Daily Commentary
PLEASE SEE THE LINK BELOW ON DETAILS FOR OUR UPCOMING GOLF OUTING
Thursday June 3rd
Corn: -13 to -6 ¼
Corn had an erratic session that saw it trade both sides of unchanged before ending with moderate losses. July futures lost 13 cents on the day after trading in a range of over 30 cents. The December contract finished just over 6 cents lower while finishing over 15 cents below the early high. Overnight strength was said to be on the heels of a strong Wheat market, but that faltered through the session. Weather forecasts also turned wetter and cooler in the mid-day update, pressing the markets further. Weekly ethanol numbers were solid with production back to 2019 levels on strong margins nearby.
Soybeans: -13 ¼ to -10 ¼
The soybean market also traded both sides of unchanged through the session before a weaker close. Nearby soybean lost over 13 cents on the day and finished 40 cents below the early high. New crop values were off a dime in a trading range of 40 cents. Soybean products were also lower today with soybean oil closing lower after posting a new contract high. News from China was bearish today with both hog margins reported down sharply from earlier levels along with soybean crush margins remaining in the red. The delayed weekly export sales report is out tomorrow morning with the trade expecting just small old crop numbers.
| 6/3/2021 | |||||||||
| Processor Bids and Hours are subject to change, please call before hauling | |||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | ||
| ADM CR | 5-7 | 7-12 | 7-12 | ||||||
| EDDYVILLE | 6-5 | ||||||||
| STARCH | 7-3 | ||||||||
| PENFORD | 730-11 | ||||||||
| FORT DODGE | 7-2 | ||||||||
| JEWELL | 730-4 | ||||||||
| SEABOARD | |||||||||
| FAIRBANK / FH | 6-4 | ||||||||
| IOWA FALLS / FH | 7-5 | ||||||||
| SHELLROCK / FH | 7-5 | ||||||||
| LINCOLN WAY | 8-4 | ||||||||
| PINELAKE | |||||||||
| IOWA FALLS/CARGIL | APPT | ||||||||
| CEDAR RAPIDS/CARGIL | APPT | ||||||||
| ADM DM | 6-6 | 7-3 | |||||||
| AGP EAGLE GROVE | |||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/31/2021 | 20.90% | ||||
| JULY 21 | $6.62 | $15.49 | |||||||
| AUG 21 | $15.04 | ||||||||
| DEC / NOV 21 | $5.66 | $14.03 | |||||||
| JAN 22 | $14.05 | ||||||||
| MAR 22 | $5.73 | $13.86 | |||||||
| CORN | |||||||||
| JUNE | JULY | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/Gbrook | 0.10 | 0.10 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| GrnMt/Mill Junc | $6.72 | $6.72 | $5.36 | $5.36 | $5.38 | $5.38 | |||
| Liscomb | 0.10 | 0.10 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.72 | $6.72 | $5.36 | $5.36 | $5.43 | $5.43 | ||||
| Haverhill | 0.17 | 0.17 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.79 | $6.79 | $5.36 | $5.36 | $5.38 | $5.38 | ||||
| Midway | 0.15 | 0.15 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.77 | $6.77 | $5.36 | $5.36 | $5.38 | $5.38 | ||||
| Hudson/LaPorte | 0.12 | 0.12 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.77 | $6.74 | $5.36 | $5.36 | $5.38 | $5.38 | ||||
| Cedar Falls | 0.15 | 0.15 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.77 | $6.77 | $5.36 | $5.36 | $5.43 | $5.43 | ||||
| Jesup | 0.22 | 0.22 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $6.84 | $6.84 | $5.41 | $5.41 | $5.48 | $5.48 | ||||
| EDDYVILLE | 0.25 | 0.35 | -0.15 | -0.10 | -0.14 | -0.10 | |||
| $6.87 | $6.97 | $5.51 | $5.56 | $5.59 | $5.63 | ||||
| CEDAR RAPIDS | 0.40 | 0.38 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $7.02 | $7.00 | $5.51 | $5.59 | $5.59 | $5.66 | ||||
| FORT DODGE | 0.28 | 0.35 | 0.05 | -0.05 | 0.05 | -0.05 | |||
| $6.90 | $6.97 | $5.71 | $5.61 | $5.78 | $5.68 | ||||
| JEWELL | 0.15 | 0.15 | -0.38 | -0.38 | -0.35 | ||||
| $6.77 | $6.77 | $5.28 | $5.28 | $5.38 | |||||
| FAIRBANK | 0.25 | 0.25 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $6.87 | $6.87 | $5.41 | $5.46 | $5.48 | $5.48 | ||||
| SEABOARD | 0.35 | -0.20 | -0.10 | ||||||
| $6.62 | $6.97 | $5.46 | $5.56 | ||||||
| IOWA FALLS | 0.25 | 0.30 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $6.87 | $6.92 | $5.41 | $5.51 | $5.43 | $5.48 | ||||
| SHELLROCK | 0.25 | 0.25 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $6.87 | $6.87 | $5.41 | $5.46 | $5.48 | $5.48 | ||||
| LINCOLNWAY | 0.23 | 0.26 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $6.85 | $6.88 | $5.42 | $5.51 | $5.50 | $5.54 | ||||
| SINCLAIR | 0.25 | 0.25 | -0.28 | -0.25 | |||||
| $6.87 | $6.87 | $5.38 | $5.48 | ||||||
| PINELAKE | 0.30 | 0.35 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $6.92 | $6.97 | $5.46 | $5.51 | $5.55 | $5.59 | ||||
| MASON CITY | 0.25 | 0.25 | -0.28 | ||||||
| $6.87 | $6.87 | 5.38 | |||||||
| . | . | . | . | . | |||||
| CHARLES CITY | 0.23 | 0.25 | -0.20 | -0.15 | -0.35 | -0.35 | |||
| $6.85 | $6.87 | $5.46 | $5.51 | $5.38 | $5.38 | ||||
| HANLONTOWN | 0.15 | 0.18 | -0.34 | -0.28 | -0.32 | -0.30 | |||
| $6.77 | $6.80 | $5.32 | $5.38 | $5.41 | $5.43 | ||||
| SOYBEANS | |||||||||
| JUNE | JULY | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/ | -0.25 | -0.25 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.24 | $15.24 | $13.38 | $13.40 | $13.40 | $13.21 | |||
| Lisc/Haverhill | -0.25 | -0.25 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.24 | $15.24 | $13.38 | $13.40 | $13.40 | $13.21 | ||||
| CedarF/Jesup/Hud/LaPo | -0.25 | -0.25 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.24 | $15.24 | $13.38 | $13.40 | $13.40 | $13.21 | ||||
| IOWA FALLS | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.24 | $15.34 | $13.63 | $13.75 | $13.61 | $13.61 | ||||
| CEDAR RAPIDS | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.24 | $15.34 | $13.63 | $13.75 | $13.61 | $13.61 | ||||
| DES MOINES | 0.15 | 0.15 | -0.40 | -0.30 | -0.30 | ||||
| $15.64 | $15.64 | $13.63 | $13.75 | $13.56 | |||||
| AGP | 0.21 | 0.26 | |||||||
| $15.25 | $15.30 | ||||||||
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.