOSED | 730-11 | ||||||||
| FORT DODGE | 7-4 | 7-4 | |||||||||
| JEWELL | 7:30-4 | ||||||||||
| SEABOARD | 6-4:30 | ||||||||||
| FAIRBANK / POET | 7-5 | 7-5 | 7-5 | ||||||||
| IOWA FALLS / POET | 7-5 | 7-5 | 7-5 | ||||||||
| SHELLROCK / POET | 7-5 | 7-5 | 7-5 | ||||||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | ||||||||
| PINELAKE | 7:30-4:15 | 7:30-4:15 | 7:30-4:15 | ||||||||
| IOWA FALLS/CARGIL | 6-5 | 6-5 | 6-5 | CLOSED | |||||||
| CEDAR RAPIDS/CARGIL | 6-5 | 6-5 | 6-5 | CLOSED | |||||||
| ADM DM | 6-6 | 6-6 | 6-6 | ||||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 2/7/2022 | 30.40% | ||||||
| MAR 22 | $6.32 | $15.69 | |||||||||
| MAY 22 | $6.34 | $15.72 | |||||||||
| JUL 22 | $6.30 | $15.68 | |||||||||
| DEC/NOV 22 | $5.82 | $14.13 | |||||||||
| JAN (MAR/JAN) | $5.89 | $14.10 | |||||||||
| 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 | $6.07 | $6.10 | $6.14 | $6.16 | $6.10 | $6.10 | $5.47 | $5.54 | |||
| Liscomb | -0.22 | -0.19 | -0.17 | -0.17 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.10 | $6.17 | $6.17 | $6.17 | $6.10 | $6.10 | $5.47 | $5.54 | ||||
| Haverhill | -0.22 | -0.18 | -0.18 | -0.18 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.10 | $6.14 | $6.16 | $6.16 | $6.10 | $6.10 | $5.47 | $5.54 | ||||
| Midway | -0.25 | -0.22 | -0.20 | -0.18 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.07 | $6.10 | $6.14 | $6.16 | $6.10 | $6.10 | $5.47 | $5.54 | ||||
| Hudson/LaPorte | -0.24 | -0.22 | -0.20 | -0.18 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.07 | $6.10 | $6.14 | $6.16 | $6.10 | $6.10 | $5.47 | $5.54 | ||||
| Cedar Falls | -0.16 | -0.16 | -0.20 | -0.15 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.07 | $6.16 | $6.14 | $6.19 | $6.10 | $6.10 | $5.47 | $5.54 | ||||
| Jesup | -0.16 | -0.16 | -0.16 | -0.12 | -0.10 | -0.10 | -0.30 | -0.35 | |||
| $6.16 | $6.16 | $6.18 | $6.22 | $6.20 | $6.20 | $5.52 | $5.54 | ||||
| EDDYVILLE | -0.06 | -0.03 | 0.06 | 0.06 | 0.03 | 0.03 | -0.30 | -0.22 | |||
| $6.26 | $6.29 | $6.40 | $6.40 | $6.33 | $6.33 | $5.52 | $5.67 | ||||
| CEDAR RAPIDS | -0.06 | 0.03 | 0.07 | 0.07 | 0.05 | 0.04 | -0.25 | -0.20 | |||
| $6.26 | $6.35 | $6.41 | $6.41 | $6.35 | $6.34 | $5.57 | $5.69 | ||||
| FORT DODGE | 0.10 | 0.13 | 0.18 | 0.18 | 0.18 | 0.18 | -0.15 | ||||
| $6.42 | $6.45 | $6.52 | $6.52 | $6.48 | $6.48 | $5.67 | |||||
| JEWELL | -0.02 | 0.00 | 0.07 | 0.07 | 0.00 | 0.00 | -0.28 | ||||
| $6.30 | $6.32 | $6.41 | $6.41 | $6.30 | $6.30 | $5.54 | |||||
