Daily Commentary
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Wednesday February 16th
Corn: +9 to +4
The corn market traded moderately higher today after trading higher for much of the session. Corn spreads turned firmer today with the March contract gaining 9 cents while December futures gained just 4. Both contracts did finish near the high of the session. Today’s strength was tied to the sharply higher soybean market along with renewed concerns surrounding Russia and the Ukraine. The weekly energy report was mixed with ethanol production recovering slightly from last week’s level. Stocks were again reported higher and are at record levels for the week. Ethanol margins remain thin, down sharply from where they were early in the year.
Soybeans: +36 ¼ to +23 ½
Soybeans rallied nicely throughout the day and finished with sharp gains. Nearby values finished over 36 cents higher after only briefly trading lower. The new crop contract was 23 cents higher as soybean spreads also reversed course after yesterday’s weakness. Soy products were also higher with both soybean oil and meal posting sharp gains. Heavy fund buying was seen today as concerns of the South American crop were at the forefront again today. A story that Paraguay would be out of soybean by mid-summer was heard, fueling today’s buying. Traders are expecting weekly sales to be reported near 50 million bushels in tomorrow’s update.
| 2/16/2022 | |||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | |||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | ||||
| ADM CR | 5-11 | 5-11 | 5-12 | ||||||||
| EDDYVILLE | 6-12 | ||||||||||
| STARCH | 7-11 | ||||||||||
| PENFORD | 7:30-12 | 7:30-12 | |||||||||
| FORT DODGE | 7-3 | 7-3 | |||||||||
| JEWELL | 7:30-4 | 7:30-4 | |||||||||
| SEABOARD | 6:30-4 | 6:30-4 | |||||||||
| FAIRBANK / POET | CLOSED | 7-12 | |||||||||
| IOWA FALLS / POET | 7-5 | 7-5 | |||||||||
| SHELLROCK / POET | 7-2 | CLOSED | |||||||||
| LINCOLN WAY | 8-12 | 8-12 | |||||||||
| PINELAKE | 7:30-4:15 | 7:30-4:15 | |||||||||
| IOWA FALLS/CARGIL | 6-5 | 6-5 | CLOSED | ||||||||
| CEDAR RAPIDS/CARGIL | 6-5 | 6-5 | CLOSED | ||||||||
| ADM DM | 6-12 | 6-12 | |||||||||
| AGP EAGLE GROVE | 7-5 | 7-5 | |||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 2/14/2022 | 30.40% | ||||||
| MAR 22 | $6.47 | $15.87 | |||||||||
| MAY 22 | $6.46 | $15.91 | |||||||||
| JUL 22 | $6.41 | $15.89 | |||||||||
| DEC/NOV 22 | $5.94 | $14.55 | |||||||||
| JAN (MAR/JAN) | $6.00 | $14.54 | |||||||||
| CORN | |||||||||||
| FEB | MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/Gbrook | -0.27 | -0.24 | -0.21 | -0.19 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| GrnMt/Mill Junc | $6.20 | $6.23 | $6.25 | $6.27 | $6.21 | $6.21 | $5.59 | $5.65 | |||
| Liscomb | -0.24 | -0.21 | -0.18 | -0.18 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.23 | $6.28 | $6.28 | $6.28 | $6.21 | $6.21 | $5.59 | $5.65 | ||||
| Haverhill | -0.24 | -0.20 | -0.19 | -0.19 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.23 | $6.27 | $6.27 | $6.27 | $6.21 | $6.21 | $5.59 | $5.65 | ||||
| Midway | -0.27 | -0.24 | -0.21 | -0.19 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.20 | $6.23 | $6.25 | $6.27 | $6.21 | $6.21 | $5.59 | $5.65 | ||||
| Hudson/LaPorte | -0.27 | -0.24 | -0.21 | -0.19 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.20 | $6.23 | $6.25 | $6.27 | $6.21 | $6.21 | $5.59 | $5.65 | ||||
