Daily Commentary
Friday June 18th
Corn: +22 ¼ to +33 ¾
The corn market rallied back nicely today with values firming through the session after a slightly weaker open last night. July futures gained 22 cents on the day but still ended the week with a 29 cents loss. The December contract added over 33 cents today after trading over 40 cents higher mid-day. Even with today’s recovery, December futures were off over 43 cents on the week. The concern over biofuel mandates seemed to wane today with RIN values stabilizing. Weather remains a concern with some relief expected in the Northern belt, but models do disagree on the rain amounts. Traders do expect to see crop ratings fall again in Monday’s update.
Soybeans: +60 to +60 ¼
Soybeans were also sharpy higher today, recovering from yesterday’s heavy selling. Both the old and new crop values gained near 60 cents on the day after trading steady/higher the entire session. Weekly losses were still steep with both nearby and new crop contracts losing over $1.25. Soy products were also higher today with soybean meal posting double digit gains. Rumors of China booking new crop soybeans off the PNW on yesterday’s break were supportive along with the continued dry conditions. The current drought monitor shows over 1/3 of the soybean crop effected by some level of drought.
| 6/18/2021 | |||||||||||
| 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 | 7-12 | 7-12 | |||||||
| EDDYVILLE | 6-5 | 6-2 | |||||||||
| STARCH | 7-3 | 7-3 | |||||||||
| PENFORD | 730-11 | 730-11 | WAXY | ||||||||
| FORT DODGE | 630-430 | CLOSED | CLOSED | ||||||||
| JEWELL | 730-4 | 730-4 | |||||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-4 | |||||||||
| IOWA FALLS / FH | 7-5 | CLOSED | |||||||||
| SHELLROCK / FH | CLOSED | CLOSED | |||||||||
| LINCOLN WAY | 8-4 | 8-4 | |||||||||
| PINELAKE | |||||||||||
| IOWA FALLS/CARGIL | APPT | APPT | |||||||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | 7-1 | ||||||||
| ADM DM | 6-6 | 6-6 | 7-3 | ||||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 6/14/2021 | 20.90% | ||||||
| JULY 21 | $6.55 | $13.96 | |||||||||
| AUG 21 | $13.55 | ||||||||||
| SEP 21 | $5.77 | ||||||||||
| DEC / NOV 21 | $5.66 | $13.13 | |||||||||
| JAN 22 | $13.17 | ||||||||||
| MAR 22 | $5.73 | $13.02 | |||||||||
| CORN | |||||||||||
| JUNE | JULY | AUG | SEP | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/Gbrook | 0.05 | 0.05 | 0.20 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| GrnMt/Mill Junc | $6.60 | $6.60 | $5.97 | $5.36 | $5.36 | $5.41 | $5.38 | $5.38 | |||
| Liscomb | 0.07 | 0.07 | 0.20 | -0.30 | -0.30 | -0.25 | -0.30 | -0.30 | |||
| $6.62 | $6.62 | $5.97 | $5.36 | $5.36 | $5.41 | $5.43 | $5.43 | ||||
| Haverhill | 0.10 | 0.10 | 0.27 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| $6.65 | $6.65 | $6.04 | $5.36 | $5.36 | $5.41 | $5.38 | $5.38 | ||||
| Midway | 0.08 | 0.08 | 0.25 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| $6.63 | $6.63 | $6.02 | $5.36 | $5.36 | $5.41 | $5.38 | $5.38 | ||||
| Hudson/LaPorte | 0.07 | 0.07 | 0.22 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| $6.60 | $6.62 | $5.99 | $5.36 | $5.36 | $5.41 | $5.38 | $5.38 | ||||
| Cedar Falls | 0.08 | 0.08 | 0.25 | -0.30 | -0.28 | -0.25 | -0.30 | -0.30 | |||
