Daily Commentary
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Thursday March 31st
Corn: +13 to +27 ¾
The corn market ended solidly higher today with support from today’s USDA reports. July futures finished 13 cents higher after trading 33 cents higher at one point. The December contract led the way higher today, finishing 28 cents higher after trading limit higher at one point. Today’s big news was the surprising corn acreage forecast from the USDA. With the trade expecting near 92 million corn acres, the USDA only gave them 89.5. This was below the lowest estimate and really leaves very little margin for error in this year’s corn crop. We also got the quarterly stocks report number from the USDA today. It showed 7.85 billion bushels which was just below the average guess but up from last year.
Soybeans: -44 ½ to -49 ¾
Soybean fell under heavy pressure today and ended with sharp losses. Both the old and new crop contracts lost nearly 45-50 cents today and finished near the low. The surprisingly small corn acreage number was mostly due to the larger than expected soy acreage. The USDA released a record soy acreage forecast of 91 million acres. This was well above the average estimates with even Iowa showing a 300,000 acre shift to soybeans. The soybean quarterly stocks number was slightly above estimates but is nearly 400 million bushels larger than a year ago.
Mid Iowa Cooperative has recently revised their HTA contract service fees. For details, please contact your Mid Iowa grain representative.
| 3/31/2022 | |||||||||
| Processor Bids and Hours are subject to change, please call before hauling | |||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | ||
| ADM CR | 5-3 | 5-7 | 5-5 | 5-5 | |||||
| EDDYVILLE | 7-4 | ||||||||
| STARCH | 7-5 | ||||||||
| PENFORD | 7:30-2:30 | ||||||||
| FORT DODGE | 7-3 | 7-3 | |||||||
| JEWELL | 7:30-4 | 7:30-4 | |||||||
| SEABOARD | 6-4:30 | ||||||||
| FAIRBANK / POET | CLOSED | 7-11 | |||||||
| IOWA FALLS / POET | 7-5 | 7-3 | |||||||
| SHELLROCK / POET | 7-5 | CLOSED | |||||||
| LINCOLN WAY | 8-4 | 8-4 | |||||||
| 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 | ||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 3/28/2022 | 46.40% | ||||
| MAR 22 | $7.28 | $16.87 | |||||||
| MAY 22 | $7.49 | $16.18 | |||||||
| JUL 22 | $7.33 | $15.98 | |||||||
| DEC/NOV 22 | $6.84 | $14.20 | |||||||
| JAN (MAR/JAN) | $6.84 | $14.16 | |||||||
| CORN | |||||||||
| MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | |||
| Bman/Crad/Gbrook | -0.22 | -0.22 | -0.22 | -0.30 | -0.30 | -0.40 | -0.35 | ||
| GrnMt/Mill Junc | $7.11 | $7.11 | $7.11 | $7.03 | $7.03 | $6.44 | $6.44 | ||
| Liscomb | -0.20 | -0.20 | -0.20 | -0.30 | -0.30 | -0.40 | -0.35 | ||
| $7.13 | $7.13 | $7.13 | $7.03 | $7.03 | $6.44 | $6.44 | |||
| Haverhill | -0.22 | -0.22 | -0.22 | -0.30 | -0.30 | -0.40 | -0.35 | ||
| $7.11 | $7.11 | $7.11 | $7.03 | $7.03 | $6.44 | $6.44 | |||
| Midway | -0.22 | -0.22 | -0.22 | -0.30 | -0.30 | -0.40 | -0.35 | ||
| $7.11 | $7.11 | $7.11 | $7.03 | $7.03 | $6.44 | $6.44 | |||
| Hudson/LaPorte | -0.22 | -0.22 | -0.22 | -0.30 | -0.30 | -0.40 | -0.35 | ||
| $7.11 | $7.11 | $7.11 | $7.03 | $7.03 | $6.44 | $6.44 | |||
