Daily Commentary
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Friday April 8th
Corn: +10 ½ to +7
After trading lower overnight, the corn market turned higher early this morning and finished with moderate gains. Nearly values gained over 10 cents on the day after trading in a nearly 20 cent range. The December contract added 7 cents as spreads turned firmer today. For the week the July contract gained 39 cents with December gaining 28. Today’s April supply and demand update had little for surprises, but the market wanted to trade firmer it seemed. The USDA made offsetting revisions to feed and ethanol demand, leaving ending stocks unchanged. Traders had been expecting an increase in export demand they were left disappointed by today’s revisions.
Soybeans: +41 to +29 ¼
The soybean market had a very solid session with values rallying through the day. July soybeans finished 41 cents higher on the day and gained just over $1 on the week. New crop soybeans didn’t perform quite as well, gaining 29 cents today and 88 cents on the week. Soy products were also higher today with meal and oil ending with moderate gains. The USDA made more expected revisions today to the balance sheet with a 25 million bushel increase in export demand. This took ending stocks down to a snug 260 million bushels. The USDA did also cut the Brazilian crop but did also reduce the Chinese soy import forecast.
Mid Iowa Cooperative has recently revised their HTA contract service fees. For details, please contact your Mid Iowa grain representative.
| 4/8/2022 | |||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | |||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | ||||
| ADM CR | CLOSED | 5-12 | 5-1 | 5-1 | CLOSED | CLOSED | |||||
| EDDYVILLE | 6-4 | ||||||||||
| STARCH | 7-5 | ||||||||||
| PENFORD | 7:30-2:30 | 7:30-2:30 | WAXY | ||||||||
| FORT DODGE | 7-3 | 7-3 | CLOSED | ||||||||
| JEWELL | 7:30-4 | 7:30-4 | 7:30-4 | 7:30-4 | |||||||
| SEABOARD | 6-4 | ||||||||||
| FAIRBANK / POET | 12-6 | 7-5 | CLOSED | CLOSED | |||||||
| IOWA FALLS / POET | CLOSED | CLOSED | CLOSED | CLOSED | CLOSED | ||||||
| SHELLROCK / POET | 7-5 | CLOSED | 7-5 | 7-5 | |||||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | CLOSED | CLOSED | ||||||
| PINELAKE | 7-4:15 | TBD | |||||||||
| 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 | 7-5 | 7-5 | 7-5 | |||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 4/4/2022 | 46.40% | ||||||
| MAY 22 | $7.69 | $16.89 | |||||||||
| JUL 22 | $7.61 | $16.68 | |||||||||
| DEC/NOV 22 | $7.16 | $14.95 | |||||||||
| JAN (MAR/JAN) | $7.16 | $14.94 | |||||||||
| 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 | $7.39 | $7.39 | $7.36 | $7.36 | $6.76 | $6.76 | |||||
| Liscomb | -0.20 | -0.20 | -0.25 | -0.25 | -0.40 | -0.35 | |||||
| $7.41 | $7.41 | $7.36 | $7.36 | $6.76 | $6.76 | ||||||
| Haverhill | -0.17 | -0.17 | -0.25 | -0.25 | -0.40 | -0.35 | |||||
| $7.44 | $7.44 | $7.36 | $7.36 | $6.76 | $6.76 | ||||||
| Midway | -0.22 | -0.22 | -0.25 | -0.25 | -0.40 | -0.35 | |||||
| $7.39 | $7.39 | $7.36 | $7.36 | $6.76 | $6.76 | ||||||
