Daily Commentary
Tuesday May 25th
Corn: -37 to -24 ½
The corn market fell under pressure throughout the day and ended with sharp losses. July futures ended the day 37 cents lower and did trade at the 40-cent limit late in the session. Corn spreads were weaker on the day with the December contract losing over 24 cents. Several things appeared to be behind today’s selloff with thoughts of weaker demand and larger supplies. Yesterday’s progress report showed corn 90% planted with improving weather forecasts for much of the corn belt along with continued thoughts of increased acres. Rumors were heard today of more Chinese old crop corn cancellations as they rebook in the new crop. Also, technical damage was done by today’s corn move.
Soybeans: -11 to -15
Soybeans traded both sides of unchanged through the session before ending moderately lower. Nearby soybean lost 11 cents on the day after trading in a range of nearly 40 cents. New crop values were off 15 cents today while making a new low for the recent move. Soybean products were sharply mixed with meal falling under heavy pressure while soybean oil gained over 150 pts. Soybean planting pace was also reported a stronger than average 75%. The market does believe early soybean planting does generally lead to better yields.
| Processor Bids and Hours are subject to change, please call before hauling | |||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN |
| ADM CR | 5-7 | ||||||
| EDDYVILLE | 6-5 | ||||||
| STARCH | 7-3 | ||||||
| PENFORD | CLOSED | WAXY | 7:30-11 | ||||
| FORT DODGE | 7-12 | ||||||
| JEWELL | 730-4 | ||||||
| SEABOARD | |||||||
| FAIRBANK / FH | CLOED | ||||||
| IOWA FALLS / FH | 7-5 | 7-5 | 7-5 | ||||
| SHELLROCK / FH | 7-5 | ||||||
| LINCOLN WAY | 1-4 | ||||||
| PINELAKE | |||||||
| IOWA FALLS/CARGIL | APPT | ||||||
| CEDAR RAPIDS/CARGIL | APPT | ||||||
| ADM DM | 6-6 | ||||||
| AGP EAGLE GROVE | 7-5 | 7-5 | |||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/24/2021 | 20.90% | ||
| JULY 21 | $6.20 | $15.12 | |||||
| DEC / NOV 21 | $5.16 | $13.47 | |||||
| MAR 22 | $5.22 | – | |||||
| JAN 22 | – | $13.48 | |||||
| CORN | |||||||
| MAY | JUNE | JULY | NC21 | JAN | |||
| Bman/Crad/Gbrook | 0.10 | 0.10 | 0.10 | -0.30 | -0.35 | ||
| GrnMt/Mill Junc | $6.30 | $6.30 | $6.30 | $4.86 | $4.87 | ||
| Liscomb | 0.10 | 0.10 | 0.10 | -0.30 | -0.30 | ||
| $6.30 | $6.30 | $6.30 | $4.86 | $4.92 | |||
| Haverhill | 0.17 | 0.17 | 0.17 | -0.30 | -0.35 | ||
| $6.37 | $6.37 | $6.37 | $4.86 | $4.87 | |||
| Midway | 0.15 | 0.15 | 0.15 | -0.30 | -0.35 | ||
