Daily Commentary
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Tuesday March 8th
Corn: -1 ¼ to +1
The corn market had a choppy session that saw it trade both sides of unchanged before ending mixed. July futures were just slightly lower on the day as the old crop spreads remain volatile. The December contract gained just a penny after trading in a range of over 20 cents. The ongoing concerns over the Ukrainian exports and crop continue to support the market along with macro market support. The Wheat market did finally trade today after 5 sessions of limit higher trade with the May contract losing 7 cents after trading in a $2 range. Tomorrow will bring the updated supply and demand outlook with the trade looking for a small reduction in corn ending stocks. The market isn’t trading the fundamental story that is printed on the WASDE and I wouldn’t expect that to change tomorrow.
Soybeans: +21 ¾ to +20 ¼
Soybeans traded firmer throughout the session and ended with a moderate gain. Both the old and new crop contracts gained over 20 cents on the day while trading within the recent range. Soy products were also higher with soybean meal rallying late and helping to firm the soybean market. The USDA did announce another sale of new soybeans to China this morning as they have been in the market for new crop soybeans as of late. Traders are expecting the USDA to lower soybean ending stocks on stronger export demand, but the surprise could be lower crush. The USDA will also update their South American production numbers with most expecting a drop to closer to the private estimates.
Mid Iowa Cooperative has recently revised its HTA contract service fees. For details, please contact your Mid Iowa grain representative.
| 3/8/2022 | ||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | ||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | |||
| ADM CR | 5-12 | 5-3 | 5-3 | 5-3 | 5-3 | |||||
| EDDYVILLE | 6-12 | |||||||||
| STARCH | 7-3 | |||||||||
| PENFORD | WAXY | 7:30-2:30 | ||||||||
| FORT DODGE | 7-3 | 7-3 | 7-3 | |||||||
| JEWELL | 7:30-4 | 7:30-4 | 7:30-4 | |||||||
| SEABOARD | 6-4:30 | 6-4:30 | 6-4:30 | |||||||
| FAIRBANK / POET | 7-5 | 7-5 | 7-5 | |||||||
| IOWA FALLS / POET | 7-5 | 7-5 | 7-5 | |||||||
| SHELLROCK / POET | 7-5 | 7-12 | CLOSED | |||||||
| LINCOLN WAY | CLOSED | 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: | 3/7/2022 | 37.80% | |||||
| MAR 22 | $7.54 | $17.04 | ||||||||
| MAY 22 | $7.53 | $16.90 | ||||||||
| JUL 22 | $7.26 | $16.56 | ||||||||
| DEC/NOV 22 | $6.44 | $14.73 | ||||||||
| JAN (MAR/JAN) | $6.39 | $14.35 | ||||||||
| CORN | ||||||||||
| MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/Gbrook | -0.35 | -0.35 | -0.35 | -0.38 | -0.38 | -0.45 | -0.35 | |||
| GrnMt/Mill Junc | $6.91 | $6.91 | $6.91 | $6.88 | $6.88 | $5.99 | $5.99 | |||
| Liscomb | -0.35 | -0.35 | -0.35 | -0.38 | -0.38 | -0.45 | -0.35 | |||
| $6.91 | $6.91 | $6.91 | $6.88 | $6.88 | $5.99 | $5.99 | ||||
| Haverhill | -0.35 | -0.35 | -0.35 | -0.38 | -0.38 | -0.45 | -0.35 | |||
| $6.91 | $6.91 | $6.91 | $6.88 | $6.88 | $5.99 | $5.99 | ||||
| Midway | -0.35 | -0.35 | -0.35 | -0.38 | -0.38 | -0.45 | -0.35 | |||
| $6.91 | $6.91 | $6.91 | $6.88 | $6.88 | $5.99 | $5.99 | ||||
| Hudson/LaPorte | -0.35 | -0.35 | -0.35 | -0.38 | -0.38 | -0.45 | -0.35 | |||
