Daily commentary
Tuesday June 1st
Corn: +32 to +31 ½
The corn market traded higher though the entire session and finished with sharp gains. Both the July and December contracts finished near 32 cents higher after briefly trading at the 40-cent limit shortly after the morning break. Beginning of the month buying seemed to be the story today along with supportive weather. The brief cold snap over the weekend was likely more of a soybean story, but much of the Western corn-belt is expected to see hot and dry conditions this week with much of that area already too dry. Weekly export loadings were reported at a very solid 80.7 million bushels with China taking over 40 million bushels. This was the strongest total in 4 weeks and above the level needed to meet the current USDA forecast. China still has somewhere near 350 million bushels of unshipped corn at this point.
Soybeans: +18 to +24 ¼
The soybean market was also throughout the day before ending strong but well off the early highs. Nearby values gained 18 cents on the day after trading nearly 50 cents higher early in the session. New crop values gained just over 24 cents while also finished well below the early high. Soybean products were mixed higher today with soybean oil gaining 160 pts. Weekend frost was reported to damage some Northern soybeans with talk that replanting has already begun. The reports as to the extent of the damage very but overall is expected to be limited. Soybean weekly export shipments were with expectations at 7.1 million bushels. This pace is very near what is needed to meet the current estimate.
| 6/1/2021 | |||||||||
| 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 | 7-12 | 7-12 | ||||
| EDDYVILLE | 6-5 | ||||||||
| STARCH | 6-5 | ||||||||
| PENFORD | 7-3 | 7-3 | 7-3 | ||||||
| FORT DODGE | 7-11:30 | 7-11:30 | 7-11:30 | ||||||
| JEWELL | 6-6 | 6-6 | 6-6 | TBD | |||||
| SEABOARD | 7:30-4 | 7:30-4 | 7:30-4 | ||||||
| FAIRBANK / FH | 6-4 | 6-4 | 6-4 | ||||||
| IOWA FALLS / FH | 7-5 | 7-5 | 7-5 | ||||||
| SHELLROCK / FH | CLOSED | CLOSED | CLOSED | ||||||
| LINCOLN WAY | |||||||||
| PINELAKE | 8-4 | 8-4 | 8-4 | ||||||
| IOWA FALLS/CARGIL | APPT | APPT | APPT | ||||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | APPT | ||||||
| ADM DM | 6-6 | 6-6 | 6-6 | 7-3 | |||||
| AGP EAGLE GROVE | |||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/31/2021 | 20.90% | ||||
| JULY 21 | $6.89 | $15.48 | |||||||
| AUG | $15.01 | ||||||||
| DEC / NOV 21 | $5.77 | $13.97 | |||||||
| JAN 22 | $13.98 | ||||||||
| MAR 22 | $5.83 | $13.74 | |||||||
| CORN | |||||||||
| JUNE | JULY | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/Gbrook | 0.10 | 0.10 | -0.30 | -0.35 | -0.35 | -0.35 | |||
| GrnMt/Mill Junc | $6.99 | $6.99 | $5.47 | $5.42 | $5.48 | $5.48 | |||
| Liscomb | 0.10 | 0.10 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.99 | $6.99 | $5.47 | $5.47 | $5.53 | $5.53 | ||||
| Haverhill | 0.17 | 0.17 | -0.30 | -0.35 | -0.35 | -0.35 | |||
| $7.06 | $7.06 | $5.47 | $5.42 | $5.48 | $5.48 | ||||
| Midway | 0.15 | 0.15 | -0.30 | -0.35 | -0.35 | -0.35 | |||
