Daily Commentary
Friday June 4th
Corn: +20 ¾ to +25
The corn market rallied throughout today’s session and finished sharply higher. July futures finished the day just over 20 cents higher and finishing near the high of the session. Corn spreads were weaker again today with the December contract gaining 25 cents. For the week, the July contract gained over 25 cents with December futures adding over 45 cents. Weather was a driver this week as we traded both frost damage and temperatures approaching 100 degrees. Yesterday’s wetter forecast turned drier today helping to push the market higher. Corn demand remains strong with today’s weekly export total on the higher end of estimates at nearly 21 million bushels.
Soybeans: +34 ½ to +32
The soybean market also had a very strong day with values firmer throughout. Both the old and new crop contracts gained over 30 cents but were unable to trade above yesterday’s high. Weekly gains were over 50 cents on nearby values with new crop gains of over 60 cents. Soybean products were also higher today with soybean oil posting a new high. Soybean meal continues to be the laggard of the soy complex as it finished below the $400 level again today. Soybean weekly export sales were reported at just 650,000 bushels as old crop sales continue to seasonally decline. Soybean planting was expected to be mostly finished up this week with Monday likely bringing the first soy condition report from the USDA.
| 6/4/2021 | |||||||||
| 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 | 7-12 | 7-12 | |||||
| EDDYVILLE | 6-3 | CLOSED | 6-12 | ||||||
| STARCH | 7-3 | 7-3 | |||||||
| PENFORD | 7-4 | 7-4 | |||||||
| FORT DODGE | 7-4 | 7-4 | |||||||
| JEWELL | 7:30-4 | 7:30-4 | |||||||
| SEABOARD | |||||||||
| FAIRBANK / FH | 6-4 | 6-4 | 6-4 | 6-4 | 6-4 | ||||
| IOWA FALLS / FH | 7-5 | 7-12 | 7-5 | 7-5 | 7-5 | ||||
| SHELLROCK / FH | 7-5 | 7-5 | 7-5 | 7-5 | 7-5 | ||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | 8-4 | 8-4 | ||||
| PINELAKE | 0-Jan | ||||||||
| IOWA FALLS/CARGIL | APPT | APPT | 0-Jan | ||||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | CLOSED | 0-Jan | |||||
| ADM DM | 6-6 | 6-6 | 0-Jan | 7-3 | |||||
| AGP EAGLE GROVE | |||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/31/2021 | 20.90% | ||||
| JULY 21 | $6.83 | $15.84 | |||||||
| AUG 21 | $15.37 | ||||||||
| DEC / NOV 21 | $5.91 | $14.35 | |||||||
| JAN 22 | $14.35 | ||||||||
| MAR 22 | $5.98 | $14.07 | |||||||
| 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 | $6.93 | $6.93 | $5.61 | $5.61 | $5.63 | $5.63 | |||
| Liscomb | 0.10 | 0.10 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.93 | $6.93 | $5.61 | $5.61 | $5.68 | $5.68 | ||||
| Haverhill | 0.17 | 0.17 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $7.00 | $7.00 | $5.61 | $5.61 | $5.63 | $5.63 | ||||
| Midway | 0.15 | 0.15 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.98 | $6.98 | $5.61 | $5.61 | $5.63 | $5.63 | ||||
| Hudson/LaPorte | 0.12 | 0.12 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.98 | $6.95 | $5.61 | $5.61 | $5.63 | $5.63 | ||||
| Cedar Falls | 0.15 | 0.15 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.98 | $6.98 | $5.61 | $5.61 | $5.68 | $5.68 | ||||
| Jesup | 0.22 | 0.22 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $7.05 | $7.05 | $5.66 | $5.66 | $5.73 | $5.73 | ||||
| EDDYVILLE | 0.25 | 0.35 | -0.15 | -0.10 | -0.14 | -0.10 | |||
| $7.08 | $7.18 | $5.76 | $5.81 | $5.84 | $5.88 | ||||
| CEDAR RAPIDS | 0.40 | 0.38 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $7.23 | $7.21 | $5.76 | $5.84 | $5.84 | $5.91 | ||||
| FORT DODGE | 0.22 | 0.25 | 0.05 | -0.05 | 0.05 | -0.05 | |||
| $7.05 | $7.08 | $5.96 | $5.86 | $6.03 | $5.93 | ||||
| JEWELL | 0.15 | 0.15 | -0.38 | -0.38 | -0.35 | ||||
| $6.98 | $6.98 | $5.53 | $5.53 | $5.63 | |||||
| FAIRBANK | 0.20 | 0.20 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $7.03 | $7.03 | $5.66 | $5.71 | $5.73 | $5.73 | ||||
| SEABOARD | 0.35 | -0.20 | -0.10 | ||||||
| $6.83 | $7.18 | $5.71 | $5.81 | ||||||
| IOWA FALLS | 0.20 | 0.25 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $7.03 | $7.08 | $5.66 | $5.76 | $5.68 | $5.73 | ||||
| SHELLROCK | 0.25 | 0.25 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $7.08 | $7.08 | $5.66 | $5.71 | $5.73 | $5.73 | ||||
| LINCOLNWAY | 0.23 | 0.26 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $7.06 | $7.09 | $5.67 | $5.76 | $5.75 | $5.79 | ||||
| SINCLAIR | 0.25 | 0.25 | -0.28 | -0.25 | |||||
| $7.08 | $7.08 | $5.63 | $5.73 | ||||||
| PINELAKE | 0.25 | 0.30 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $7.08 | $7.13 | $5.71 | $5.76 | $5.80 | $5.84 | ||||
| MASON CITY | 0.25 | 0.25 | -0.28 | ||||||
| $7.08 | $7.08 | 5.63 | |||||||
| . | . | . | . | . | |||||
| CHARLES CITY | 0.23 | 0.25 | -0.20 | -0.15 | -0.35 | -0.35 | |||
| $7.06 | $7.08 | $5.71 | $5.76 | $5.63 | $5.63 | ||||
| HANLONTOWN | 0.15 | 0.18 | -0.34 | -0.28 | -0.32 | -0.30 | |||
| $6.98 | $7.01 | $5.57 | $5.63 | $5.66 | $5.68 | ||||
| SOYBEANS | |||||||||
| JUNE | JULY | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/ | -0.25 | -0.25 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.59 | $15.59 | $13.70 | $13.70 | $13.70 | $13.42 | |||
| Lisc/Haverhill | -0.25 | -0.25 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.59 | $15.59 | $13.70 | $13.70 | $13.70 | $13.42 | ||||
| CedarF/Jesup/Hud/LaPo | -0.25 | -0.25 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.59 | $15.59 | $13.70 | $13.70 | $13.70 | $13.42 | ||||
| IOWA FALLS | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.57 | $15.67 | $13.95 | $14.05 | $13.82 | $13.82 | ||||
| CEDAR RAPIDS | 0.10 | 0.20 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.47 | $15.57 | $13.95 | $14.05 | $13.82 | $13.82 | ||||
| DES MOINES | 0.15 | 0.15 | -0.40 | -0.30 | -0.30 | ||||
| $15.99 | $15.99 | $13.95 | $14.05 | $13.77 | |||||
| AGP | 0.21 | 0.26 | |||||||
| $15.58 | $15.63 | ||||||||
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.