Daily Commentary
Monday June 14th
Corn: -25 ¼ to -28 ½
The corn market traded under pressure throughout the session today before ending with sharp losses. July futures ended the day over 25 cents lower and traded over 30 cents lower at one point. The December contract lost over 28 cents after trading near limit lower at one point. Cooler and wetter weather forecasts were seen later this week into next, pushing today’s trade lower. There was also some negative talk from Washington regarding biofuel mandates. Weekly corn export inspections were near the bottom end of estimates at just over 60 million bushels. Considering that the official census numbers have been running further ahead, today’s total was above the level needed to meet the current forecast. Weekly crop ratings showed corn conditions down 4 pts to 68% G/E.
Soybeans: -36 ¼ to -43 1/2
The soybean market was also lower the entire session and finished sharply lower on the day. Nearby soybeans were off over 36 cents on the day after trading over 50 cents lower early in the session. New crop vales ended down over 43 cents while testing the monthly low. Soybean products were also lower with soybean meal losing near $10. As with corn, improving weather forecasts brough a heavy round of fund liquidation today. Weekly soybean export inspections were below expectations at less than 5 million bushels. Tomorrow will bring NOPA’s May crush report with the trade expecting crush down 5 million bushels from last year. The late afternoon report did show soybean conditions falling 5 pts with traders expecting just a 2-3% decline.
| 6/14/2021 | |||||||||||
| 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 | 6-5 | ||||||||||
| STARCH | 7-3 | 7-3 | |||||||||
| PENFORD | 730-11 | WAXY | |||||||||
| FORT DODGE | 6-5 | ||||||||||
| JEWELL | 730-4 | 730-4 | 730-4 | 730-4 | |||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-4 | 6-4 | 6-4 | |||||||
| IOWA FALLS / FH | 7-5 | 7-5 | 7-5 | 7-5 | |||||||
| SHELLROCK / FH | CLSOED | CLOSED | CLOSED | CLOSED | |||||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | 8-4 | |||||||
| PINELAKE | |||||||||||
| IOWA FALLS/CARGIL | APPT | APPT | APPT | APPT | |||||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | APPT | APPT | |||||||
| ADM DM | 6-6 | 6-3 | 6-6 | 6-6 | 7-3 | ||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 6/14/2021 | 20.90% | ||||||
| JULY 21 | $6.59 | $14.72 | |||||||||
| AUG 21 | $14.41 | ||||||||||
| SEP 21 | $5.98 | ||||||||||
| DEC / NOV 21 | $5.81 | $13.95 | |||||||||
| JAN 22 | $13.98 | ||||||||||
| MAR 22 | $5.88 | $13.74 | |||||||||
| 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 | $6.66 | $6.66 | $6.18 | $5.51 | $5.51 | $5.51 | $5.53 | $5.53 | |||
| Liscomb | 0.07 | 0.07 | 0.20 | -0.30 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.66 | $6.66 | $6.18 | $5.51 | $5.51 | $5.51 | $5.58 | $5.58 | ||||
| Haverhill | 0.14 | 0.14 | 0.27 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.73 | $6.73 | $6.25 | $5.51 | $5.51 | $5.51 | $5.53 | $5.53 | ||||
| Midway | 0.12 | 0.12 | 0.25 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.71 | $6.71 | $6.23 | $5.51 | $5.51 | $5.51 | $5.53 | $5.53 | ||||
| Hudson/LaPorte | 0.09 | 0.09 | 0.22 | -0.30 | -0.30 | -0.30 | -0.35 | -0.35 | |||
| $6.71 | $6.68 | $6.20 | $5.51 | $5.51 | $5.51 | $5.53 | $5.53 | ||||
