Daily Commentary
Monday June 21st
Corn: +4 to -9 ¼
The corn market finished the day mixed after trading both sides of unchanged through the session. July futures finished 4 cents higher after trading nearly 20 cents lower overnight. The December contract lost just over 9 cents in a nearly 25 cent trading range. Weekend showers provided some relief to the Northern corn-belt, but coverage was highly variable. Weekly export inspections were reported at a solid 58 million bushels. This was down slightly from last week but above the level needed to meet the USDA’s goal. The report did show China taking over 30 million bushels last week. Basis levels were mixed on the day with gulf values steady while some processors rolled the September contract and lost some basis in the transition. Weekly crop ratings did fall 3 points in the afternoon update.
Soybeans: +15 ¼ to +6 ¼
After trading lower in the overnight hours, soybeans rallied through the day to finish moderately higher. Nearby values gained over 15 cents on the day to finish nearly 45 cents above the overnight low. New crop values gained just 6 cents as spreads were firmer on the day. Soy products were mixed today with soybean oil posting sharp gains. The USDA did announce sizable new crop sales to China and unknown in the morning release after these sales were rumored on Friday. Soybean weekly shipments were near estimates at 6.4 million bushels. This is just shy of the level needed to meet the demand estimate. Soybean ratings were off 2 points from the prior week, which was mostly as expected by the trade.
| 6/21/2021 | |||||||||||
| 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 | 7-12 | 7-12 | |||||
| EDDYVILLE | CLOSED | 6-5 | 6-2 | ||||||||
| STARCH | 7-3 | 7-9 | TBD | ||||||||
| PENFORD | 730-11 | WAXY | 7:30-11 | 7:30-11 | |||||||
| FORT DODGE | CLOSED | CLOSED | TBD | ||||||||
| JEWELL | 730-4 | 730-4 | 730-4 | ||||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-4 | |||||||||
| IOWA FALLS / FH | CLOSED | 7-5 | |||||||||
| SHELLROCK / FH | CLOSED | CLOSED | |||||||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | 8-4 | 8-4 | ||||||
| PINELAKE | |||||||||||
| IOWA FALLS/CARGIL | APPT | APPT | APPT | ||||||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | APPT | 7-1 | |||||||
| ADM DM | 6-6 | 6-6 | 6-6 | 6-6 | 7-3 | ||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 6/21/2021 | 20.50% | ||||||
| JULY 21 | $6.59 | $14.15 | |||||||||
| AUG 21 | $13.70 | ||||||||||
| SEP 21 | $5.71 | ||||||||||
| DEC / NOV 21 | $5.57 | $13.19 | |||||||||
| JAN 22 | $13.23 | ||||||||||
| MAR 22 | $5.64 | $13.09 | |||||||||
| 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 | $6.64 | $6.64 | $5.91 | $5.27 | $5.27 | $5.32 | $5.29 | $5.29 | |||
| Liscomb | 0.07 | 0.07 | 0.20 | -0.30 | -0.30 | -0.25 | -0.30 | -0.30 | |||
| $6.66 | $6.66 | $5.91 | $5.27 | $5.27 | $5.32 | $5.34 | $5.34 | ||||
| Haverhill | 0.08 | 0.08 | 0.27 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| $6.67 | $6.67 | $5.98 | $5.27 | $5.27 | $5.32 | $5.29 | $5.29 | ||||
| Midway | 0.08 | 0.08 | 0.25 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| $6.67 | $6.67 | $5.96 | $5.27 | $5.27 | $5.32 | $5.29 | $5.29 | ||||
| Hudson/LaPorte | 0.05 | 0.05 | 0.22 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| $6.64 | $6.64 | $5.93 | $5.27 | $5.27 | $5.32 | $5.29 | $5.29 | ||||
