Daily Commentary
Mid Iowa Cooperative has launched a new app. Find it on the Apple App store and the Google Play store.
Tuesday March 22nd
Corn: +1 ½ to +6
The corn market spent much of the day trading mixed before a mostly higher close. The May/July spread was weaker today with the May being the only corn contract that finished lower. July futures gained just over a penny on light volume while the December contract gained 6 cents. December futures did make a new contract high today and marked a new high close. The continued uncertainty as to the Ukrainian crop is providing uncertainty with some private estimates suggesting that over 25% of their corn crop will not get planted. US processor basis levels remain soft with most appearing to have plenty of coverage at least nearby.
Soybeans: +6 ½ to +8
Soybeans traded both sides of unchanged throughout the session before ending with a modest gain. Nearby values added over 6 cents on the day with new crop gaining 8 cents as spreads were generally weaker. Soybean products were mixed today with soy oil ending with solid gains while meal was modestly lower. The tightness of worldwide veg oil stocks feels to be a bigger concern than soybean stocks at this point. Funds said to be small buyers of soybeans today with soybean volume also being very light. The USDA did announce a flash sale of soybeans this morning to an unknown destination with the trade thinking that Pakistan was the likely destination.
Mid Iowa Cooperative has recently revised its HTA contract service fees. For details, please contact your Mid Iowa grain representative.
| 3/22/2022 | ||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | ||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | |||
| ADM CR | 5-5 | 5-5 | 5-5 | 5-3 | ||||||
| EDDYVILLE | 6-4 | |||||||||
| STARCH | 7-3 | |||||||||
| PENFORD | WAXY | |||||||||
| FORT DODGE | 7-11:30 | |||||||||
| JEWELL | 7:30-4 | 7:30-4 | 7:30-4 | |||||||
| SEABOARD | ||||||||||
| FAIRBANK / POET | 7-5 | 7-5 | 7-5 | |||||||
| IOWA FALLS / POET | 7-5 | 7-5 | 7-5 | |||||||
| SHELLROCK / POET | 7-12 | 7-5 | 7-5 | |||||||
| LINCOLN WAY | CLOSED | 8-12 | CLOSED | |||||||
| 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 | 7-5 | 7-5 | ||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 3/21/2022 | 42.40% | |||||
| MAR 22 | $7.28 | $16.87 | ||||||||
| MAY 22 | $7.53 | $16.96 | ||||||||
| JUL 22 | $7.30 | $16.79 | ||||||||
| DEC/NOV 22 | $6.70 | $14.98 | ||||||||
| JAN (MAR/JAN) | $6.71 | $14.89 | ||||||||
| CORN | ||||||||||
| MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/Gbrook | -0.25 | -0.25 | -0.25 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| GrnMt/Mill Junc | $7.05 | $7.05 | $7.05 | $7.00 | $7.00 | $6.30 | $6.31 | |||
| Liscomb | -0.20 | -0.20 | -0.20 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.10 | $7.10 | $7.10 | $7.00 | $7.00 | $6.30 | $6.31 | ||||
| Haverhill | -0.25 | -0.25 | -0.25 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.05 | $7.05 | $7.05 | $7.00 | $7.00 | $6.30 | $6.31 | ||||
| Midway | -0.25 | -0.25 | -0.25 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.05 | $7.05 | $7.05 | $7.00 | $7.00 | $6.30 | $6.31 | ||||
| Hudson/LaPorte | -0.25 | -0.25 | -0.25 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.05 | $7.05 | $7.05 | $7.00 | $7.00 | $6.30 | $6.31 | ||||
