Daily Commentary
We brought the Rainfall Report back! Here is the link https://www.midiowacoop.com/rainfall/ we also have a link on our MIC Mobile app.
Mid Iowa Cooperative has launched a new app. Find it on the Apple App store and the Google Play store.
Friday September 23rd
Corn: -11 ½
The corn market was under pressure throughout the session today with values fading further after the morning break. December futures lost over 11 cents on the day but finished the week just fractionally lower. Broad market commodity pressure weighed on the corn market today as economic fears overruled any fundamentals. Early corn yield reports continue to be mostly disappointing, but corn harvest progress does remain slow. Next week will bring the September stocks report with some traders thinking corn stocks will come in below expectations.
Soybeans: -31 ¼
Soybeans also traded lower for the entire session and ended with sharp losses. The November contract ended the day over 31 cents lower, trading to its lowest level since the September WASDE report. Soybean products were also lower on the day with soybean oil off sharply at well over 2 cents. As with corn the economic concerns ruled the day with equities at 52 week lows and crude oil trading to its lowest level since January.
Mid Iowa Cooperative has recently revised their HTA contract service fees. For details, please contact your Mid Iowa grain representative.
| 9/23/2022 | |||||||||
| 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 | 5-1 | 5-12 | ||||
| EDDYVILLE | 6-4:30 | ||||||||
| STARCH | 7-3 | 7-3 | |||||||
| PENFORD | 8-4 | 8-4 | WAXY | ||||||
| FORT DODGE | 7-3 | 7-3 | 7-3 | ||||||
| JEWELL | 7:30-4 | 7:30-4 | 7:30-4 | ||||||
| SEABOARD | 6-4 | 6-4 | |||||||
| FAIRBANK / POET | 7-4 | 7-4 | 7-4 | ||||||
| IOWA FALLS / POET | 7-5 | 7-5 | 7-5 | ||||||
| SHELLROCK / POET | 7-5 | 7-5 | 7-5 | ||||||
| LINCOLN WAY | CLOSED | TBD | 8-4 | ||||||
| PINELAKE | 7:30-4;15 | 7:30-4;15 | 7:30-4;15 | ||||||
| IOWA FALLS/CARGIL | 6-5 | 6-5 | |||||||
| CEDAR RAPIDS/CARGIL | 6-5 | 6-5 | 6-5 | 9-1 | |||||
| ADM DM | 6-5 | 6-5 | 6-5 | ||||||
| AGP EAGLE GROVE | N/A | N/A | N/A | N/A | N/A | ||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 9/19/2022 | 45.60% | ||||
| SEP/ AUG 22 | $0.00 | ||||||||
| DEC/NOV 22 | $6.77 | $14.26 | |||||||
| JAN | $14.32 | ||||||||
| MARCH | $6.82 | $14.34 | |||||||
| NC ’23 | $6.17 | $13.61 | |||||||
| CORN | |||||||||
| BY 9/23 | LH SEP | NC22 | DEC | JAN | MAR | NC23 | |||
| Bman/Crad/Gbrook | -0.35 | -0.35 | -0.35 | -0.35 | -0.40 | -0.35 | -0.50 | ||
| GrnMt/Mill Junc | $6.42 | $6.42 | $6.42 | $6.42 | $6.42 | $6.47 | $5.67 | ||
| Liscomb | -0.35 | -0.35 | -0.35 | -0.35 | -0.40 | -0.35 | -0.50 | ||
| $6.42 | $6.42 | $6.42 | $6.42 | $6.42 | $6.47 | $5.67 | |||
| Haverhill | -0.35 | -0.35 | -0.35 | -0.35 | -0.40 | -0.35 | -0.50 | ||
| $6.42 | $6.42 | $6.42 | $6.42 | $6.42 | $6.47 | $5.67 | |||
| Midway | -0.35 | -0.35 | -0.35 | -0.35 | -0.40 | -0.35 | -0.50 | ||
| $6.42 | $6.42 | $6.42 | $6.42 | $6.42 | $6.47 | $5.67 | |||
| Hudson/LaPorte | -0.35 | -0.35 | -0.32 | -0.35 | -0.40 | -0.35 | -0.50 | ||
