Daily Commentary
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Friday March 25th
Corn: +6 ¼ to +1 ½
The corn market traded both sides of unchanged through the session before ending with modest gains. The July contract gained just over 6 cents on the day and over 22 cents on the week. December futures didn’t fare as well today, ending just over a penny higher. The old/new spread was softer on the week with December futures gaining over 23 cents. The news stories remain the same with talk this week that maybe 40% of the corn acreage in the Ukraine will not get planted this spring. Next week will bring the prospective plantings report along with the 2nd quarter stocks report. Traders are expecting corn acreage to be near 92 million acres.
Soybeans: +6 ¼ to +3 ¾
Soybeans also finished with modest gains today after another low volume session. Nearby values finished just over 6 cents higher and nearly 22 cents above the overnight low. The new crop contract gained nearly 4 cents after trading in a range of 17 cents. Beans were stronger on the week with the July contract gaining over 42 cents with new crop values up 30. Rumors of China buying 3 cargoes of US soybeans for August delivery helped to support today’s trade. Traders are looking for the USDA to forecast soybean acreage near 89 million, up solidly from last year due to the high price of raising corn.
Mid Iowa Cooperative has recently revised their HTA contract service fees. For details, please contact your Mid Iowa grain representative.
| 3/25/2022 | ||||||||||
| 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 | 5-3 | 5-3 | ||||||
| EDDYVILLE | 6-4 | |||||||||
| STARCH | 7-3 | 7-3 | ||||||||
| PENFORD | 7:30-2:30 | 7:30-2:30 | ||||||||
| FORT DODGE | 7-3 | |||||||||
| JEWELL | 7:30-4 | 7:30-4 | ||||||||
| SEABOARD | 6-4:30 | |||||||||
| FAIRBANK / POET | 7-5 | 7-5 | ||||||||
| IOWA FALLS / POET | 7-5 | 7-5 | ||||||||
| SHELLROCK / POET | CLOSED | CLOSED | ||||||||
| LINCOLN WAY | 8-4 | 8-4 | CLOSED | |||||||
| 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 | 6-6 | 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 | $7.54 | $17.10 | ||||||||
| JUL 22 | $7.35 | $16.88 | ||||||||
| DEC/NOV 22 | $6.69 | $14.97 | ||||||||
| JAN (MAR/JAN) | $6.70 | $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 | $7.10 | $7.10 | $7.10 | $7.05 | $7.05 | $6.29 | $6.30 | |||
| Liscomb | -0.20 | -0.20 | -0.20 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.15 | $7.15 | $7.15 | $7.05 | $7.05 | $6.29 | $6.30 | ||||
| Haverhill | -0.25 | -0.25 | -0.25 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.10 | $7.10 | $7.10 | $7.05 | $7.05 | $6.29 | $6.30 | ||||
| Midway | -0.25 | -0.25 | -0.25 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.10 | $7.10 | $7.10 | $7.05 | $7.05 | $6.29 | $6.30 | ||||
| Hudson/LaPorte | -0.25 | -0.25 | -0.25 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.10 | $7.10 | $7.10 | $7.05 | $7.05 | $6.29 | $6.30 | ||||
| Cedar Falls | -0.18 | -0.25 | -0.18 | -0.30 | -0.30 | -0.40 | -0.35 | |||
