Daily Commentary
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Monday April 4th
Corn: +17 ½ to +11
The corn market traded higher throughout the session before finishing with strong gains. Nearby values led the way today with the July contract finishing over 17 cents higher. December futures ended 11 cents higher while making a new higher and posting a new high close. The December contract did also trade above the $7 level today. Uncertainty surrounding the Ukraine remains as underlying support as the war continues. Weekly export inspections were again solid at over 60 million bushels, but down from the last year. The USDA did announce flash sales of old and new crop corn to China in the morning release.
Soybeans: +22 ¼ to +33
Soybeans did trade lower on the open last night but quickly turned higher and finished the session with solid gains. Soybean spreads were weaker on the day with the November contract adding 33 cents while July futures gained just over 22. Soy products were also higher today with soybean oil and meal posting moderate gains. Weekly soybean export inspections were with estimates at just over 27 million bushels. China was again the leading destination for US soybeans. Brazilian basis levels were reported unchanged as they are estimated at 80% complete with harvest which is slightly ahead of last year.
Mid Iowa Cooperative has recently revised their HTA contract service fees. For details, please contact your Mid Iowa grain representative.
| 4/4/2022 | |||||||||
| Processor Bids and Hours are subject to change, please call before hauling | |||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | ||
| ADM CR | 5-1 | 5-3 | 5-3 | 5-3 | |||||
| EDDYVILLE | 6-4:30 | ||||||||
| STARCH | 7-3 | 7-3 | |||||||
| PENFORD | WAXY | 7:30-2:30 | 7:30-2:30 | 7:30-2:30 | |||||
| FORT DODGE | CLOSED | 7-3 | |||||||
| JEWELL | 7:30-4 | 7:30-4 | 7:30-4 | 7:30-4 | |||||
| SEABOARD | |||||||||
| FAIRBANK / POET | CLOSED | CLOSED | CLOSED | CLOSED | |||||
| IOWA FALLS / POET | 7-5 | 7-5 | 7-5 | 7-5 | |||||
| SHELLROCK / POET | 7-5 | CLOSED | CLOSED | CLOSED | |||||
| LINCOLN WAY | 8-4 | 8-4 | 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 | |||||
| AGP EAGLE GROVE | 7-5 | 7-5 | 7-5 | 7-5 | |||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 4/4/2022 | 46.40% | ||||
| MAY 22 | $7.50 | $16.02 | |||||||
| JUL 22 | $7.39 | $15.89 | |||||||
| DEC/NOV 22 | $6.99 | $14.40 | |||||||
| JAN (MAR/JAN) | $7.01 | $14.38 | |||||||
| CORN | |||||||||
| APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/Gbrook | -0.22 | -0.22 | -0.25 | -0.25 | -0.40 | -0.35 | |||
| GrnMt/Mill Junc | $7.17 | $7.17 | $7.14 | $7.14 | $6.59 | $6.61 | |||
| Liscomb | -0.20 | -0.20 | -0.25 | -0.25 | -0.40 | -0.35 | |||
| $7.19 | $7.19 | $7.14 | $7.14 | $6.59 | $6.61 | ||||
| Haverhill | -0.22 | -0.22 | -0.25 | -0.25 | -0.40 | -0.35 | |||
| $7.17 | $7.17 | $7.14 | $7.14 | $6.59 | $6.61 | ||||
| Midway | -0.22 | -0.22 | -0.25 | -0.25 | -0.40 | -0.35 | |||