| Hudson/LaPorte | -0.22 | -0.22 | -0.25 | -0.25 | -0.40 | -0.35 | |||||
| $7.39 | $7.39 | $7.36 | $7.36 | $6.76 | $6.76 | ||||||
| Cedar Falls | -0.22 | -0.18 | -0.25 | -0.25 | -0.40 | -0.35 | |||||
| $7.39 | $7.43 | $7.36 | $7.36 | $6.76 | $6.76 | ||||||
| Jesup | -0.18 | -0.12 | -0.17 | -0.17 | -0.40 | -0.35 | |||||
| $7.43 | $7.49 | $7.44 | $7.44 | $6.76 | $6.76 | ||||||
| EDDYVILLE | 0.00 | 0.10 | 0.05 | 0.05 | -0.23 | -0.22 | |||||
| $7.61 | $7.71 | $7.66 | $7.66 | $6.93 | $6.94 | ||||||
| CEDAR RAPIDS | 0.09 | 0.16 | 0.10 | 0.08 | -0.20 | -0.20 | |||||
| $7.70 | $7.77 | $7.71 | $7.69 | $6.96 | $6.96 | ||||||
| FORT DODGE | -0.05 | 0.00 | 0.10 | 0.10 | -0.20 | ||||||
| $7.64 | $7.69 | $7.71 | $7.71 | $6.96 | |||||||
| JEWELL | 0.08 | 0.12 | 0.08 | 0.08 | -0.28 | -0.25 | |||||
| $7.69 | $7.73 | $7.69 | $7.69 | $6.88 | $6.91 | ||||||
| FAIRBANK | -0.05 | -0.05 | -0.10 | -0.10 | -0.30 | ||||||
| $7.56 | $7.56 | $7.51 | $7.51 | $6.86 | |||||||
| SEABOARD | 0.17 | 0.17 | 0.00 | 0.00 | -0.20 | ||||||
| $7.78 | $7.78 | $7.61 | $7.61 | $6.96 | |||||||
| IOWA FALLS | 0.10 | 0.13 | 0.08 | 0.08 | -0.30 | -0.30 | |||||
| $7.71 | $7.74 | $7.69 | $7.69 | $6.86 | $6.86 | ||||||
| SHELLROCK | -0.03 | -0.03 | -0.05 | -0.05 | -0.30 | ||||||
| $7.58 | $7.58 | $7.56 | $7.56 | $6.86 | |||||||
| LINCOLNWAY | 0.03 | 0.07 | 0.07 | 0.07 | -0.27 | -0.25 | |||||
| $7.64 | $7.68 | $7.68 | $7.68 | $6.89 | $6.91 | ||||||
| SINCLAIR | -0.05 | -0.05 | -0.1 | -0.1 | -0.35 | -0.3 | |||||
| $7.56 | $7.56 | $7.51 | $7.51 | $6.81 | $6.86 | ||||||
| PINELAKE | 0.02 | 0.04 | 0.09 | 0.10 | -0.30 | -0.28 | |||||
| $7.63 | $7.65 | $7.70 | $6.02 | $6.86 | $6.88 | ||||||
| MASON CITY | -0.3 | -0.3 | -0.06 | -0.06 | -0.25 | ||||||
| $7.39 | $7.39 | $7.55 | $7.55 | $6.91 | |||||||
| CHARLES CITY | -0.32 | -0.28 | -0.05 | -0.05 | -0.28 | ||||||
| $7.37 | $7.41 | $7.56 | $7.56 | $6.88 | |||||||
| HANLONTOWN | -0.05 | -0.03 | -0.06 | -0.06 | -0.33 | ||||||
| $7.56 | $7.58 | $7.55 | $7.55 | $6.83 | |||||||
| SOYBEANS | |||||||||||
| APRIL | MAY | JUNE | JULY | NC22 | JAN | ||||||
| Bman/Crad/ | -0.80 | -0.80 | -0.75 | -0.53 | -0.75 | -0.60 | |||||
| Gbrook/GrnMt/Midway | $15.88 | $15.88 | $15.93 | $15.93 | $14.20 | $14.29 | |||||
| Lisc/Haverhill | -0.75 | -0.75 | -0.75 | -0.53 | -0.75 | -0.60 | |||||
| $15.93 | $15.93 | $15.93 | $15.93 | $14.20 | $14.29 | ||||||
| CedarF/Jesup/Hud/LaPo | -0.75 | -0.80 | -0.75 | -0.53 | -0.75 | -0.60 | |||||
| $15.93 | $15.88 | $15.93 | $15.93 | $14.20 | $14.29 | ||||||
| IOWA FALLS | -1.00 | -1.00 | -1.00 | -0.60 | -0.40 | -0.20 | |||||
| $15.68 | $15.68 | $15.68 | $16.08 | $14.55 | $14.74 | ||||||
| CEDAR RAPIDS | -0.40 | -0.30 | -0.10 | -0.05 | -0.35 | -0.15 | |||||
| $16.28 | $16.38 | $16.58 | $16.63 | $14.60 | $14.79 | ||||||
| DES MOINES | -0.20 | -0.25 | -0.30 | -0.30 | -0.40 | -0.25 | |||||
| $16.48 | $16.43 | $16.38 | $16.38 | $14.55 | $14.69 | ||||||
| AGP | -0.7 | -0.7 | -0.65 | -0.25 | |||||||
| $15.98 | $15.98 | $16.03 | $14.70 | ||||||||
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.