Daily Commentary
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Monday June 28th
Corn: +28
The corn market firmed throughout the session after a quiet overnight trade. Both the September and December contracts gained 28 cents on the day while closing near their highs. Weekend rains were mostly as expected but some spots did miss out. This along with a warmer outlook in the 10-15 models saw some weather premium return to the market. Weekly corn shipments were disappointing with just under 40 million bushels loaded for export. This was below expectations and was below the needed pace for the first time in many weeks. The trade is highly anticipating Wednesday’s reports that will update the planted acreage and give us the June 1st stocks numbers.
Soybeans: +34 to +42 ¾
Soybeans extended overnight gains through the session to finish with sharp gains. Nearby soybeans gained 34 cents on the day but were unable to trade above Friday’s high. New crop values gained nearly 43 cents as soybean spreads turned weaker. Soybean products were also higher today with soybean oil gaining over 2 cents. Today’s strength was tied to talk of more Chinese new crop interest after last weeks strong reported sales. This morning’s weekly inspection report showed soybean loadings of just 3.8 million bushels. This was below expectations with the soy shipment pace indicating that the US may not quite reach is soybean export forecast.
| 6/28/2021 | |||||||||||
| 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 | 6-5 | ||||||||||
| STARCH | 7-3 | ||||||||||
| PENFORD | 730-10 | CLOSED | WAXY | 730-10 | |||||||
| FORT DODGE | 7-430 | ||||||||||
| JEWELL | 730-4 | 730-4 | 730-4 | 730-4 | |||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-4 | 8-4 | 6-4 | |||||||
| IOWA FALLS / FH | 7-5 | 7-5 | 7-5 | 7-12 | |||||||
| SHELLROCK / FH | 7-5 | 7-12 | 7-5 | CLOSED | |||||||
| LINCOLN WAY | 8-2 | 8-2 | 8-2 | 8-2 | |||||||
| PINELAKE | |||||||||||
| IOWA FALLS/CARGIL | APPT | APPT | APPT | APPT | |||||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | APPT | APPT | |||||||
| ADM DM | 6-6 | 6-6 | 6-6 | 6-6 | 7-3 | ||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 6/28/2021 | 20.90% | ||||||
| JULY 21 | $6.75 | $13.57 | |||||||||
| AUG 21 | $13.37 | ||||||||||
| SEP 21 | $5.58 | ||||||||||
| DEC / NOV 21 | $5.47 | $13.12 | |||||||||
| JAN 22 | $13.16 | ||||||||||
| MAR 22 | $5.55 | $13.01 | |||||||||
| CORN | |||||||||||
| JUNE | JULY | AUG | SEP | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/Gbrook | 0.85 | 0.85 | 0.20 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| GrnMt/Mill Junc | $6.43 | $6.43 | $5.78 | $5.17 | $5.17 | $5.22 | $5.20 | $5.20 | |||
| Liscomb | 0.85 | 0.85 | 0.20 | -0.30 | -0.30 | -0.25 | -0.30 | -0.30 | |||
| $6.43 | $6.43 | $5.78 | $5.17 | $5.17 | $5.22 | $5.25 | $5.25 | ||||
| Haverhill | 0.85 | 0.85 | 0.27 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| $6.43 | $6.43 | $5.85 | $5.17 | $5.17 | $5.22 | $5.20 | $5.20 | ||||
| Midway | 0.85 | 0.85 | 0.25 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| $6.43 | $6.43 | $5.83 | $5.17 | $5.17 | $5.22 | $5.20 | $5.20 | ||||
| Hudson/LaPorte | 0.85 | 0.85 | 0.22 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | |||
| $6.43 | $6.43 | $5.80 | $5.17 | $5.17 | $5.22 | $5.20 | $5.20 | ||||
| Cedar Falls | 0.85 | 0.85 | 0.25 | -0.30 | -0.28 | -0.25 | -0.30 | -0.30 | |||
