Daily Commentary
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Friday March 11th
Corn: +2 ¾ to +1 ½
The corn market traded both sides of unchanged through the session before ending with a small gain. The July contract finished nearly 3 cents higher after trading in a range of nearly 17 cents. December futures finished just over a penny higher after spending much of the day lower. For the week, nearby values gained just 7 cents while new crop was up nearly 26 cents on weaker old/new spreads. The story remains the same in the corn market with concerns over the Ukrainian crop and exports. The USDA did announce another flash sale of old crop corn this morning as the trade will expect to see this continue. This week saw the USDA update their supply and demand numbers to little fanfare as the summer export season will tell the real story on the corn ending stocks in the US.
Soybeans: -8 ¼ to -1 ¼
Soybeans spent much of the session trading lower and ended with a modest loss. July futures were off just over 8 cents on the day with the November contract down just over a penny. Soybean products were mixed on the day with soybean meal losing over $6 today. The old/new soybean spreads were also softer on the week as nearby values gained 18 cents against the new crop contract gaining over 40 cents. China was announced to be the buyer of more new crop soybeans in the morning announcement as they remain actively purchasing new soybeans. Brazil export values did fall over the past week and have an edge of over 25 cents on US values. Interior processor markets remain very weak and appear to be well bought in for at least the near future.
Mid Iowa Cooperative has recently revised its HTA contract service fees. For details, please contact your Mid Iowa grain representative.
| 3/11/2022 | ||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | ||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | |||
| ADM CR | 5-3 | 5-3 | 5-3 | 5-12 | closed | |||||
| EDDYVILLE | 6-4 | |||||||||
| STARCH | 7-3 | CLOSED | ||||||||
| PENFORD | 7:30-2:30 | 7:30-2:30 | ||||||||
| FORT DODGE | 7-3 | 7-3 | 7-3 | 0-Jan | ||||||
| JEWELL | 7:30-4 | 7:30-4 | 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 | tbd | tbd | |||||||
| 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 | CLOSED | ||||||
| AGP EAGLE GROVE | ||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 3/7/2022 | 37.80% | |||||
| MAR 22 | $7.64 | $16.91 | ||||||||
| MAY 22 | $7.62 | $16.76 | ||||||||
| JUL 22 | $7.29 | $16.51 | ||||||||
| DEC/NOV 22 | $6.55 | $14.91 | ||||||||
| JAN (MAR/JAN) | $6.53 | $14.75 | ||||||||
| CORN | ||||||||||
| MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/Gbrook | -0.28 | -0.28 | -0.28 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| GrnMt/Mill Junc | $7.01 | $7.01 | $7.01 | $6.99 | $6.99 | $6.15 | $6.13 | |||
| Liscomb | -0.22 | -0.22 | -0.22 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.07 | $7.07 | $7.07 | $6.99 | $6.99 | $6.15 | $6.13 | ||||
| Haverhill | -0.28 | -0.28 | -0.28 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.01 | $7.01 | $7.01 | $6.99 | $6.99 | $6.15 | $6.13 | ||||
| Midway | -0.30 | -0.28 | -0.30 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $6.99 | $7.01 | $6.99 | $6.99 | $6.99 | $6.15 | $6.13 | ||||