| $6.63 | $6.63 | $6.02 | $5.36 | $5.38 | $5.41 | $5.43 | $5.43 | ||||
| Jesup | 0.10 | 0.10 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $6.65 | $6.65 | $6.09 | $5.36 | $5.41 | $5.41 | $5.48 | $5.48 | ||||
| EDDYVILLE | 0.15 | 0.20 | 0.85 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | |||
| $6.70 | $6.75 | $6.62 | $5.77 | $5.51 | $5.61 | $5.59 | $5.63 | ||||
| CEDAR RAPIDS | 0.15 | 0.20 | 0.85 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $6.70 | $6.75 | $6.62 | $6.17 | $5.51 | $5.59 | $5.59 | $5.66 | ||||
| FORT DODGE | 0.20 | 0.25 | 0.80 | 0.50 | 0.00 | -0.05 | -0.07 | -0.05 | |||
| $6.75 | $6.80 | $6.57 | $6.27 | $5.66 | $5.61 | $5.66 | $5.68 | ||||
| JEWELL | 0.18 | 1.05 | 1.05 | 0.95 | -0.24 | -0.2 | |||||
| $6.73 | $6.82 | $6.82 | $6.61 | $5.42 | $5.46 | $5.73 | |||||
| FAIRBANK | 0.18 | 0.18 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $5.95 | $5.95 | $6.47 | $6.47 | $5.41 | $5.46 | $5.48 | $5.48 | ||||
| SEABOARD | 0.22 | 0.70 | -0.20 | -0.10 | |||||||
| $6.55 | $6.77 | $6.47 | $5.46 | $5.56 | |||||||
| IOWA FALLS | 0.17 | 0.22 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $6.72 | $6.77 | $6.47 | $6.47 | $5.41 | $5.51 | $5.43 | $5.48 | ||||
| SHELLROCK | 0.10 | 0.12 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | |||
| $6.65 | $6.67 | $6.47 | $6.47 | $5.41 | $5.46 | $5.48 | $5.48 | ||||
| LINCOLNWAY | 0.13 | 0.16 | 1.05 | 0.20 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $6.68 | $6.71 | $6.82 | $5.86 | $5.42 | $5.51 | $5.50 | $5.54 | ||||
| SINCLAIR | 0.18 | 0.18 | 0.28 | -0.25 | |||||||
| $6.73 | $6.73 | $5.94 | $5.48 | ||||||||
| PINELAKE | 0.17 | 0.17 | 0.20 | 0.23 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $6.72 | $6.72 | $6.75 | $6.78 | $5.46 | $5.51 | $5.55 | $5.59 | ||||
| MASON CITY | 0.16 | 0.16 | 0.70 | -0.24 | |||||||
| $6.71 | $6.71 | $6.47 | 5.42 | ||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.13 | 0.13 | 0.75 | 0.12 | -0.20 | -0.15 | -0.30 | -0.30 | |||
| $6.68 | $6.68 | $6.52 | $5.89 | $5.46 | $5.51 | $5.43 | $5.43 | ||||
| HANLONTOWN | 0.12 | 0.15 | 0.95 | 0.95 | -0.28 | -0.24 | -0.32 | -0.30 | |||
| $6.67 | $6.70 | $6.72 | $6.72 | $5.38 | $5.42 | $5.41 | $5.43 | ||||
| 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 | $13.65 | $13.65 | $13.65 | $12.48 | $12.48 | $12.52 | $12.52 | $12.37 | |||
| Lisc/Haverhill | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $13.65 | $13.65 | $13.65 | $12.48 | $12.48 | $12.52 | $12.52 | $12.37 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $13.65 | $13.65 | $13.65 | $12.48 | $12.48 | $12.52 | $12.52 | $12.37 | ||||
| IOWA FALLS | 0.20 | 0.30 | 0.30 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $13.75 | $13.85 | $13.85 | $13.23 | $12.73 | $12.87 | $12.77 | $12.77 | ||||
| CEDAR RAPIDS | 0.10 | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $13.65 | $13.75 | $13.85 | $12.73 | $12.87 | $12.77 | $12.77 | |||||
| DES MOINES | 0.15 | 0.15 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | ||||
| $14.11 | $14.11 | $13.75 | $13.13 | $12.73 | $12.87 | $12.72 | |||||
| AGP | 0.21 | 0.26 | 0.26 | ||||||||
| $13.76 | $13.81 | $13.81 | |||||||||
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.