Daily Commentary
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Monday March 28th
Corn: -4 ¼ to -4 ½
The corn market traded lower throughout the session but ended the day with just a modest loss. Both the July and December contracts lost just over 4 cents while ending well above the early low. Macro market bearishness weighed on the grains today with energy markets sharply lower. Peace talks in the Russia/Ukraine conflict promoted a risk-off day along with more COVID shutdowns in China. Weekly export loadings of 63 million bushels were down from last year and doesn’t promote the ideas that US export demand will rise sharply due to the war.
Soybeans: -41 ¾ to -28
Soybeans were under heavy pressure today with values fading through the session. Nearby soybeans finished nearly 42 cents lower and ended near the session’s low. New crop values ended 28 cents lower as the old/new spreads were weaker on the day. Soy products were also lower with soybean oil and meal posting large losses. Soybean weekly inspections were up from last week at 23 million bushels. The USDA did announce a flash sale of soybeans to China this morning with those expected to be in the June/July timeframe. A stronger US dollar also helped to weigh on commodities today.
Mid Iowa Cooperative has recently revised their HTA contract service fees. For details, please contact your Mid Iowa grain representative.
| 3/28/2022 | ||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | ||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | |||
| ADM CR | 5-7 | 5-7 | 5-7 | 5-7 | ||||||
| EDDYVILLE | 6-3 | |||||||||
| STARCH | 7-3 | 7-3 | ||||||||
| PENFORD | 7:30-2:30 | WAXY | 7:30-2:30 | 7:30-2:30 | ||||||
| FORT DODGE | 7-3 | 7-3 | 7-3 | |||||||
| JEWELL | 7:30-4 | 7:30-4 | 7:30-4 | 7:30-4 | ||||||
| SEABOARD | ||||||||||
| FAIRBANK / POET | 7-5 | 7-5 | 7-12 | 7-5 | ||||||
| IOWA FALLS / POET | 7-5 | 7-5 | 7-5 | 7-5 | ||||||
| SHELLROCK / POET | CLOSED | CLOSED | CLOSED | CLOSED | ||||||
| LINCOLN WAY | 8-4 | CLOSED | 8-4 | 8-4 | ||||||
| PINELAKE | 7:30-4:15 | 7:30-4:15 | 7:30-4:15 | 7:30-4:15 | ||||||
| IOWA FALLS/CARGIL | 6-5 | 6-5 | 6-5 | 6-5 | CLOSED | |||||
| CEDAR RAPIDS/CARGIL | 6-5 | 6-5 | 6-5 | 6-5 | CLOSED | |||||
| ADM DM | 6-6 | 6-6 | 6-6 | 6-6 | ||||||
| AGP EAGLE GROVE | 7-5 | |||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 3/21/2022 | 42.40% | |||||
| MAR 22 | $7.28 | $16.87 | ||||||||
| MAY 22 | $7.48 | $16.64 | ||||||||
| JUL 22 | $7.30 | $16.47 | ||||||||
| DEC/NOV 22 | $6.64 | $14.69 | ||||||||
| JAN (MAR/JAN) | $6.66 | $14.62 | ||||||||
| 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 | $6.24 | $6.26 | |||
| 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 | $6.24 | $6.26 | ||||
| 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 | $6.24 | $6.26 | ||||
| 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 | $6.24 | $6.26 | ||||