| $6.35 | $6.35 | $6.35 | $4.86 | $4.87 | |||
| Hudson/LaPorte | 0.12 | 0.12 | 0.12 | -0.30 | -0.35 | ||
| $6.32 | $6.35 | $6.32 | $4.86 | $4.87 | |||
| Cedar Falls | 0.15 | 0.15 | 0.15 | -0.30 | -0.30 | ||
| $6.35 | $6.35 | $6.35 | $4.86 | $4.92 | |||
| Jesup | 0.22 | 0.22 | 0.22 | -0.25 | -0.25 | ||
| $6.42 | $6.42 | $6.42 | $4.91 | $4.97 | |||
| EDDYVILLE | 0.30 | 0.35 | 0.45 | -0.20 | -0.14 | ||
| $6.50 | $6.55 | $6.65 | $4.96 | $5.08 | |||
| CEDAR RAPIDS | 0.40 | 0.45 | 0.45 | -0.15 | -0.14 | ||
| $6.60 | $6.65 | $6.65 | $5.01 | $5.08 | |||
| FORT DODGE | 0.40 | 0.42 | 0.45 | 0.05 | 0.05 | ||
| $6.60 | $6.62 | $6.65 | $5.21 | $5.27 | |||
| JEWELL | 0.18 | 0.25 | 0.30 | -0.26 | -0.24 | ||
| $6.38 | $6.45 | $6.50 | $4.90 | $4.98 | |||
| FAIRBANK | 0.30 | 0.35 | 0.35 | -0.25 | -0.25 | ||
| $6.50 | $6.55 | $6.55 | $4.91 | $4.97 | |||
| SEABOARD | 0.40 | 0.40 | -0.20 | ||||
| $6.60 | $6.60 | $4.96 | |||||
| IOWA FALLS | 0.30 | 0.30 | 0.35 | -0.25 | -0.30 | ||
| $6.50 | $6.50 | $6.55 | $4.91 | $4.92 | |||
| SHELLROCK | 0.30 | 0.30 | 0.35 | -0.25 | -0.25 | ||
| $6.50 | $6.50 | $6.55 | $4.91 | $4.97 | |||
| LINCOLNWAY | 0.28 | 0.34 | 0.34 | -0.24 | -0.23 | ||
| $6.48 | $6.54 | $6.54 | $4.92 | $4.99 | |||
| SINCLAIR | 0.22 | 0.25 | 0.25 | -0.28 | -0.25 | ||
| $6.42 | $6.45 | $6.45 | $4.88 | $4.97 | |||
| PINELAKE | 0.30 | 0.30 | 0.35 | -0.20 | -0.18 | ||
| $6.50 | $6.50 | $6.55 | $4.96 | $5.04 | |||
| MASON CITY | 0.30 | 0.30 | 0.30 | -0.28 | |||
| $6.50 | $6.50 | $6.50 | 4.88 | ||||
| . | . | . | . | . | |||
| CHARLES CITY | 0.28 | 0.28 | 0.30 | -0.20 | -0.35 | ||
| $6.48 | $6.48 | $6.50 | $4.96 | $4.87 | |||
| HANLONTOWN | 0.15 | 0.15 | 0.18 | -0.34 | -0.32 | ||
| $6.35 | 6.35 | $6.38 | $4.82 | $4.90 | |||
| SOYBEANS | |||||||
| MAY | JUNE | JULY | NC21 | JAN | |||
| Bman/Crad/ | -0.05 | -0.05 | -0.05 | -0.65 | -0.65 | ||
| Gbrook/GrnMt/Midway | $15.07 | $15.07 | $15.07 | $12.82 | $12.83 | ||
| Lisc/Haverhill | 0.05 | 0.05 | 0.05 | -0.65 | -0.65 | ||
| $15.17 | $15.12 | $15.17 | $12.82 | $12.83 | |||
| CedarF/Jesup/Hud/LaPo | -0.05 | -0.05 | -0.05 | -0.65 | -0.65 | ||
| $15.07 | $15.07 | $15.07 | $12.82 | $12.83 | |||
| IOWA FALLS | -0.05 | 0.10 | 0.20 | -0.40 | -0.25 | ||
| $15.07 | $15.22 | $15.32 | $13.07 | $13.23 | |||
| CEDAR RAPIDS | 0.00 | 0.10 | 0.20 | -0.40 | -0.25 | ||
| $15.12 | $15.22 | $15.32 | $13.07 | $13.23 | |||
| DES MOINES | 0.25 | 0.25 | 0.20 | -0.40 | -0.30 | ||
| $15.37 | $15.37 | $15.32 | $13.07 | $13.18 | |||
| AGP | -0.25 | -0.25 | |||||
| $14.87 | $14.87 | $15.12 |
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.