| FAIRBANK | -0.12 | -0.10 | -0.07 | -0.07 | -0.10 | -0.10 | -0.25 | ||||
| $6.20 | $6.22 | $6.27 | $6.27 | $6.20 | $6.20 | $5.57 | |||||
| SEABOARD | 0.00 | 0.05 | 0.05 | ||||||||
| $6.32 | $6.39 | $6.39 | |||||||||
| IOWA FALLS | -0.04 | -0.04 | 0.00 | 0.00 | -0.10 | -0.10 | -0.30 | -0.30 | |||
| $6.28 | $6.28 | $6.34 | $6.34 | $6.20 | $6.20 | $5.52 | $5.59 | ||||
| SHELLROCK | -0.12 | -0.10 | -0.08 | -0.10 | -0.15 | -0.15 | -0.25 | ||||
| $6.20 | $6.22 | $6.26 | $6.24 | $6.15 | $6.15 | $5.57 | |||||
| LINCOLNWAY | -0.07 | -0.04 | 0.04 | 0.04 | 0.00 | 0.00 | -0.30 | -0.26 | |||
| $6.25 | $6.28 | $6.38 | $6.38 | $6.30 | $6.30 | $5.52 | $5.63 | ||||
| SINCLAIR | -0.08 | -0.08 | -0.12 | -0.12 | -0.13 | -0.13 | -0.28 | ||||
| $6.24 | $6.24 | $6.22 | $6.22 | $6.17 | $6.17 | $5.54 | |||||
| PINELAKE | -0.05 | -0.03 | -0.07 | -0.05 | -0.05 | -0.01 | -0.30 | -0.28 | |||
| $6.27 | $6.29 | $6.27 | $6.29 | $6.25 | $6.02 | $5.52 | $5.61 | ||||
| MASON CITY | -0.06 | -0.06 | -0.04 | -0.04 | -0.25 | ||||||
| $6.26 | $6.26 | $6.28 | $6.28 | $5.89 | $5.89 | $5.57 | |||||
| . | . | ||||||||||
| CHARLES CITY | -0.07 | -0.04 | 0.06 | 0.06 | 0.04 | 0.04 | -0.20 | ||||
| $6.25 | $6.28 | $6.40 | $6.40 | $6.34 | $6.34 | $5.62 | |||||
| HANLONTOWN | -0.09 | -0.06 | -0.04 | -0.04 | -0.08 | -0.08 | -0.30 | ||||
| $6.23 | $6.26 | $6.30 | $6.30 | $6.22 | $6.22 | $5.52 | |||||
| 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 | $14.94 | $15.04 | $15.07 | $15.14 | $15.12 | $15.15 | $13.52 | $13.50 | |||
| Lisc/Haverhill | -0.70 | -0.65 | -0.65 | -0.58 | -0.56 | -0.53 | -0.61 | -0.60 | |||
| $14.99 | $15.04 | $15.07 | $15.14 | $15.12 | $15.15 | $13.52 | $13.50 | ||||
| CedarF/Jesup/Hud/LaPo | -0.65 | -0.65 | -0.65 | -0.60 | -0.56 | -0.53 | -0.61 | -0.60 | |||
| $14.89 | $15.04 | $15.07 | $15.12 | $15.12 | $15.15 | $13.52 | $13.50 | ||||
| IOWA FALLS | -0.75 | -0.65 | -0.45 | -0.25 | -0.35 | -0.25 | -0.35 | -0.20 | |||
| $14.94 | $15.04 | $15.27 | $15.47 | $15.33 | $15.43 | $13.78 | $13.90 | ||||
| CEDAR RAPIDS | -0.75 | -0.65 | -0.30 | -0.15 | -0.15 | -0.15 | -0.30 | -0.15 | |||
| $14.94 | $15.04 | $15.42 | $15.57 | $15.53 | $15.53 | $13.83 | $13.95 | ||||
| DES MOINES | -0.35 | -0.30 | -0.35 | -0.35 | -0.35 | -0.35 | -0.40 | -0.35 | |||
| $15.34 | $15.39 | $15.37 | $15.37 | $15.33 | $15.33 | $13.73 | $13.75 | ||||
| AGP | -0.45 | -0.40 | |||||||||
| $15.24 | $15.29 | ||||||||||
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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.