| $6.42 | $6.42 | $6.45 | $6.42 | $6.42 | $6.47 | $5.67 | |||
| Cedar Falls | -0.35 | -0.35 | -0.35 | -0.35 | -0.40 | -0.35 | -0.50 | ||
| $6.42 | $6.42 | $6.42 | $6.42 | $6.42 | $6.47 | $5.67 | |||
| Jesup | 0.00 | -0.35 | -0.35 | -0.35 | -0.40 | -0.35 | -0.50 | ||
| $6.77 | $6.42 | $6.42 | $6.42 | $6.42 | $6.47 | $5.67 | |||
| EDDYVILLE | 0.55 | 0.50 | -0.10 | -0.09 | -0.18 | -0.12 | -0.30 | ||
| $7.32 | $7.27 | $6.67 | $6.68 | $6.64 | $6.70 | $5.87 | |||
| CEDAR RAPIDS | 0.65 | 0.45 | -0.05 | -0.07 | -0.17 | -0.12 | -0.30 | ||
| $7.42 | $7.22 | $6.72 | $6.70 | $6.65 | $6.70 | $5.87 | |||
| FORT DODGE | 0.75 | -0.05 | 0.00 | -0.04 | 0.00 | ||||
| $7.52 | $6.72 | $6.77 | $6.78 | $6.82 | |||||
| JEWELL | 0.00 | -0.10 | -0.08 | -0.13 | -0.13 | ||||
| $6.77 | $6.67 | $6.69 | $6.69 | $6.69 | |||||
| FAIRBANK | -0.10 | -0.10 | -0.10 | -0.25 | -0.25 | -0.25 | |||
| $6.67 | $6.67 | $6.67 | $6.52 | $6.57 | $6.57 | ||||
| SEABOARD | 0.70 | 0.45 | -0.17 | -0.15 | |||||
| $7.47 | $7.22 | $6.60 | $6.62 | ||||||
| IOWA FALLS | 0.60 | 0.60 | -0.30 | -0.25 | -0.20 | -0.20 | |||
| $7.37 | $7.37 | $6.47 | $6.52 | $6.62 | $6.62 | ||||
| SHELLROCK | 0.65 | 0.65 | 0.20 | -0.25 | -0.25 | -0.25 | |||
| $7.42 | $7.42 | $6.97 | $6.52 | $6.57 | $6.57 | ||||
| LINCOLNWAY | 0.50 | 0.50 | 0.05 | -0.13 | -0.18 | -0.16 | |||
| $7.27 | $7.27 | $6.82 | $6.64 | $6.64 | $6.66 | ||||
| SINCLAIR | 0.10 | -0.35 | -0.3 | ||||||
| $6.87 | $6.42 | $6.52 | |||||||
| PINELAKE | 0.20 | 0.20 | 0.20 | -0.25 | -0.28 | -0.24 | -0.38 | ||
| $6.97 | $6.97 | $6.97 | $6.52 | $6.54 | $6.58 | $5.79 | |||
| MASON CITY | 0.80 | 0.8 | 0.1 | -0.2 | -0.25 | -0.2 | |||
| $7.57 | $7.57 | $6.87 | $6.57 | $6.57 | $6.62 | ||||
| CHARLES CITY | 0.75 | -0.25 | -0.22 | -0.24 | -0.24 | ||||
| $7.52 | $6.52 | $6.55 | $6.58 | $6.58 | |||||
| HANLONTOWN | 0.80 | -0.22 | -0.17 | -0.18 | -0.18 | ||||
| $7.57 | $6.55 | $6.60 | $6.64 | $6.64 | |||||
| SOYBEANS | |||||||||
| BY 9/23 | LH SEP | NC22 | DEC | JAN | MAR | NC23 | |||
| Bman/Crad/ | -0.65 | -0.65 | -0.65 | -0.70 | -0.65 | -0.65 | -0.80 | ||
| Gbrook/GrnMt/Midway | $13.61 | $13.61 | $13.61 | $13.62 | $13.67 | $13.69 | $12.81 | ||
| Lisc/Haverhill | -0.65 | -0.65 | -0.65 | -0.70 | -0.65 | -0.65 | -0.80 | ||
| $13.61 | $13.61 | $13.61 | $13.62 | $13.67 | $13.69 | $12.81 | |||
| CedarF/Jesup/Hud/LaPo | -0.65 | -0.65 | -0.65 | -0.70 | -0.65 | -0.65 | -0.80 | ||
| $13.61 | $13.61 | $13.61 | $13.62 | $13.67 | $13.69 | $12.81 | |||
| IOWA FALLS | 0.40 | -0.30 | -0.30 | -0.30 | -0.25 | -0.20 | |||
| $14.66 | $13.96 | $13.96 | $14.02 | $14.07 | $14.14 | ||||
| CEDAR RAPIDS | 0.50 | -0.25 | -0.25 | -0.15 | -0.15 | -0.15 | |||
| $14.76 | $14.01 | $14.01 | $14.17 | $14.17 | $14.19 | ||||
| DES MOINES | 0.00 | 0.00 | -0.25 | -0.15 | -0.15 | -0.15 | |||
| $14.26 | $14.26 | $14.01 | $14.17 | $14.17 | $14.19 | ||||
| SHELL ROCK SOY | -0.35 | -0.2 | -0.15 | ||||||
| #VALUE! | #VALUE! | $13.91 | #VALUE! | $14.12 | $14.19 | ||||
| AGP | 0.10 | -0.35 | -0.3 | ||||||
| $14.36 | $13.91 | $13.96 | |||||||
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.