Daily Commentary
Monday June 7th
Corn: -3 ½ to +11 ¼
The corn market had a volatile session that saw it trade sharply higher before fading to a mixed close. July futures lost just over 3 cents on the day but finished 27 cents below the early high. The December contract finished just over 11 cents higher after trading in a range of over 20 cents. The continued hot and dry weather forecasts for much of the Western corn-belt helped to fuel the early rally. Weekly export inspections were disappointing with 55.6 million bushels loaded out. This was the lowest total in 15 weeks with China taking just over 20 million bushels. China still has over 300 million bushels of unshipped bookings. The late afternoon conditions report saw the corn good/excellent rating drop 4 points to 72%.
Soybeans: -23 ½ to +4 ½
The soybean also had a disappoint finish after a very strong overnight trade. Nearby values ended the day over 23 cents lower and over 63 cents below the overnight high. New crop values were able to finish 4 cents higher after trading 45 cents higher overnight. Soybean products were lower on the nearby contracts today with deferred soybean oil values posting small gains. Weather was also the driver to the early soy gains, but the struggling cash markets weighed on the spot futures market. Weekly soybean loadings were reported at 8.7 million bushels which was very near the level of the last several weeks. The current pace does indicate that the US is on target to meet the USDA’s current goal. The initial soybean condition rating was released in this afternoon’s update with 67% of the soybeans rated good/excellent.
| 6/7/2021 | |||||||||
| 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 | 5-7 | 7-3 | 7-3 | |||
| EDDYVILLE | CLOSED | 6-5 | |||||||
| STARCH | 7-3 | 7-3 | |||||||
| PENFORD | 730-12 | WAXY | 730-11 | ||||||
| FORT DODGE | 630-5 | 630-5 | 630-5 | ||||||
| JEWELL | 7:30-4 | 730-4 | 730-4 | ||||||
| SEABOARD | |||||||||
| FAIRBANK / FH | 6-4 | 6-4 | 6-4 | 6-4 | |||||
| IOWA FALLS / FH | 7-12 | 7-5 | 7-5 | 7-5 | |||||
| SHELLROCK / FH | 7-5 | 7-5 | 7-5 | 7-5 | |||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | 8-4 | |||||
| PINELAKE | |||||||||
| IOWA FALLS/CARGIL | APPT | APPT | APPT | APPT | |||||
| CEDAR RAPIDS/CARGIL | APPT | CLOSED | APPT | APPT | |||||
| ADM DM | 6-6 | 6-6 | 6-6 | 6-6 | 7-3 | ||||
| AGP EAGLE GROVE | |||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 6/7/2021 | 19.90% | ||||
| JULY 21 | $6.79 | $15.60 | |||||||
| AUG 21 | $15.22 | ||||||||
| SEP 21 | $6.21 | ||||||||
| DEC / NOV 21 | $6.03 | $14.40 | |||||||
| JAN 22 | $14.41 | ||||||||
| MAR 22 | $6.08 | $14.16 | |||||||
| 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 | $6.89 | $6.89 | $5.73 | $5.73 | $5.73 | $5.73 | |||
| Liscomb | 0.10 | 0.10 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.89 | $6.89 | $5.73 | $5.73 | $5.78 | $5.78 | ||||
| Haverhill | 0.17 | 0.17 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.96 | $6.96 | $5.73 | $5.73 | $5.73 | $5.73 | ||||
| Midway | 0.15 | 0.15 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.94 | $6.94 | $5.73 | $5.73 | $5.73 | $5.73 | ||||
| Hudson/LaPorte | 0.12 | 0.12 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.94 | $6.91 | $5.73 | $5.73 | $5.73 | $5.73 | ||||
| Cedar Falls | 0.15 | 0.15 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.94 | $6.94 | $5.73 | $5.73 | $5.78 | $5.78 | ||||
| Jesup | 0.22 | 0.22 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $7.01 | $7.01 | $5.78 | $5.78 | $5.83 | $5.83 | ||||
| EDDYVILLE | 0.25 | 0.35 | -0.15 | -0.05 | -0.14 | -0.10 | |||
| $7.04 | $7.14 | $5.88 | $5.98 | $5.94 | $5.98 | ||||
| CEDAR RAPIDS | 0.42 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $7.21 | $7.19 | $5.88 | $5.96 | $5.94 | $6.01 | ||||
| FORT DODGE | 0.22 | 0.25 | 0.05 | -0.05 | -0.05 | -0.05 | |||
| $7.01 | $7.04 | $6.08 | $5.98 | $6.03 | $6.03 | ||||
| JEWELL | 0.15 | 0.15 | -0.38 | -0.38 | |||||
| $6.94 | $6.94 | $5.65 | $5.65 | $6.08 | |||||
| FAIRBANK | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $6.91 | $6.91 | $5.78 | $5.83 | $5.83 | $5.83 | ||||
| SEABOARD | 0.35 | -0.20 | -0.10 | ||||||
| $6.79 | $7.14 | $5.83 | $5.93 | ||||||
| IOWA FALLS | 0.20 | 0.25 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $6.99 | $7.04 | $5.78 | $5.88 | $5.78 | $5.83 | ||||
| SHELLROCK | 0.20 | 0.20 | -0.25 | -0.20 | -0.25 | -0.25 | |||
| $6.99 | $6.99 | $5.78 | $5.83 | $5.83 | $5.83 | ||||
| LINCOLNWAY | 0.23 | 0.26 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $7.02 | $7.05 | $5.79 | $5.88 | $5.85 | $5.89 | ||||
| SINCLAIR | 0.25 | 0.27 | -0.28 | -0.25 | |||||
| $7.04 | $7.06 | $5.75 | $5.83 | ||||||
| PINELAKE | 0.25 | 0.30 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $7.04 | $7.09 | $5.83 | $5.88 | $5.90 | $5.94 | ||||
| MASON CITY | 0.25 | 0.25 | -0.28 | ||||||
| $7.04 | $7.04 | 5.75 | |||||||
| . | . | . | . | . | |||||
| CHARLES CITY | 0.23 | 0.25 | -0.20 | -0.15 | -0.35 | -0.35 | |||
| $7.02 | $7.04 | $5.83 | $5.88 | $5.73 | $5.73 | ||||
| HANLONTOWN | 0.15 | 0.18 | -0.34 | -0.28 | -0.32 | -0.30 | |||
| $6.94 | $6.97 | $5.69 | $5.75 | $5.76 | $5.78 | ||||
| SOYBEANS | |||||||||
| JUNE | JULY | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/ | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.32 | $15.32 | $13.75 | $13.76 | $13.76 | $13.51 | |||
| Lisc/Haverhill | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.32 | $15.32 | $13.75 | $13.76 | $13.76 | $13.51 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.32 | $15.32 | $13.75 | $13.76 | $13.76 | $13.51 | ||||
| IOWA FALLS | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.42 | $15.52 | $14.00 | $14.11 | $13.91 | $13.91 | ||||
| CEDAR RAPIDS | 0.10 | 0.20 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.32 | $15.42 | $14.00 | $14.11 | $13.91 | $13.91 | ||||
| DES MOINES | 0.15 | 0.15 | -0.40 | -0.30 | -0.30 | ||||
| $15.75 | $15.75 | $14.00 | $14.11 | $13.86 | |||||
| AGP | 0.21 | 0.26 | |||||||
| $15.43 | $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.