Daily Commentary
Thursday June 10th
Corn: +8 ¼ to +6 ¾
The corn market traded higher throughout much of the session today before ending with a moderate gain. July futures finished just over 8 cents higher after trading in an over 25 cents range. The December contract added nearly 7 cents and traded to its highest level in a month. The June supply and demand update was the news of the day with the USDA giving the corn market a slightly bullish surprise. Traders were looking for a cut in ending stocks of near 50 million bushels, but the actual numbers showed a drop of 150 million bushels. Increased demand of 75 million bushels was seen in both ethanol and exports. With those reductions, ending stocks fell to 1.107 billion bushels, the lowest since 2012/13. The trade will now turn its sites to weather forecasts and the looming June acreage report at the end of the month.
Soybeans: -18 ½ to +11 ¼
Soybean had a volatile day that saw them trade both sides of unchanged before ending mixed. Nearby soybeans lost over 18 cents on the day while finishing 32 cents off the early high. New crop values gained over 11 cents as soybean spreads were sharply lower. Soybean products were also lower today as meal continues to weigh on the soy complex. Many traders thought the USDA would leave the soy balance sheet unchanged today, but we were given a surprise cut in soybean crush. The crush forecast dropped 15 million bushels, increasing the soy ending stocks to 135 million bushels. The USDA did also make a slight revision in increasing the size of the Brazilian soy crop.
| 6/10/2021 | |||||||||||
| 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 | 6-1 | ||||||||||
| STARCH | 7-3 | 6-9 | |||||||||
| PENFORD | 730-11 | 730-1030 | |||||||||
| FORT DODGE | 7-430 | 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 | 7-3 | |||||||||
| 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 | $6.99 | $15.44 | |||||||||
| AUG 21 | $15.10 | ||||||||||
| SEP 21 | $6.38 | ||||||||||
| DEC / NOV 21 | $6.16 | $14.59 | |||||||||
| JAN 22 | $14.61 | ||||||||||
| MAR 22 | $6.22 | $14.33 | |||||||||
| CORN | |||||||||||
| JUNE | JULY | AUG | SEP | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/Gbrook | 0.07 | 0.07 | 0.20 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| GrnMt/Mill Junc | $7.06 | $7.06 | $6.58 | $5.86 | $5.86 | $5.86 | $5.87 | $5.87 | |||
| Liscomb | 0.07 | 0.07 | 0.20 | -0.30 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $7.06 | $7.06 | $6.58 | $5.86 | $5.86 | $5.86 | $5.92 | $5.92 | ||||
| Haverhill | 0.14 | 0.14 | 0.27 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $7.13 | $7.13 | $6.65 | $5.86 | $5.86 | $5.86 | $5.87 | $5.87 | ||||
| Midway | 0.12 | 0.12 | 0.25 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $7.11 | $7.11 | $6.63 | $5.86 | $5.86 | $5.86 | $5.87 | $5.87 | ||||
| Hudson/LaPorte | 0.09 | 0.09 | 0.22 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $7.11 | $7.08 | $6.60 | $5.86 | $5.86 | $5.86 | $5.87 | $5.87 | ||||
| Cedar Falls | 0.12 | 0.12 | 0.25 | -0.30 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $7.11 | $7.11 | $6.63 | $5.86 | $5.86 | $5.86 | $5.92 | $5.92 | ||||
| Jesup | 0.19 | 0.19 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $7.18 | $7.18 | $6.70 | $5.86 | $5.91 | $5.91 | $5.97 | $5.97 | ||||
| EDDYVILLE | 0.25 | 0.35 | 0.80 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | |||
| $7.24 | $7.34 | $7.18 | $6.38 | $6.01 | $6.11 | $6.08 | $6.12 | ||||
| CEDAR RAPIDS | 0.42 | 0.40 | 0.80 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $7.41 | $7.39 | $7.18 | $6.78 | $6.01 | $6.09 | $6.08 | $6.15 | ||||
| FORT DODGE | 0.20 | 0.25 | 0.75 | 0.40 | 0.00 | -0.05 | -0.07 | -0.05 | |||
| $7.19 | $7.24 | $7.13 | $6.78 | $6.16 | $6.11 | $6.15 | $6.17 | ||||
| JEWELL | 0.18 | 0.22 | 0.25 | 0.86 | -0.24 | -0.2 | |||||
| $7.17 | $7.21 | $7.24 | $7.02 | $5.92 | $5.96 | $6.22 | |||||
| FAIRBANK | 0.20 | 0.20 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $6.58 | $6.58 | $7.08 | $7.08 | $5.91 | $5.96 | $5.97 | $5.97 | ||||
| SEABOARD | 0.25 | 0.70 | -0.20 | -0.10 | |||||||
| $6.99 | $7.24 | $7.08 | $5.96 | $6.06 | |||||||
| IOWA FALLS | 0.20 | 0.25 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $7.19 | $7.24 | $7.08 | $7.08 | $5.91 | $6.01 | $5.92 | $5.97 | ||||
| SHELLROCK | 0.10 | 0.15 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | |||
| $7.09 | $7.14 | $7.08 | $7.08 | $5.91 | $5.96 | $5.97 | $5.97 | ||||
| LINCOLNWAY | 0.13 | 0.16 | 0.21 | 0.10 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $7.12 | $7.15 | $7.20 | $6.26 | $5.92 | $6.01 | $5.99 | $6.03 | ||||
| SINCLAIR | 0.20 | 0.20 | -0.28 | -0.25 | |||||||
| $7.19 | $7.19 | $5.88 | $5.97 | ||||||||
| PINELAKE | 0.25 | 0.25 | 0.30 | 0.33 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $7.24 | $7.24 | $7.29 | $7.32 | $5.96 | $6.01 | $6.04 | $6.08 | ||||
| MASON CITY | 0.25 | 0.25 | 0.75 | -0.28 | |||||||
| $7.24 | $7.24 | $7.13 | 5.88 | ||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.12 | 0.16 | 0.75 | 0.12 | -0.20 | -0.15 | -0.35 | -0.35 | |||
| $7.11 | $7.15 | $7.13 | $6.50 | $5.96 | $6.01 | $5.87 | $5.87 | ||||
| HANLONTOWN | 0.12 | 0.15 | 0.75 | 0.75 | -0.28 | -0.24 | -0.32 | -0.30 | |||
| $7.11 | $7.14 | $7.13 | $7.13 | $5.88 | $5.92 | $5.90 | $5.92 | ||||
| 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 | $15.20 | $15.20 | $15.20 | $13.94 | $13.94 | $13.96 | $13.96 | $13.68 | |||
| Lisc/Haverhill | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.20 | $15.20 | $15.20 | $13.94 | $13.94 | $13.96 | $13.96 | $13.68 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $15.20 | $15.20 | $15.20 | $13.94 | $13.94 | $13.96 | $13.96 | $13.68 | ||||
| IOWA FALLS | 0.20 | 0.30 | 0.30 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.30 | $15.40 | $15.40 | $14.69 | $14.19 | $14.31 | $14.08 | $14.08 | ||||
| CEDAR RAPIDS | 0.10 | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $15.20 | $15.30 | $15.40 | $14.19 | $14.31 | $14.08 | $14.08 | |||||
| DES MOINES | 0.15 | 0.15 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | ||||
| $15.59 | $15.59 | $15.30 | $14.59 | $14.19 | $14.31 | $14.03 | |||||
| AGP | 0.21 | 0.26 | 0.26 | ||||||||
| $15.31 | $15.36 | $15.36 | |||||||||
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.