| 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 | $6.24 | $6.26 | ||||
| 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 | $6.24 | $6.26 | ||||
| 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 | $6.24 | $6.26 | ||||
| EDDYVILLE | -0.05 | 0.07 | 0.10 | 0.05 | 0.05 | -0.23 | -0.22 | |||
| $7.25 | $7.37 | $7.40 | $7.35 | $7.35 | $6.41 | $6.44 | ||||
| CEDAR RAPIDS | 0.10 | 0.13 | 0.13 | 0.08 | 0.08 | -0.20 | -0.20 | |||
| $7.40 | $7.43 | $7.43 | $7.38 | $7.38 | $6.44 | $6.46 | ||||
| FORT DODGE | -0.22 | -0.18 | -0.10 | 0.10 | 0.10 | -0.20 | ||||
| $7.26 | $7.30 | $7.38 | $7.40 | $7.40 | $6.44 | |||||
| JEWELL | 0.14 | 0.14 | 0.16 | 0.08 | 0.08 | -0.28 | -0.25 | |||
| $7.44 | $7.44 | $7.46 | $7.38 | $7.38 | $6.36 | $6.41 | ||||
| FAIRBANK | 0.00 | 0.00 | 0.00 | -0.10 | -0.10 | -0.30 | ||||
| $7.30 | $7.30 | $7.30 | $7.20 | $7.20 | $6.34 | |||||
| SEABOARD | 0.17 | 0.17 | 0.00 | 0.00 | -0.20 | |||||
| $7.47 | $7.47 | $7.30 | $7.30 | $6.44 | ||||||
| IOWA FALLS | 0.10 | 0.10 | 0.13 | 0.08 | 0.08 | -0.30 | -0.30 | |||
| $7.40 | $7.40 | $7.43 | $7.38 | $7.38 | $6.34 | $6.36 | ||||
| SHELLROCK | 0.00 | 0.00 | 0.00 | -0.05 | -0.05 | -0.30 | ||||
| $7.30 | $7.30 | $7.30 | $7.25 | $7.25 | $6.34 | |||||
| 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 | $6.37 | $6.41 | ||||
| SINCLAIR | -0.05 | -0.05 | -0.05 | -0.1 | -0.1 | -0.35 | -0.3 | |||
| $7.25 | $7.25 | $7.25 | $7.20 | $7.20 | $6.29 | $6.36 | ||||
| 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 | $6.34 | $6.38 | ||||
| MASON CITY | -0.36 | -0.35 | -0.32 | -0.06 | -0.06 | -0.25 | ||||
| $7.12 | $6.93 | $6.96 | $7.24 | $7.24 | $6.39 | |||||
| . | ||||||||||
| CHARLES CITY | -0.42 | -0.32 | -0.28 | -0.06 | -0.06 | -0.28 | ||||
| $7.06 | $7.16 | $7.20 | $7.24 | $7.24 | $6.36 | |||||
| HANLONTOWN | -0.05 | -0.03 | 0.00 | -0.06 | -0.06 | -0.30 | ||||
| $7.25 | $7.27 | $7.30 | $7.24 | $7.24 | $6.34 | |||||
| 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 | $15.57 | $15.57 | $15.57 | $15.72 | $15.72 | $13.94 | $13.97 | |||
| Lisc/Haverhill | -0.90 | -0.90 | -0.90 | -0.75 | -0.53 | -0.75 | -0.60 | |||
| $15.57 | $15.57 | $15.57 | $15.72 | $15.72 | $13.94 | $13.97 | ||||
| CedarF/Jesup/Hud/LaPo | -0.90 | -0.90 | -0.90 | -0.75 | -0.53 | -0.75 | -0.60 | |||
| $15.57 | $15.57 | $15.57 | $15.72 | $15.72 | $13.94 | $13.97 | ||||
| IOWA FALLS | -1.00 | -1.00 | -1.00 | -1.00 | -0.60 | -0.40 | -0.20 | |||
| $15.47 | $15.47 | $15.47 | $15.47 | $15.87 | $14.29 | $14.42 | ||||
| CEDAR RAPIDS | -0.70 | -0.40 | -0.30 | -0.20 | -0.15 | -0.35 | -0.15 | |||
| $15.77 | $16.07 | $16.17 | $16.27 | $16.32 | $14.34 | $14.47 | ||||
| DES MOINES | -0.35 | -0.35 | -0.45 | -0.50 | -0.50 | -0.40 | -0.35 | |||
| $16.12 | $16.12 | $16.02 | $15.97 | $15.97 | $14.29 | $14.27 | ||||
| AGP | -0.70 | -0.7 | -0.7 | -0.65 | -0.25 | |||||
| $15.77 | $15.77 | $15.77 | $15.82 | $14.44 | ||||||
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.