| Cedar Falls | -0.18 | -0.25 | -0.18 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.12 | $7.05 | $7.12 | $7.00 | $7.00 | $6.30 | $6.31 | ||||
| Jesup | -0.12 | -0.18 | -0.12 | -0.22 | -0.22 | -0.40 | -0.35 | |||
| $7.18 | $7.12 | $7.18 | $7.08 | $7.08 | $6.30 | $6.31 | ||||
| EDDYVILLE | -0.07 | 0.07 | 0.10 | 0.05 | 0.05 | -0.30 | -0.22 | |||
| $7.23 | $7.37 | $7.40 | $7.35 | $7.35 | $6.40 | $6.49 | ||||
| CEDAR RAPIDS | 0.02 | 0.13 | 0.13 | 0.08 | 0.07 | -0.20 | -0.20 | |||
| $7.32 | $7.43 | $7.43 | $7.38 | $7.37 | $6.50 | $6.51 | ||||
| FORT DODGE | -0.32 | -0.25 | -0.20 | 0.10 | 0.10 | -0.20 | ||||
| $7.21 | $7.28 | $7.33 | $7.40 | $7.40 | $6.50 | |||||
| JEWELL | 0.14 | 0.14 | 0.16 | 0.00 | 0.00 | -0.28 | -0.25 | |||
| $7.44 | $7.44 | $7.46 | $7.30 | $7.30 | $6.42 | $6.46 | ||||
| FAIRBANK | 0.00 | 0.00 | 0.00 | -0.10 | -0.10 | -0.30 | ||||
| $7.30 | $7.30 | $7.30 | $7.20 | $7.20 | $6.40 | |||||
| SEABOARD | 0.17 | 0.17 | 0.00 | 0.00 | -0.20 | |||||
| $7.47 | $7.47 | $7.30 | $7.30 | $6.50 | ||||||
| IOWA FALLS | 0.13 | 0.13 | 0.13 | -0.05 | -0.05 | -0.30 | -0.30 | |||
| $7.43 | $7.43 | $7.43 | $7.25 | $7.25 | $6.40 | $6.41 | ||||
| SHELLROCK | 0.00 | 0.00 | 0.00 | -0.05 | -0.05 | -0.30 | ||||
| $7.30 | $7.30 | $7.30 | $7.25 | $7.25 | $6.40 | |||||
| LINCOLNWAY | 0.00 | 0.03 | 0.07 | 0.04 | 0.04 | -0.27 | -0.25 | |||
| $7.30 | $7.33 | $7.37 | $7.34 | $7.34 | $6.43 | $6.46 | ||||
| SINCLAIR | 0.00 | 0.00 | 0.00 | -0.1 | -0.1 | -0.3 | -0.3 | |||
| $7.30 | $7.30 | $7.30 | $7.20 | $7.20 | $6.40 | $6.41 | ||||
| PINELAKE | 0.10 | 0.13 | 0.14 | 0.08 | 0.10 | -0.30 | -0.28 | |||
| $7.40 | $7.43 | $7.44 | $7.38 | $6.02 | $6.40 | $6.43 | ||||
| MASON CITY | -0.36 | -0.35 | -0.32 | -0.06 | -0.06 | -0.25 | ||||
| $7.17 | $6.93 | $6.96 | $7.24 | $7.24 | $6.45 | |||||
| . | ||||||||||
| CHARLES CITY | -0.42 | -0.32 | -0.28 | -0.07 | -0.07 | -0.30 | ||||
| $7.11 | $7.21 | $7.25 | $7.23 | $7.23 | $6.40 | |||||
| HANLONTOWN | 0.00 | 0.00 | 0.00 | -0.06 | -0.06 | -0.30 | ||||
| $7.30 | $7.30 | $7.30 | $7.24 | $7.24 | $6.40 | |||||
| SOYBEANS | ||||||||||
| MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/ | -0.90 | -0.90 | -0.90 | -0.75 | -0.53 | -0.75 | -0.60 | |||
| Gbrook/GrnMt/Midway | $15.89 | $15.89 | $15.89 | $16.04 | $16.04 | $14.23 | $14.24 | |||
| Lisc/Haverhill | -0.90 | -0.90 | -0.90 | -0.75 | -0.53 | -0.75 | -0.60 | |||
| $15.89 | $15.89 | $15.89 | $16.04 | $16.04 | $14.23 | $14.24 | ||||
| CedarF/Jesup/Hud/LaPo | -0.90 | -0.90 | -0.90 | -0.75 | -0.53 | -0.75 | -0.60 | |||
| $15.89 | $15.89 | $15.89 | $16.04 | $16.04 | $14.23 | $14.24 | ||||
| IOWA FALLS | -1.00 | -1.00 | -1.00 | -1.00 | -0.60 | -0.40 | -0.20 | |||
| $15.79 | $15.79 | $15.79 | $15.79 | $16.19 | $14.58 | $14.69 | ||||
| CEDAR RAPIDS | -0.70 | -0.40 | -0.30 | -0.20 | -0.15 | -0.35 | -0.15 | |||
| $16.09 | $16.39 | $16.49 | $16.59 | $16.64 | $14.63 | $14.74 | ||||
| DES MOINES | -0.35 | -0.35 | -0.45 | -0.50 | -0.50 | -0.40 | -0.35 | |||
| $16.44 | $16.44 | $16.34 | $16.29 | $16.29 | $14.58 | $14.54 | ||||
| AGP | -0.70 | -0.7 | -0.7 | -0.65 | -0.25 | |||||
| $16.09 | $16.09 | $16.09 | $16.14 | $14.73 | ||||||
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.