| $6.43 | $6.43 | $5.83 | $5.17 | $5.19 | $5.22 | $5.25 | $5.25 | ||||
| Jesup | 0.85 | 0.85 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | |||
| $6.43 | $6.43 | $5.90 | $5.17 | $5.22 | $5.22 | $5.30 | $5.30 | ||||
| EDDYVILLE | 1.00 | 1.00 | 1.15 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | |||
| $6.58 | $6.58 | $6.73 | $5.58 | $5.32 | $5.42 | $5.41 | $5.45 | ||||
| CEDAR RAPIDS | 0.10 | 0.10 | 0.85 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | |||
| $6.85 | $6.85 | $6.43 | $5.98 | $5.32 | $5.40 | $5.41 | $5.48 | ||||
| FORT DODGE | 1.00 | 1.00 | 1.05 | 0.50 | 0.00 | -0.05 | -0.07 | -0.05 | |||
| $6.58 | $6.58 | $6.63 | $6.08 | $5.47 | $5.42 | $5.48 | $5.50 | ||||
| JEWELL | 1.00 | 1.05 | 1.05 | 0.90 | -0.24 | -0.2 | |||||
| $6.58 | $6.63 | $6.63 | $6.37 | $5.23 | $5.27 | $5.55 | |||||
| FAIRBANK | 1.00 | 1.00 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | |||
| $6.58 | $6.58 | $6.28 | $6.28 | $5.22 | $5.27 | $5.30 | $5.30 | ||||
| SEABOARD | 0.75 | -0.20 | -0.10 | ||||||||
| $6.75 | $6.75 | $6.33 | $5.27 | $5.37 | |||||||
| IOWA FALLS | 0.90 | 0.90 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | |||
| $6.48 | $6.48 | $6.28 | $6.28 | $5.22 | $5.32 | $5.25 | $5.30 | ||||
| SHELLROCK | 0.90 | 0.90 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | |||
| $6.48 | $6.48 | $6.28 | $6.28 | $5.22 | $5.27 | $5.30 | $5.30 | ||||
| LINCOLNWAY | 0.93 | 0.99 | 1.07 | 0.30 | -0.24 | -0.15 | -0.23 | -0.19 | |||
| $6.51 | $6.57 | $6.65 | $5.77 | $5.23 | $5.32 | $5.32 | $5.36 | ||||
| SINCLAIR | 0.90 | 0.90 | 0.28 | -0.25 | |||||||
| $6.48 | $6.48 | $5.75 | $5.30 | ||||||||
| PINELAKE | 0.95 | 0.95 | 0.98 | 1.00 | -0.20 | -0.15 | -0.18 | -0.14 | |||
| $6.53 | $6.53 | $6.56 | $6.58 | $5.27 | $5.32 | $5.37 | $5.41 | ||||
| MASON CITY | 1.00 | 1.00 | 0.70 | -0.24 | |||||||
| $6.58 | $6.58 | $6.28 | 5.23 | ||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.85 | 0.85 | 0.75 | 0.20 | -0.20 | -0.15 | -0.30 | -0.30 | |||
| $6.43 | $6.43 | $6.33 | $5.78 | $5.27 | $5.32 | $5.25 | $5.25 | ||||
| HANLONTOWN | 1.00 | 1.00 | 1.05 | 1.05 | -0.28 | -0.24 | -0.32 | -0.30 | |||
| $6.58 | $6.58 | $6.63 | $6.63 | $5.19 | $5.23 | $5.23 | $5.25 | ||||
| SOYBEANS | |||||||||||
| JUNE | JULY | AUG | SEP | NC21 | DEC | JAN | MAR | ||||
| Bman/Crad/ | 0.00 | 0.00 | 0.00 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| Gbrook/GrnMt/Midway | $13.37 | $13.37 | $13.37 | $12.47 | $12.47 | $12.51 | $12.51 | $12.36 | |||
| Lisc/Haverhill | 0.05 | 0.05 | 0.05 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $13.42 | $13.42 | $13.42 | $12.47 | $12.47 | $12.51 | $12.51 | $12.36 | ||||
| CedarF/Jesup/Hud/LaPo | 0.00 | 0.00 | 0.00 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | |||
| $13.37 | $13.37 | $13.37 | $12.47 | $12.47 | $12.51 | $12.51 | $12.36 | ||||
| IOWA FALLS | 0.30 | 0.30 | 0.35 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | |||
| $13.67 | $13.67 | $13.72 | $13.22 | $12.72 | $12.86 | $12.76 | $12.76 | ||||
| CEDAR RAPIDS | 0.20 | 0.20 | 0.30 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $13.57 | $13.57 | $13.67 | $12.72 | $12.86 | $12.76 | $12.76 | |||||
| DES MOINES | 0.40 | 0.40 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | ||||
| $13.77 | $13.77 | $13.57 | $13.12 | $12.72 | $12.86 | $12.71 | |||||
| AGP | 0.21 | 0.26 | 0.26 | ||||||||
| $13.58 | $13.63 | $13.63 | |||||||||
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.