| Cedar Falls | 0.12 | 0.12 | 0.25 | -0.30 | -0.30 | -0.30 | -0.30 | -0.30 | |||
| $6.71 | $6.71 | $6.23 | $5.51 | $5.51 | $5.51 | $5.58 | $5.58 | ||||
| Jesup | 0.19 | 0.19 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $6.78 | $6.78 | $6.30 | $5.51 | $5.56 | $5.56 | $5.63 | $5.63 | ||||
| EDDYVILLE | 0.25 | 0.35 | 0.80 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | |||
| $6.84 | $6.94 | $6.78 | $5.98 | $5.66 | $5.76 | $5.74 | $5.78 | ||||
| CEDAR RAPIDS | 0.38 | 0.35 | 0.70 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $6.97 | $6.94 | $6.68 | $6.38 | $5.66 | $5.74 | $5.74 | $5.81 | ||||
| FORT DODGE | 0.20 | 0.25 | 0.80 | 0.50 | 0.00 | -0.05 | -0.07 | -0.05 | |||
| $6.79 | $6.84 | $6.78 | $6.48 | $5.81 | $5.76 | $5.81 | $5.83 | ||||
| JEWELL | 0.18 | 0.22 | 0.25 | 0.86 | -0.24 | -0.2 | |||||
| $6.77 | $6.81 | $6.84 | $6.67 | $5.57 | $5.61 | $5.88 | |||||
| FAIRBANK | 0.20 | 0.20 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $6.18 | $6.18 | $6.68 | $6.68 | $5.56 | $5.61 | $5.63 | $5.63 | ||||
| SEABOARD | 0.25 | 0.70 | -0.20 | -0.10 | |||||||
| $6.59 | $6.84 | $6.68 | $5.61 | $5.71 | |||||||
| IOWA FALLS | 0.20 | 0.25 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $6.79 | $6.84 | $6.68 | $6.68 | $5.56 | $5.66 | $5.58 | $5.63 | ||||
| SHELLROCK | 0.10 | 0.15 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | |||
| $6.69 | $6.74 | $6.68 | $6.68 | $5.56 | $5.61 | $5.63 | $5.63 | ||||
| LINCOLNWAY | 0.13 | 0.16 | 0.21 | 0.10 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $6.72 | $6.75 | $6.80 | $5.91 | $5.57 | $5.66 | $5.65 | $5.69 | ||||
| SINCLAIR | 0.20 | 0.20 | -0.28 | -0.25 | |||||||
| $6.79 | $6.79 | $5.53 | $5.63 | ||||||||
| PINELAKE | 0.20 | 0.20 | 0.25 | 0.28 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $6.79 | $6.79 | $6.84 | $6.87 | $5.61 | $5.66 | $5.70 | $5.74 | ||||
| MASON CITY | 0.20 | 0.20 | 0.70 | -0.28 | |||||||
| $6.79 | $6.79 | $6.68 | 5.53 | ||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.12 | 0.16 | 0.75 | 0.12 | -0.20 | -0.15 | -0.35 | -0.35 | |||
| $6.71 | $6.75 | $6.73 | $6.10 | $5.61 | $5.66 | $5.53 | $5.53 | ||||
| HANLONTOWN | 0.12 | 0.15 | 0.75 | 0.75 | -0.28 | -0.24 | -0.32 | -0.30 | |||
| $6.71 | $6.74 | $6.73 | $6.73 | $5.53 | $5.57 | $5.56 | $5.58 | ||||
| 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 | $14.51 | $14.51 | $14.51 | $13.30 | $13.30 | $13.33 | $13.33 | $13.09 | |||
| Lisc/Haverhill | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $14.51 | $14.51 | $14.51 | $13.30 | $13.30 | $13.33 | $13.33 | $13.09 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $14.51 | $14.51 | $14.51 | $13.30 | $13.30 | $13.33 | $13.33 | $13.09 | ||||
| IOWA FALLS | 0.20 | 0.30 | 0.30 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $14.61 | $14.71 | $14.71 | $14.05 | $13.55 | $13.68 | $13.49 | $13.49 | ||||
| CEDAR RAPIDS | 0.10 | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $14.51 | $14.61 | $14.71 | $13.55 | $13.68 | $13.49 | $13.49 | |||||
| DES MOINES | 0.15 | 0.15 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | ||||
| $14.87 | $14.87 | $14.61 | $13.95 | $13.55 | $13.68 | $13.44 | |||||
| AGP | 0.21 | 0.26 | 0.26 | ||||||||
| $14.62 | $14.67 | $14.67 | |||||||||
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.