| Cedar Falls | -0.18 | -0.22 | -0.18 | -0.30 | -0.30 | -0.40 | -0.35 | ||
| $7.15 | $7.11 | $7.15 | $7.03 | $7.03 | $6.44 | $6.44 | |||
| Jesup | -0.12 | -0.18 | -0.12 | -0.22 | -0.22 | -0.40 | -0.35 | ||
| $7.21 | $7.15 | $7.21 | $7.11 | $7.11 | $6.44 | $6.44 | |||
| EDDYVILLE | -0.05 | 0.00 | 0.10 | 0.05 | 0.05 | -0.23 | -0.22 | ||
| $7.28 | $7.33 | $7.43 | $7.38 | $7.38 | $6.61 | $6.62 | |||
| CEDAR RAPIDS | 0.13 | 0.13 | 0.16 | 0.10 | 0.08 | -0.20 | -0.20 | ||
| $7.46 | $7.46 | $7.49 | $7.43 | $7.41 | $6.64 | $6.64 | |||
| FORT DODGE | -0.05 | -0.05 | 0.00 | 0.10 | 0.10 | -0.20 | |||
| $7.44 | $7.44 | $7.49 | $7.43 | $7.43 | $6.64 | ||||
| JEWELL | 0.10 | 0.10 | 0.13 | 0.08 | 0.08 | -0.28 | -0.25 | ||
| $7.43 | $7.43 | $7.46 | $7.41 | $7.41 | $6.56 | $6.59 | |||
| FAIRBANK | -0.03 | -0.03 | 0.00 | -0.10 | -0.10 | -0.30 | |||
| $7.30 | $7.30 | $7.33 | $7.23 | $7.23 | $6.54 | ||||
| SEABOARD | 0.17 | 0.17 | 0.00 | 0.00 | -0.20 | ||||
| $7.50 | $7.50 | $7.33 | $7.33 | $6.64 | |||||
| IOWA FALLS | 0.10 | 0.10 | 0.13 | 0.08 | 0.08 | -0.30 | -0.30 | ||
| $7.43 | $7.43 | $7.46 | $7.41 | $7.41 | $6.54 | $6.54 | |||
| SHELLROCK | 0.00 | 0.00 | 0.00 | -0.05 | -0.05 | -0.30 | |||
| $7.33 | $7.33 | $7.33 | $7.28 | $7.28 | $6.54 | ||||
| LINCOLNWAY | 0.00 | 0.03 | 0.07 | 0.07 | 0.07 | -0.27 | -0.25 | ||
| $7.33 | $7.36 | $7.40 | $7.40 | $7.40 | $6.57 | $6.59 | |||
| SINCLAIR | -0.05 | -0.05 | -0.05 | -0.1 | -0.1 | -0.35 | -0.3 | ||
| $7.28 | $7.28 | $7.28 | $7.23 | $7.23 | $6.49 | $6.54 | |||
| PINELAKE | 0.10 | 0.13 | 0.14 | 0.08 | 0.10 | -0.30 | -0.28 | ||
| $7.43 | $7.46 | $7.47 | $7.41 | $6.02 | $6.54 | $6.56 | |||
| MASON CITY | -0.36 | -0.35 | -0.32 | -0.06 | -0.06 | -0.25 | |||
| $7.13 | $6.93 | $6.96 | $7.27 | $7.27 | $6.59 | ||||
| . | |||||||||
| CHARLES CITY | -0.42 | -0.32 | -0.28 | -0.05 | -0.05 | -0.28 | |||
| $7.07 | $7.17 | $7.21 | $7.28 | $7.28 | $6.56 | ||||
| HANLONTOWN | -0.03 | -0.03 | 0.00 | -0.06 | -0.06 | -0.30 | |||
| $7.30 | $7.30 | $7.33 | $7.27 | $7.27 | $6.54 | ||||
| SOYBEANS | |||||||||
| MAR | APRIL | MAY | JUNE | JULY | NC22 | JAN | |||
| Bman/Crad/ | -0.85 | -0.85 | -0.85 | -0.75 | -0.53 | -0.75 | -0.60 | ||
| Gbrook/GrnMt/Midway | $15.13 | $15.13 | $15.13 | $15.23 | $15.23 | $13.45 | $13.51 | ||
| Lisc/Haverhill | -0.80 | -0.80 | -0.81 | -0.75 | -0.53 | -0.75 | -0.60 | ||
| $15.18 | $15.18 | $15.18 | $15.23 | $15.23 | $13.45 | $13.51 | |||
| CedarF/Jesup/Hud/LaPo | -0.85 | -0.85 | -0.85 | -0.75 | -0.53 | -0.75 | -0.60 | ||
| $15.13 | $15.13 | $15.13 | $15.23 | $15.23 | $13.45 | $13.51 | |||
| IOWA FALLS | -1.00 | -1.00 | -1.00 | -1.00 | -0.60 | -0.40 | -0.20 | ||
| $14.98 | $14.98 | $14.98 | $14.98 | $15.38 | $13.80 | $13.96 | |||
| CEDAR RAPIDS | -0.70 | -0.40 | -0.30 | -0.10 | -0.05 | -0.35 | -0.15 | ||
| $15.28 | $15.58 | $15.68 | $15.88 | $15.93 | $13.85 | $14.01 | |||
| DES MOINES | -0.30 | -0.30 | -0.35 | -0.40 | -0.40 | -0.40 | -0.35 | ||
| $15.68 | $15.68 | $15.63 | $15.58 | $15.58 | $13.80 | $13.81 | |||
| AGP | -0.70 | -0.7 | -0.7 | -0.65 | -0.25 | ||||
| $15.28 | $15.28 | $15.28 | $15.33 | $13.95 | |||||
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.