| Cedar Falls | -0.18 | -0.18 | -0.21 | -0.16 | -0.20 | -0.20 | -0.35 | -0.35 | |||
| $6.20 | $6.29 | $6.25 | $6.30 | $6.21 | $6.21 | $5.59 | $5.65 | ||||
| Jesup | -0.18 | -0.18 | -0.17 | -0.13 | -0.10 | -0.10 | -0.30 | -0.35 | |||
| $6.29 | $6.29 | $6.29 | $6.33 | $6.31 | $6.31 | $5.64 | $5.65 | ||||
| EDDYVILLE | -0.15 | -0.08 | 0.04 | 0.03 | 0.03 | 0.03 | -0.30 | -0.22 | |||
| $6.32 | $6.39 | $6.50 | $6.49 | $6.44 | $6.44 | $5.64 | $5.78 | ||||
| CEDAR RAPIDS | -0.08 | 0.01 | 0.06 | 0.07 | 0.05 | 0.05 | -0.25 | -0.20 | |||
| $6.39 | $6.48 | $6.52 | $6.53 | $6.46 | $6.46 | $5.69 | $5.80 | ||||
| FORT DODGE | 0.05 | 0.08 | 0.20 | 0.20 | 0.20 | 0.20 | -0.15 | ||||
| $6.52 | $6.55 | $6.66 | $6.66 | $6.61 | $6.61 | $5.79 | |||||
| JEWELL | -0.02 | -0.02 | 0.03 | 0.03 | 0.00 | 0.00 | -0.28 | ||||
| $6.45 | $6.45 | $6.49 | $6.49 | $6.41 | $6.41 | $5.66 | |||||
| FAIRBANK | -0.14 | -0.12 | -0.07 | -0.07 | -0.10 | -0.10 | -0.25 | ||||
| $6.33 | $6.35 | $6.39 | $6.39 | $6.31 | $6.31 | $5.69 | |||||
| SEABOARD | 0.00 | 0.04 | 0.06 | 0.08 | |||||||
| $6.47 | $6.50 | $6.52 | $6.49 | ||||||||
| IOWA FALLS | -0.06 | -0.04 | 0.00 | 0.00 | -0.10 | -0.10 | -0.30 | -0.30 | |||
| $6.41 | $6.43 | $6.46 | $6.46 | $6.31 | $6.31 | $5.64 | $5.70 | ||||
| SHELLROCK | -0.14 | -0.12 | -0.10 | -0.10 | -0.15 | -0.15 | -0.25 | ||||
| $6.33 | $6.35 | $6.36 | $6.36 | $6.26 | $6.26 | $5.69 | |||||
| LINCOLNWAY | -0.10 | -0.08 | 0.00 | 0.04 | 0.00 | 0.00 | -0.30 | -0.26 | |||
| $6.37 | $6.39 | $6.46 | $6.50 | $6.41 | $6.41 | $5.64 | $5.74 | ||||
| SINCLAIR | -0.12 | -0.12 | -0.12 | -0.12 | -0.13 | -0.13 | -0.28 | ||||
| $6.35 | $6.35 | $6.34 | $6.34 | $6.28 | $6.28 | $5.66 | |||||
| PINELAKE | -0.09 | -0.07 | -0.07 | -0.05 | -0.05 | -0.01 | -0.30 | -0.28 | |||
| $6.38 | $6.40 | $6.39 | $6.41 | $6.36 | $6.02 | $5.64 | $5.72 | ||||
| MASON CITY | -0.09 | -0.09 | -0.07 | -0.07 | -0.25 | ||||||
| $6.38 | $6.38 | $6.40 | $6.40 | $6.00 | $6.00 | $5.69 | |||||
| . | . | ||||||||||
| CHARLES CITY | -0.16 | -0.13 | -0.02 | 0.00 | 0.04 | 0.04 | -0.20 | ||||
| $6.31 | $6.34 | $6.44 | $6.46 | $6.45 | $6.45 | $5.74 | |||||
| HANLONTOWN | -0.12 | -0.12 | -0.07 | -0.05 | -0.08 | -0.08 | -0.28 | ||||
| $6.35 | $6.35 | $6.39 | $6.41 | $6.33 | $6.33 | $5.66 | |||||
| SOYBEANS | |||||||||||
| FEB | MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/ | -0.75 | -0.65 | -0.65 | -0.58 | -0.56 | -0.53 | -0.60 | -0.60 | |||
| Gbrook/GrnMt/Midway | $15.12 | $15.22 | $15.26 | $15.33 | $15.33 | $15.36 | $13.95 | $13.94 | |||
| Lisc/Haverhill | -0.70 | -0.65 | -0.65 | -0.58 | -0.56 | -0.53 | -0.60 | -0.60 | |||
| $15.17 | $15.22 | $15.26 | $15.33 | $15.33 | $15.36 | $13.95 | $13.94 | ||||
| CedarF/Jesup/Hud/LaPo | -0.65 | -0.65 | -0.65 | -0.60 | -0.56 | -0.53 | -0.60 | -0.60 | |||
| $15.07 | $15.22 | $15.26 | $15.31 | $15.33 | $15.36 | $13.95 | $13.94 | ||||
| IOWA FALLS | -0.75 | -0.65 | -0.45 | -0.25 | -0.35 | -0.25 | -0.35 | -0.20 | |||
| $15.12 | $15.22 | $15.46 | $15.66 | $15.54 | $15.64 | $14.20 | $14.34 | ||||
| CEDAR RAPIDS | -0.75 | -0.65 | -0.30 | -0.15 | -0.15 | -0.15 | -0.30 | -0.15 | |||
| $15.12 | $15.22 | $15.61 | $15.76 | $15.74 | $15.74 | $14.25 | $14.39 | ||||
| DES MOINES | -0.37 | -0.25 | -0.30 | -0.30 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $15.50 | $15.62 | $15.61 | $15.61 | $15.59 | $15.59 | $14.15 | $14.19 | ||||
| AGP | -0.40 | -0.35 | -0.35 | ||||||||
| $15.47 | $15.52 | $14.20 | |||||||||
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.