| Hudson/LaPorte | -0.30 | -0.30 | -0.30 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $6.99 | $6.99 | $6.99 | $6.99 | $6.99 | $6.15 | $6.13 | ||||
| Cedar Falls | -0.25 | -0.30 | -0.25 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.04 | $6.99 | $7.04 | $6.99 | $6.99 | $6.15 | $6.13 | ||||
| Jesup | -0.22 | -0.25 | -0.22 | -0.22 | -0.22 | -0.40 | -0.35 | |||
| $7.07 | $7.04 | $7.07 | $7.07 | $7.07 | $6.15 | $6.13 | ||||
| EDDYVILLE | -0.07 | 0.07 | 0.07 | 0.05 | 0.05 | -0.30 | -0.22 | |||
| $7.22 | $7.36 | $7.36 | $7.34 | $7.34 | $6.25 | $6.31 | ||||
| CEDAR RAPIDS | -0.02 | 0.10 | 0.11 | 0.05 | 0.05 | -0.20 | -0.20 | |||
| $7.27 | $7.39 | $7.40 | $7.34 | $7.34 | $6.35 | $6.33 | ||||
| FORT DODGE | -0.32 | -0.25 | -0.20 | 0.10 | 0.10 | -0.20 | ||||
| $7.30 | $7.37 | $7.42 | $7.39 | $7.39 | $6.35 | |||||
| JEWELL | 0.16 | 0.16 | 0.16 | 0.00 | 0.00 | -0.28 | -0.25 | |||
| $7.45 | $7.45 | $7.45 | $7.29 | $7.29 | $6.27 | $6.28 | ||||
| FAIRBANK | -0.03 | 0.00 | 0.00 | -0.10 | -0.10 | -0.30 | ||||
| $7.26 | $7.29 | $7.29 | $7.19 | $7.19 | $6.25 | |||||
| SEABOARD | 0.10 | 0.10 | 0.00 | 0.00 | -0.20 | |||||
| $7.39 | $7.39 | $7.29 | $7.29 | $6.35 | ||||||
| IOWA FALLS | 0.05 | 0.10 | 0.10 | -0.05 | -0.05 | -0.30 | -0.30 | |||
| $7.34 | $7.39 | $7.39 | $7.24 | $7.24 | $6.25 | $6.23 | ||||
| SHELLROCK | 0.00 | 0.00 | 0.00 | -0.15 | -0.15 | -0.30 | ||||
| $7.29 | $7.29 | $7.29 | $7.14 | $7.14 | $6.25 | |||||
| LINCOLNWAY | 0.01 | 0.05 | 0.09 | 0.02 | 0.02 | -0.27 | -0.25 | |||
| $7.30 | $7.34 | $7.38 | $7.31 | $7.31 | $6.28 | $6.28 | ||||
| SINCLAIR | -0.10 | -0.1 | -0.1 | -0.15 | -0.15 | -0.3 | -0.3 | |||
| $7.19 | $7.19 | $7.19 | $7.14 | $7.14 | $6.25 | $6.23 | ||||
| PINELAKE | -0.25 | -0.22 | -0.20 | 0.08 | 0.10 | -0.30 | -0.28 | |||
| $7.37 | $7.40 | $7.42 | $7.37 | $6.02 | $6.25 | $6.25 | ||||
| MASON CITY | -0.38 | -0.34 | -0.3 | -0.06 | -0.06 | -0.25 | ||||
| $7.24 | $7.30 | $7.34 | $7.23 | $7.23 | $6.30 | |||||
| . | ||||||||||
| CHARLES CITY | -0.38 | -0.32 | -0.28 | -0.12 | -0.12 | -0.30 | ||||
| $7.24 | $7.30 | $7.34 | $7.17 | $7.17 | $6.25 | |||||
| HANLONTOWN | -0.05 | -0.03 | -0.02 | -0.06 | -0.06 | -0.28 | ||||
| $7.24 | $7.26 | $7.27 | $7.23 | $7.23 | $6.27 | |||||
| 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 | $15.61 | $15.61 | $15.61 | $15.81 | $15.81 | $14.16 | $14.10 | |||
| Lisc/Haverhill | -0.90 | -0.90 | -0.90 | -0.70 | -0.53 | -0.75 | -0.60 | |||
| $15.61 | $15.61 | $15.61 | $15.81 | $15.81 | $14.16 | $14.10 | ||||
| CedarF/Jesup/Hud/LaPo | -0.90 | -0.90 | -0.90 | -0.70 | -0.53 | -0.75 | -0.60 | |||
| $15.61 | $15.61 | $15.61 | $15.81 | $15.81 | $14.16 | $14.10 | ||||
| IOWA FALLS | -1.00 | -0.90 | -0.80 | -0.90 | -0.60 | -0.35 | -0.20 | |||
| $15.51 | $15.61 | $15.71 | $15.61 | $15.91 | $14.56 | $14.55 | ||||
| CEDAR RAPIDS | -0.70 | -0.40 | -0.30 | -0.20 | -0.15 | -0.30 | -0.15 | |||
| $15.81 | $16.11 | $16.21 | $16.31 | $16.36 | $14.61 | $14.60 | ||||
| DES MOINES | -0.45 | -0.45 | -0.45 | -0.50 | -0.50 | -0.40 | -0.35 | |||
| $16.06 | $16.06 | $16.06 | $16.01 | $16.01 | $14.51 | $14.40 | ||||
| AGP | -0.70 | -0.7 | -0.7 | -0.7 | -0.25 | |||||
| $15.81 | $15.81 | $15.81 | $15.81 | $14.66 | ||||||
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.