| Cedar Falls | 0.05 | 0.05 | 0.25 | -0.30 | -0.28 | -0.25 | -0.30 | -0.30 | |||
| $6.64 | $6.64 | $5.96 | $5.27 | $5.29 | $5.32 | $5.34 | $5.34 | ||||
| Jesup | 0.08 | 0.08 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $6.67 | $6.67 | $6.03 | $5.27 | $5.32 | $5.32 | $5.39 | $5.39 | ||||
| EDDYVILLE | 0.15 | 0.20 | 0.85 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | |||
| $6.74 | $6.79 | $6.56 | $5.71 | $5.42 | $5.52 | $5.50 | $5.54 | ||||
| CEDAR RAPIDS | 0.15 | 0.20 | 0.85 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $6.74 | $6.79 | $6.56 | $6.11 | $5.42 | $5.50 | $5.50 | $5.57 | ||||
| FORT DODGE | 0.20 | 0.25 | 0.80 | 0.50 | 0.00 | -0.05 | -0.07 | -0.05 | |||
| $6.79 | $6.84 | $6.51 | $6.21 | $5.57 | $5.52 | $5.57 | $5.59 | ||||
| JEWELL | 1.05 | 1.10 | 1.10 | 0.95 | -0.24 | -0.2 | |||||
| $6.76 | $6.81 | $6.81 | $6.52 | $5.33 | $5.37 | $5.64 | |||||
| FAIRBANK | 1.00 | 1.00 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $6.71 | $6.71 | $6.41 | $6.41 | $5.32 | $5.37 | $5.39 | $5.39 | ||||
| SEABOARD | 0.22 | 0.70 | -0.20 | -0.10 | |||||||
| $6.59 | $6.81 | $6.41 | $5.37 | $5.47 | |||||||
| IOWA FALLS | 0.17 | 0.22 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $6.76 | $6.81 | $6.41 | $6.41 | $5.32 | $5.42 | $5.34 | $5.39 | ||||
| SHELLROCK | 0.90 | 0.90 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | |||
| $6.61 | $6.61 | $6.41 | $6.41 | $5.32 | $5.37 | $5.39 | $5.39 | ||||
| LINCOLNWAY | 0.98 | 1.03 | 1.10 | 0.20 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $6.69 | $6.74 | $6.81 | $5.77 | $5.33 | $5.42 | $5.41 | $5.45 | ||||
| SINCLAIR | 0.18 | 0.18 | 0.28 | -0.25 | |||||||
| $6.77 | $6.77 | $5.85 | $5.39 | ||||||||
| PINELAKE | 0.17 | 0.17 | 0.20 | 0.23 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $6.76 | $6.76 | $6.79 | $6.82 | $5.37 | $5.42 | $5.46 | $5.50 | ||||
| MASON CITY | 0.16 | 0.16 | 0.70 | -0.24 | |||||||
| $6.75 | $6.75 | $6.41 | 5.33 | ||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.13 | 0.13 | 0.75 | 0.12 | -0.20 | -0.15 | -0.30 | -0.30 | |||
| $6.72 | $6.72 | $6.46 | $5.83 | $5.37 | $5.42 | $5.34 | $5.34 | ||||
| HANLONTOWN | 0.12 | 0.15 | 0.95 | 0.95 | -0.28 | -0.24 | -0.32 | -0.30 | |||
| $6.71 | $6.74 | $6.66 | $6.66 | $5.29 | $5.33 | $5.32 | $5.34 | ||||
| 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 | $13.80 | $13.80 | $13.80 | $12.54 | $12.54 | $12.58 | $12.58 | $12.44 | |||
| Lisc/Haverhill | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $13.80 | $13.80 | $13.80 | $12.54 | $12.54 | $12.58 | $12.58 | $12.44 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | 0.10 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $13.80 | $13.80 | $13.80 | $12.54 | $12.54 | $12.58 | $12.58 | $12.44 | ||||
| IOWA FALLS | 0.30 | 0.30 | 0.35 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $14.00 | $14.00 | $14.05 | $13.29 | $12.79 | $12.93 | $12.84 | $12.84 | ||||
| CEDAR RAPIDS | 0.20 | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $13.90 | $13.90 | $14.00 | $12.79 | $12.93 | $12.84 | $12.84 | |||||
| DES MOINES | 0.40 | 0.40 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | ||||
| $14.10 | $14.10 | $13.90 | $13.19 | $12.79 | $12.93 | $12.79 | |||||
| AGP | 0.21 | 0.26 | 0.26 | ||||||||
| $13.91 | $13.96 | $13.96 | |||||||||
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.