Daily Commentary
Wednesday June 9th
Corn: +10 ¾ to +1/4
The corn market spent much of the session trading lower before firming late and finishing higher. July futures led the way for the corn market gaining over a dime on the day after trading range of over 25 cents. The December contract was just fractionally higher as corn spreads were mostly firmer on the day. Today’s energy report showed solid ethanol numbers as production continues to rebound with margins still good but down from recent levels. Tomorrow will bring the monthly WASDE update with traders expecting a small decrease in the corn ending stocks forecast. Ethanol production numbers have been running at a pace that would indicate a small increase in demand with exports hinging on how many bushels does China really take.
Soybeans: -17 ½ to -8 ¾
After trading higher in the overnight hours, the soybean market turned lower and finished the day with modest losses. Nearby values were off over 17 cents on the day and were 30 cents lower at one point. Soybeans spreads were weaker today with new crop values off nearly 9 cents. Soybean products were also lower today with meal and soy oil posting modest losses. Changes are expected to be minimal in tomorrow’s soybean balance sheets with the USDA’s current 120 million bushel ending stocks projection not expected to change. Current economics could suggest that the USDA could possibly increase their import projection tomorrow and increase the ending stocks slightly.
| 6/9/2021 | |||||||||||
| 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 | 7-3 | 7-3 | |||||||
| EDDYVILLE | 6-2 | ||||||||||
| STARCH | 7-3 | 7-3 | |||||||||
| PENFORD | 730-1030 | 730-1030 | |||||||||
| FORT DODGE | 630-4:30 | 630-4:30 | |||||||||
| JEWELL | 730-4 | 730-4 | |||||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-4 | |||||||||
| IOWA FALLS / FH | 7-5 | 7-5 | |||||||||
| SHELLROCK / FH | 7-5 | 7-5 | |||||||||
| LINCOLN WAY | 8-4 | 8-4 | |||||||||
| PINELAKE | |||||||||||
| IOWA FALLS/CARGIL | APPT | APPT | |||||||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | |||||||||
| ADM DM | 6-6 | 6-6 | 7-3 | ||||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 6/7/2021 | 19.90% | ||||||
| JULY 21 | $6.91 | $15.62 | |||||||||
| AUG 21 | $15.23 | ||||||||||
| SEP 21 | $6.32 | ||||||||||
| DEC / NOV 21 | $6.10 | $14.48 | |||||||||
| JAN 22 | $14.50 | ||||||||||
| MAR 22 | $6.16 | $14.23 | |||||||||
| CORN | |||||||||||
| JUNE | JULY | AUG | SEP | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/Gbrook | 0.10 | 0.10 | 0.20 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| GrnMt/Mill Junc | $7.01 | $7.01 | $6.52 | $5.80 | $5.80 | $5.80 | $5.81 | $5.81 | |||
| Liscomb | 0.10 | 0.10 | 0.20 | -0.30 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $7.01 | $7.01 | $6.52 | $5.80 | $5.80 | $5.80 | $5.86 | $5.86 | ||||
| Haverhill | 0.17 | 0.17 | 0.27 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $7.08 | $7.08 | $6.59 | $5.80 | $5.80 | $5.80 | $5.81 | $5.81 | ||||
| Midway | 0.15 | 0.15 | 0.25 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $7.06 | $7.06 | $6.57 | $5.80 | $5.80 | $5.80 | $5.81 | $5.81 | ||||
| Hudson/LaPorte | 0.12 | 0.12 | 0.22 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $7.06 | $7.03 | $6.54 | $5.80 | $5.80 | $5.80 | $5.81 | $5.81 | ||||
