Daily Commentary
Friday June 11th
Corn: -14 ½ to -6 ¾
The corn market traded lower for much of today’s session before finishing with moderate losses. The July contract finished the day near 15 cents lower after trading in a 30-cent range. The December contract lost nearly 7 cents as the corn spreads were on the defensive. For the week, July futures were just slightly higher while new crop values gained 18 cents. Hot and dry weather across the Northern corn-belt helped to drive values early in the week with better-than-expected rains falling across parts of the belt weighing on today’s trade. Yesterday’s WASDE update was supportive with a larger than expected cut to the old crop corn ending stocks. Monday will bring an updated conditions report with some chatter that the G/E rating could drop 5-7%.
Soybeans: -35 ½ to -20 ¾
After trading higher in the overnight hours, soybeans sold off and finished the day with sharp losses. Nearby values ended the day over 35 cents lower and 43 cents below the overnight high. Soybean spreads continued to fall apart with new crop values losing just over 20 cents. Soybean products were mixed today with soybean oil posting sharp losses. There was talk today from Washington that the EPA may look at adjusting renewable fuel standard which weighed heavily on the soy oil market. Nearby soybeans finished the week over 75 cents lower with new crop values able to post a small gain. Yesterday’s UDSA reports helped to weigh on old crop values with the somewhat surprising increase in old crop stocks.
| 6/11/2021 | |||||||||||
| 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 | 6-5 | 6-5 | |||||||||
| STARCH | 7-3 | 7-3 | |||||||||
| PENFORD | 730-11 | 730-11 | |||||||||
| FORT DODGE | 630-430 | 630-430 | |||||||||
| JEWELL | 730-4 | 730-4 | |||||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-4 | |||||||||
| IOWA FALLS / FH | 7-5 | 7-5 | |||||||||
| SHELLROCK / FH | CLOSES | CLSOED | CLOSED | ||||||||
| 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 | 7-3 | |||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 6/7/2021 | 19.90% | ||||||
| JULY 21 | $6.84 | $15.08 | |||||||||
| AUG 21 | $14.82 | ||||||||||
| SEP 21 | $6.30 | ||||||||||
| DEC / NOV 21 | $6.10 | $14.39 | |||||||||
| JAN 22 | $14.40 | ||||||||||
| MAR 22 | $6.16 | $14.15 | |||||||||
| 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 | $6.91 | $6.91 | $6.50 | $5.80 | $5.80 | $5.80 | $5.81 | $5.81 | |||
| Liscomb | 0.07 | 0.07 | 0.20 | -0.30 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.91 | $6.91 | $6.50 | $5.80 | $5.80 | $5.80 | $5.86 | $5.86 | ||||
| Haverhill | 0.14 | 0.14 | 0.27 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.98 | $6.98 | $6.57 | $5.80 | $5.80 | $5.80 | $5.81 | $5.81 | ||||
| Midway | 0.12 | 0.12 | 0.25 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.96 | $6.96 | $6.55 | $5.80 | $5.80 | $5.80 | $5.81 | $5.81 | ||||
| Hudson/LaPorte | 0.09 | 0.09 | 0.22 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.96 | $6.93 | $6.52 | $5.80 | $5.80 | $5.80 | $5.81 | $5.81 | ||||
| Cedar Falls | 0.12 | 0.12 | 0.25 | -0.30 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.96 | $6.96 | $6.55 | $5.80 | $5.80 | $5.80 | $5.86 | $5.86 | ||||
| Jesup | 0.19 | 0.19 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $7.03 | $7.03 | $6.62 | $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 | |||
| $7.09 | $7.19 | $7.10 | $6.30 | $5.95 | $6.05 | $6.02 | $6.06 | ||||
| CEDAR RAPIDS | 0.38 | 0.35 | 0.70 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $7.22 | $7.19 | $7.00 | $6.70 | $5.95 | $6.03 | $6.02 | $6.09 | ||||
| FORT DODGE | 0.20 | 0.25 | 0.80 | 0.50 | 0.00 | -0.05 | -0.07 | -0.05 | |||
| $7.04 | $7.09 | $7.10 | $6.80 | $6.10 | $6.05 | $6.09 | $6.11 | ||||
| JEWELL | 0.18 | 0.22 | 0.25 | 0.86 | -0.24 | -0.2 | |||||
| $7.02 | $7.06 | $7.09 | $6.96 | $5.86 | $5.90 | $6.16 | |||||
| FAIRBANK | 0.20 | 0.20 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $6.50 | $6.50 | $7.00 | $7.00 | $5.85 | $5.90 | $5.91 | $5.91 | ||||
| SEABOARD | 0.25 | 0.70 | -0.20 | -0.10 | |||||||
| $6.84 | $7.09 | $7.00 | $5.90 | $6.00 | |||||||
| IOWA FALLS | 0.20 | 0.25 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $7.04 | $7.09 | $7.00 | $7.00 | $5.85 | $5.95 | $5.86 | $5.91 | ||||
| SHELLROCK | 0.10 | 0.15 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | |||
| $6.94 | $6.99 | $7.00 | $7.00 | $5.85 | $5.90 | $5.91 | $5.91 | ||||
| LINCOLNWAY | 0.13 | 0.16 | 0.21 | 0.10 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $6.97 | $7.00 | $7.05 | $6.20 | $5.86 | $5.95 | $5.93 | $5.97 | ||||
| SINCLAIR | 0.20 | 0.20 | -0.28 | -0.25 | |||||||
| $7.04 | $7.04 | $5.82 | $5.91 | ||||||||
| PINELAKE | 0.25 | 0.25 | 0.30 | 0.33 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $7.09 | $7.09 | $7.14 | $7.17 | $5.90 | $5.95 | $5.98 | $6.02 | ||||
| MASON CITY | 0.25 | 0.25 | 0.75 | -0.28 | |||||||
| $7.09 | $7.09 | $7.05 | 5.82 | ||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.12 | 0.16 | 0.75 | 0.12 | -0.20 | -0.15 | -0.35 | -0.35 | |||
| $6.96 | $7.00 | $7.05 | $6.42 | $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 | |||
| $6.96 | $6.99 | $7.05 | $7.05 | $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 | $14.92 | $14.92 | $14.92 | $13.74 | $13.74 | $13.75 | $13.75 | $13.50 | |||
| Lisc/Haverhill | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $14.92 | $14.92 | $14.92 | $13.74 | $13.74 | $13.75 | $13.75 | $13.50 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $14.92 | $14.92 | $14.92 | $13.74 | $13.74 | $13.75 | $13.75 | $13.50 | ||||
| IOWA FALLS | 0.20 | 0.30 | 0.30 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $15.02 | $15.12 | $15.12 | $14.49 | $13.99 | $14.10 | $13.90 | $13.90 | ||||
| CEDAR RAPIDS | 0.10 | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $14.92 | $15.02 | $15.12 | $13.99 | $14.10 | $13.90 | $13.90 | |||||
| DES MOINES | 0.15 | 0.15 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | ||||
| $15.23 | $15.23 | $15.02 | $14.39 | $13.99 | $14.10 | $13.85 | |||||
| AGP | 0.21 | 0.26 | 0.26 | ||||||||
| $15.03 | $15.08 | $15.08 | |||||||||
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.