| $7.17 | $7.10 | $7.17 | $7.05 | $7.05 | $6.29 | $6.30 | ||||
| Jesup | -0.12 | -0.18 | -0.12 | -0.22 | -0.22 | -0.40 | -0.35 | |||
| $7.23 | $7.17 | $7.23 | $7.13 | $7.13 | $6.29 | $6.30 | ||||
| EDDYVILLE | -0.07 | 0.07 | 0.10 | 0.05 | 0.05 | -0.30 | -0.22 | |||
| $7.28 | $7.42 | $7.45 | $7.40 | $7.40 | $6.39 | $6.48 | ||||
| CEDAR RAPIDS | 0.02 | 0.13 | 0.13 | 0.08 | 0.08 | -0.20 | -0.20 | |||
| $7.37 | $7.48 | $7.48 | $7.43 | $7.43 | $6.49 | $6.50 | ||||
| FORT DODGE | -0.32 | -0.25 | -0.20 | 0.10 | 0.10 | -0.20 | ||||
| $7.22 | $7.29 | $7.34 | $7.45 | $7.45 | $6.49 | |||||
| JEWELL | 0.14 | 0.14 | 0.16 | 0.08 | 0.08 | -0.28 | -0.25 | |||
| $7.49 | $7.49 | $7.51 | $7.43 | $7.43 | $6.41 | $6.45 | ||||
| FAIRBANK | 0.00 | 0.00 | 0.00 | -0.10 | -0.10 | -0.30 | ||||
| $7.35 | $7.35 | $7.35 | $7.25 | $7.25 | $6.39 | |||||
| SEABOARD | 0.17 | 0.17 | 0.00 | 0.00 | -0.20 | |||||
| $7.52 | $7.52 | $7.35 | $7.35 | $6.49 | ||||||
| IOWA FALLS | 0.10 | 0.10 | 0.13 | -0.05 | -0.05 | -0.30 | -0.30 | |||
| $7.45 | $7.45 | $7.48 | $7.30 | $7.30 | $6.39 | $6.40 | ||||
| SHELLROCK | 0.00 | 0.00 | 0.00 | -0.05 | -0.05 | -0.30 | ||||
| $7.35 | $7.35 | $7.35 | $7.30 | $7.30 | $6.39 | |||||
| LINCOLNWAY | 0.00 | 0.03 | 0.07 | 0.04 | 0.04 | -0.27 | -0.25 | |||
| $7.35 | $7.38 | $7.42 | $7.39 | $7.39 | $6.42 | $6.45 | ||||
| SINCLAIR | -0.05 | -0.05 | -0.05 | -0.1 | -0.1 | -0.35 | -0.3 | |||
| $7.30 | $7.30 | $7.30 | $7.25 | $7.25 | $6.34 | $6.40 | ||||
| PINELAKE | 0.10 | 0.13 | 0.14 | 0.08 | 0.10 | -0.30 | -0.28 | |||
| $7.45 | $7.48 | $7.49 | $7.43 | $6.02 | $6.39 | $6.42 | ||||
| MASON CITY | -0.36 | -0.35 | -0.32 | -0.06 | -0.06 | -0.25 | ||||
| $7.18 | $6.93 | $6.96 | $7.29 | $7.29 | $6.44 | |||||
| . | ||||||||||
| CHARLES CITY | -0.42 | -0.32 | -0.28 | -0.06 | -0.06 | -0.28 | ||||
| $7.12 | $7.22 | $7.26 | $7.29 | $7.29 | $6.41 | |||||
| HANLONTOWN | -0.05 | -0.03 | 0.00 | -0.06 | -0.06 | -0.30 | ||||
| $7.30 | $7.32 | $7.35 | $7.29 | $7.29 | $6.39 | |||||
| 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 | $15.98 | $15.98 | $15.98 | $16.13 | $16.13 | $14.22 | $14.24 | |||
| Lisc/Haverhill | -0.90 | -0.90 | -0.90 | -0.75 | -0.53 | -0.75 | -0.60 | |||
| $15.98 | $15.98 | $15.98 | $16.13 | $16.13 | $14.22 | $14.24 | ||||
| CedarF/Jesup/Hud/LaPo | -0.90 | -0.90 | -0.90 | -0.75 | -0.53 | -0.75 | -0.60 | |||
| $15.98 | $15.98 | $15.98 | $16.13 | $16.13 | $14.22 | $14.24 | ||||
| IOWA FALLS | -1.00 | -1.00 | -1.00 | -1.00 | -0.60 | -0.40 | -0.20 | |||
| $15.88 | $15.88 | $15.88 | $15.88 | $16.28 | $14.57 | $14.69 | ||||
| CEDAR RAPIDS | -0.70 | -0.40 | -0.30 | -0.20 | -0.15 | -0.35 | -0.15 | |||
| $16.18 | $16.48 | $16.58 | $16.68 | $16.73 | $14.62 | $14.74 | ||||
| DES MOINES | -0.35 | -0.35 | -0.45 | -0.50 | -0.50 | -0.40 | -0.35 | |||
| $16.53 | $16.53 | $16.43 | $16.38 | $16.38 | $14.57 | $14.54 | ||||
| AGP | -0.70 | -0.7 | -0.7 | -0.65 | -0.25 | |||||
| $16.18 | $16.18 | $16.18 | $16.23 | $14.72 | ||||||
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.