| Cedar Falls | 0.15 | 0.15 | 0.25 | -0.30 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $7.06 | $7.06 | $6.57 | $5.80 | $5.80 | $5.80 | $5.86 | $5.86 | ||||
| Jesup | 0.22 | 0.22 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $7.13 | $7.13 | $6.64 | $5.80 | $5.85 | $5.85 | $5.91 | $5.91 | ||||
| EDDYVILLE | 0.25 | 0.35 | 0.80 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | |||
| $7.16 | $7.26 | $7.12 | $6.32 | $5.95 | $6.05 | $6.02 | $6.06 | ||||
| CEDAR RAPIDS | 0.42 | 0.40 | 0.80 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $7.33 | $7.31 | $7.12 | $6.72 | $5.95 | $6.03 | $6.02 | $6.09 | ||||
| FORT DODGE | 0.22 | 0.25 | 0.40 | 0.45 | 0.00 | -0.05 | -0.07 | -0.05 | |||
| $7.13 | $7.16 | $6.72 | $6.77 | $6.10 | $6.05 | $6.09 | $6.11 | ||||
| JEWELL | 0.18 | 0.22 | 0.25 | 0.70 | -0.24 | -0.2 | |||||
| $7.09 | $7.13 | $7.16 | $6.80 | $5.86 | $5.90 | $6.16 | |||||
| FAIRBANK | 0.20 | 0.20 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $6.52 | $6.52 | $7.02 | $7.02 | $5.85 | $5.90 | $5.91 | $5.91 | ||||
| SEABOARD | 0.35 | 0.35 | -0.20 | -0.10 | |||||||
| $6.91 | $7.26 | $7.26 | $5.90 | $6.00 | |||||||
| IOWA FALLS | 0.20 | 0.25 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $7.11 | $7.16 | $7.02 | $7.02 | $5.85 | $5.95 | $5.86 | $5.91 | ||||
| SHELLROCK | 0.20 | 0.20 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | |||
| $7.11 | $7.11 | $7.02 | $7.02 | $5.85 | $5.90 | $5.91 | $5.91 | ||||
| LINCOLNWAY | 0.15 | 0.18 | 0.21 | 0.10 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $7.06 | $7.09 | $7.12 | $6.20 | $5.86 | $5.95 | $5.93 | $5.97 | ||||
| SINCLAIR | 0.20 | 0.20 | -0.28 | -0.25 | |||||||
| $7.11 | $7.11 | $5.82 | $5.91 | ||||||||
| PINELAKE | 0.25 | 0.25 | 0.30 | 0.33 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $7.16 | $7.16 | $7.21 | $7.24 | $5.90 | $5.95 | $5.98 | $6.02 | ||||
| MASON CITY | 0.25 | 0.25 | 0.75 | -0.28 | |||||||
| $7.16 | $7.16 | $7.07 | 5.82 | ||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.20 | 0.20 | 0.75 | 0.12 | -0.20 | -0.15 | -0.35 | -0.35 | |||
| $7.11 | $7.11 | $7.07 | $6.44 | $5.90 | $5.95 | $5.81 | $5.81 | ||||
| HANLONTOWN | 0.12 | 0.15 | 0.75 | 0.75 | -0.28 | -0.24 | -0.32 | -0.30 | |||
| $7.03 | $7.06 | $7.07 | $7.07 | $5.82 | $5.86 | $5.84 | $5.86 | ||||
| SOYBEANS | |||||||||||
| JUNE | JULY | AUG | SEP | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/ | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.33 | $15.33 | $15.33 | $13.83 | $13.83 | $13.85 | $13.85 | $13.58 | |||
| Lisc/Haverhill | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.33 | $15.33 | $15.33 | $13.83 | $13.83 | $13.85 | $13.85 | $13.58 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.33 | $15.33 | $15.33 | $13.83 | $13.83 | $13.85 | $13.85 | $13.58 | ||||
| IOWA FALLS | 0.20 | 0.30 | 0.30 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.43 | $15.53 | $15.53 | $14.58 | $14.08 | $14.20 | $13.98 | $13.98 | ||||
| CEDAR RAPIDS | 0.10 | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $15.33 | $15.43 | $15.53 | $14.08 | $14.20 | $13.98 | $13.98 | |||||
| DES MOINES | 0.15 | 0.15 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | ||||
| $15.77 | $15.77 | $15.43 | $14.48 | $14.08 | $14.20 | $13.93 | |||||
| AGP | 0.21 | 0.26 | 0.26 | ||||||||
| $15.44 | $15.49 | $15.49 | |||||||||
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.