| $7.17 | $7.17 | $7.14 | $7.14 | $6.59 | $6.61 | ||||
| Hudson/LaPorte | -0.22 | -0.22 | -0.25 | -0.25 | -0.40 | -0.35 | |||
| $7.17 | $7.17 | $7.14 | $7.14 | $6.59 | $6.61 | ||||
| Cedar Falls | -0.22 | -0.18 | -0.25 | -0.25 | -0.40 | -0.35 | |||
| $7.17 | $7.21 | $7.14 | $7.14 | $6.59 | $6.61 | ||||
| Jesup | -0.18 | -0.12 | -0.22 | -0.22 | -0.40 | -0.35 | |||
| $7.21 | $7.27 | $7.17 | $7.17 | $6.59 | $6.61 | ||||
| EDDYVILLE | 0.00 | 0.10 | 0.05 | 0.05 | -0.23 | -0.22 | |||
| $7.39 | $7.49 | $7.44 | $7.44 | $6.76 | $6.79 | ||||
| CEDAR RAPIDS | 0.13 | 0.16 | 0.10 | 0.08 | -0.20 | -0.20 | |||
| $7.52 | $7.55 | $7.49 | $7.47 | $6.79 | $6.81 | ||||
| FORT DODGE | -0.05 | 0.00 | 0.10 | 0.10 | -0.20 | ||||
| $7.45 | $7.50 | $7.49 | $7.49 | $6.79 | |||||
| JEWELL | 0.10 | 0.13 | 0.08 | 0.08 | -0.28 | -0.25 | |||
| $7.49 | $7.52 | $7.47 | $7.47 | $6.71 | $6.76 | ||||
| FAIRBANK | -0.03 | 0.00 | -0.10 | -0.10 | -0.30 | ||||
| $7.36 | $7.39 | $7.29 | $7.29 | $6.69 | |||||
| SEABOARD | 0.17 | 0.17 | 0.00 | 0.00 | -0.20 | ||||
| $7.56 | $7.56 | $7.39 | $7.39 | $6.79 | |||||
| IOWA FALLS | 0.10 | 0.13 | 0.08 | 0.08 | -0.30 | -0.30 | |||
| $7.49 | $7.52 | $7.47 | $7.47 | $6.69 | $6.71 | ||||
| SHELLROCK | 0.00 | 0.00 | -0.05 | -0.05 | -0.30 | ||||
| $7.39 | $7.39 | $7.34 | $7.34 | $6.69 | |||||
| LINCOLNWAY | 0.03 | 0.07 | 0.07 | 0.07 | -0.27 | -0.25 | |||
| $7.42 | $7.46 | $7.46 | $7.46 | $6.72 | $6.76 | ||||
| SINCLAIR | -0.05 | -0.05 | -0.1 | -0.1 | -0.35 | -0.3 | |||
| $7.34 | $7.34 | $7.29 | $7.29 | $6.64 | $6.71 | ||||
| PINELAKE | 0.13 | 0.14 | 0.08 | 0.10 | -0.30 | -0.28 | |||
| $7.52 | $7.53 | $7.47 | $6.02 | $6.69 | $6.73 | ||||
| MASON CITY | -0.35 | -0.32 | -0.06 | -0.06 | -0.25 | ||||
| $7.15 | $7.18 | $7.33 | $7.33 | $6.74 | |||||
| CHARLES CITY | -0.32 | -0.28 | -0.05 | -0.05 | -0.28 | ||||
| $7.18 | $7.22 | $7.34 | $7.34 | $6.71 | |||||
| HANLONTOWN | -0.03 | 0.00 | -0.06 | -0.06 | -0.30 | ||||
| $7.36 | $7.39 | $7.33 | $7.33 | $6.69 | |||||
| SOYBEANS | |||||||||
| APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||
| Bman/Crad/ | -0.80 | -0.80 | -0.75 | -0.53 | -0.75 | -0.60 | |||
| Gbrook/GrnMt/Midway | $15.09 | $15.09 | $15.14 | $15.14 | $13.65 | $13.73 | |||
| Lisc/Haverhill | -0.75 | -0.75 | -0.75 | -0.53 | -0.75 | -0.60 | |||
| $15.14 | $15.14 | $15.14 | $15.14 | $13.65 | $13.73 | ||||
| CedarF/Jesup/Hud/LaPo | -0.75 | -0.80 | -0.75 | -0.53 | -0.75 | -0.60 | |||
| $15.14 | $15.09 | $15.14 | $15.14 | $13.65 | $13.73 | ||||
| IOWA FALLS | -1.00 | -1.00 | -1.00 | -0.60 | -0.40 | -0.20 | |||
| $14.89 | $14.89 | $14.89 | $15.29 | $14.00 | $14.18 | ||||
| CEDAR RAPIDS | -0.40 | -0.30 | -0.10 | -0.05 | -0.35 | -0.15 | |||
| $15.49 | $15.59 | $15.79 | $15.84 | $14.05 | $14.23 | ||||
| DES MOINES | -0.28 | -0.33 | -0.36 | -0.36 | -0.40 | -0.25 | |||
| $15.61 | $15.56 | $15.53 | $15.53 | $14.00 | $14.13 | ||||
| AGP | -0.7 | -0.7 | -0.65 | -0.25 | |||||
| $15.19 | $15.19 | $15.24 | $14.15 | ||||||
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.