| $7.04 | $7.04 | $5.47 | $5.42 | $5.48 | $5.48 | ||||
| Hudson/LaPorte | 0.12 | 0.12 | -0.30 | -0.35 | -0.35 | -0.35 | |||
| $7.04 | $7.01 | $5.47 | $5.42 | $5.48 | $5.48 | ||||
| Cedar Falls | 0.15 | 0.15 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $7.04 | $7.04 | $5.47 | $5.47 | $5.53 | $5.53 | ||||
| Jesup | 0.22 | 0.22 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $7.11 | $7.11 | $5.52 | $5.52 | $5.58 | $5.58 | ||||
| EDDYVILLE | 0.25 | 0.35 | -0.15 | -0.10 | -0.14 | -0.10 | |||
| $7.14 | $7.24 | $5.62 | $5.67 | $5.69 | $5.73 | ||||
| CEDAR RAPIDS | 0.25 | 0.30 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $7.14 | $7.19 | $5.62 | $5.70 | $5.69 | $5.76 | ||||
| FORT DODGE | 0.30 | 0.35 | 0.05 | -0.05 | 0.05 | -0.05 | |||
| $7.19 | $7.24 | $5.82 | $5.72 | $5.88 | $5.78 | ||||
| JEWELL | 0.18 | 0.18 | -0.38 | -0.38 | -0.35 | ||||
| $7.07 | $7.07 | $5.39 | $5.39 | $5.48 | |||||
| FAIRBANK | 0.35 | 0.35 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $7.24 | $7.24 | $5.52 | $5.57 | $5.58 | $5.58 | ||||
| SEABOARD | 0.35 | 0.35 | -0.20 | -0.10 | |||||
| $7.24 | $7.24 | $5.57 | $5.67 | ||||||
| IOWA FALLS | 0.30 | 0.35 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $7.19 | $7.24 | $5.52 | $5.62 | $5.53 | $5.58 | ||||
| SHELLROCK | 0.30 | 0.35 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $7.19 | $7.24 | $5.52 | $5.57 | $5.58 | $5.58 | ||||
| LINCOLNWAY | 0.23 | 0.26 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $7.12 | $7.15 | $5.53 | $5.62 | $5.60 | $5.64 | ||||
| SINCLAIR | 0.25 | 0.25 | -0.28 | -0.25 | |||||
| $7.14 | $7.14 | $5.49 | $5.58 | ||||||
| PINELAKE | 0.30 | 0.35 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $7.19 | $7.24 | $5.57 | $5.62 | $5.65 | $5.69 | ||||
| MASON CITY | 0.30 | 0.30 | -0.28 | ||||||
| $7.19 | $7.19 | 5.49 | |||||||
| . | . | . | . | . | |||||
| CHARLES CITY | 0.25 | 0.30 | -0.20 | -0.15 | -0.35 | -0.35 | |||
| $7.14 | $7.19 | $5.57 | $5.62 | $5.48 | $5.48 | ||||
| HANLONTOWN | 0.15 | 0.18 | -0.34 | -0.28 | -0.32 | -0.30 | |||
| 7.04 | $7.07 | $5.43 | $5.49 | $5.51 | $5.53 | ||||
| SOYBEANS | |||||||||
| JUNE | JULY | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/ | -0.15 | -0.15 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.33 | $15.33 | $13.32 | $13.33 | $13.33 | $13.09 | |||
| Lisc/Haverhill | -0.10 | -0.10 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.38 | $15.38 | $13.32 | $13.33 | $13.33 | $13.09 | ||||
| CedarF/Jesup/Hud/LaPo | -0.15 | -0.15 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.33 | $15.33 | $13.32 | $13.33 | $13.33 | $13.09 | ||||
| IOWA FALLS | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.21 | $15.31 | $13.57 | $13.68 | $13.49 | $13.49 | ||||
| CEDAR RAPIDS | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.21 | $15.31 | $13.57 | $13.68 | $13.49 | $13.49 | ||||
| DES MOINES | 0.15 | 0.15 | -0.40 | -0.30 | -0.30 | ||||
| $15.63 | $15.63 | $13.57 | $13.68 | $13.44 | |||||
| AGP | -0.25 | ||||||||
| $15.23 | $15.48 | ||||||||
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.