| $6.91 | $6.91 | $6.91 | $6.88 | $6.88 | $5.99 | $5.99 | ||||
| Cedar Falls | -0.35 | -0.35 | -0.35 | -0.38 | -0.38 | -0.45 | -0.35 | |||
| $6.91 | $6.91 | $6.91 | $6.88 | $6.88 | $5.99 | $5.99 | ||||
| Jesup | -0.35 | -0.35 | -0.35 | -0.38 | -0.38 | -0.45 | -0.35 | |||
| $6.91 | $6.91 | $6.91 | $6.88 | $6.88 | $5.99 | $5.99 | ||||
| EDDYVILLE | -0.05 | 0.07 | 0.07 | 0.05 | 0.05 | -0.30 | -0.22 | |||
| $7.21 | $7.33 | $7.33 | $7.31 | $7.31 | $6.14 | $6.17 | ||||
| CEDAR RAPIDS | 0.00 | 0.10 | 0.09 | 0.07 | 0.07 | -0.20 | -0.20 | |||
| $7.26 | $7.36 | $7.35 | $7.33 | $7.33 | $6.24 | $6.19 | ||||
| FORT DODGE | -0.32 | -0.15 | -0.15 | 0.05 | 0.05 | -0.25 | ||||
| $7.21 | $7.38 | $7.38 | $7.31 | $7.31 | $6.19 | |||||
| JEWELL | 0.10 | 0.10 | 0.10 | 0.00 | 0.00 | -0.28 | -0.25 | |||
| $7.36 | $7.36 | $7.36 | $7.26 | $7.26 | $6.16 | $6.14 | ||||
| FAIRBANK | 0.05 | 0.10 | 0.10 | -0.10 | -0.10 | -0.30 | ||||
| $7.31 | $7.36 | $7.36 | $7.16 | $7.16 | $6.14 | |||||
| SEABOARD | 0.15 | -0.15 | 0.00 | 0.00 | -0.20 | |||||
| $7.41 | $7.11 | $7.26 | $7.26 | $6.24 | ||||||
| IOWA FALLS | 0.05 | 0.05 | 0.05 | -0.05 | -0.05 | -0.30 | -0.30 | |||
| $7.31 | $7.31 | $7.31 | $7.21 | $7.21 | $6.14 | $6.09 | ||||
| SHELLROCK | 0.05 | 0.10 | 0.10 | -0.15 | -0.15 | -0.30 | ||||
| $7.31 | $7.36 | $7.36 | $7.11 | $7.11 | $6.14 | |||||
| LINCOLNWAY | 0.01 | 0.05 | 0.09 | 0.02 | 0.02 | -0.27 | -0.25 | |||
| $7.27 | $7.31 | $7.35 | $7.28 | $7.28 | $6.17 | $6.14 | ||||
| SINCLAIR | 0.00 | 0.05 | 0.07 | -0.16 | -0.16 | -0.3 | ||||
| $7.26 | $7.31 | $7.33 | $7.10 | $7.10 | $6.14 | |||||
| PINELAKE | -0.30 | -0.30 | -0.30 | -0.03 | -0.01 | -0.30 | -0.28 | |||
| $7.23 | $7.23 | $7.23 | $7.23 | $6.02 | $6.14 | $6.11 | ||||
| MASON CITY | -0.38 | -0.34 | -0.3 | -0.06 | -0.06 | -0.25 | ||||
| $7.15 | $7.20 | $7.24 | $7.20 | $7.20 | $6.19 | |||||
| . | ||||||||||
| CHARLES CITY | -0.34 | -0.28 | -0.25 | -0.07 | -0.07 | -0.25 | ||||
| $7.19 | $7.25 | $7.28 | $7.19 | $7.19 | $6.19 | |||||
| HANLONTOWN | -0.05 | -0.03 | -0.02 | -0.06 | -0.06 | -0.28 | ||||
| $7.21 | $7.23 | $7.24 | $7.20 | $7.20 | $6.16 | |||||
| SOYBEANS | ||||||||||
| MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/ | -0.90 | -0.90 | -0.90 | -0.70 | -0.53 | -0.75 | -0.60 | |||
| Gbrook/GrnMt/Midway | $15.66 | $15.66 | $15.66 | $15.86 | $15.86 | $13.98 | $13.70 | |||
| Lisc/Haverhill | -0.90 | -0.90 | -0.90 | -0.70 | -0.53 | -0.75 | -0.60 | |||
| $15.66 | $15.66 | $15.66 | $15.86 | $15.86 | $13.98 | $13.70 | ||||
| CedarF/Jesup/Hud/LaPo | -0.90 | -0.90 | -0.90 | -0.70 | -0.53 | -0.75 | -0.60 | |||
| $15.66 | $15.66 | $15.66 | $15.86 | $15.86 | $13.98 | $13.70 | ||||
| IOWA FALLS | -1.00 | -0.90 | -0.80 | -0.90 | -0.60 | -0.35 | -0.20 | |||
| $15.56 | $15.66 | $15.76 | $15.66 | $15.96 | $14.38 | $14.15 | ||||
| CEDAR RAPIDS | -0.70 | -0.40 | -0.30 | -0.20 | -0.15 | -0.30 | -0.15 | |||
| $15.86 | $16.16 | $16.26 | $16.36 | $16.41 | $14.43 | $14.20 | ||||
| DES MOINES | -0.45 | -0.45 | -0.45 | -0.50 | -0.50 | -0.40 | -0.35 | |||
| $16.11 | $16.11 | $16.11 | $16.06 | $16.06 | $14.33 | $14.00 | ||||
| AGP | -0.70 | -0.7 | -0.7 | -0.7 | -0.25 | |||||
| $15.86 | $15.86 | $15.86 | $15.86 | $14.48 | ||||||
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.