Daily Commentary
Monday May 3rd
Corn: Mixed
The corn market traded mixed throughout the day after a much stronger overnight session. The July contract gained just over 6 cents on the day after trading nearly 25 cents higher overnight. July futures were the only contract through the December ’22 contract that finished higher today with new crop values down just slightly. Concerns over the Brazilian safrinha crop remain with nearly half the crop hampered by dryness. This morning’s weekly inspection report showed very strong loadings of over 84 million bushels. This was on the upper end of estimates and well above the level needed to meet the sales goal. Exports to China were strong at over 30 million bushels for the week.
Soybeans: Mixed
Soybeans also finished the day mixed and well below the overnight highs. Nearby soybeans lost just over a dime today while finishing nearly 40 cents below the session’s high. Old/new soybean were weaker today with new crop soybeans ending over a nickel higher. Soybean products were mixed on the day with July meal losing over $10. Soybean export inspections set a marketing year low today at just over 5 million bushels and fell below the level needed to meet the USDA’s goal. Accounting for the unknown bookings to be China, there is still nearly 40 million bushels of unshipped Chinese purchases on the books.
| 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 | |||
| EDDYVILLE | 6-430 | ||||||
| STARCH | 7-3 | ||||||
| PENFORD | 730-2 | ||||||
| FORT DODGE | TBD | ||||||
| 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 | 7-5 | 7-12 | 7-5 | 7-5 | |||
| LINCOLN WAY | 7-4 | 7-4 | 7-4 | 7-4 | |||
| PINELAKE | 730-4 | 730-4 | 730-4 | 730-4 | |||
| 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 | 7-5 | 7-5 | 7-5 | 7-5 | |||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/3/2021 | 20.90% | ||
| AUG 20 | – | – | |||||
| SEP 20 | – | – | |||||
| DEC / NOV 20 | – | – | |||||
| JAN 21 | – | #REF! | |||||
| MAR 21 | #REF! | #REF! | |||||
| MAY21 | $7.32 | $15.60 | |||||
| JULY 21 | $6.79 | $15.24 | |||||
| DEC / NOV 21 | $5.63 | $13.45 | |||||
| CORN | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/Gbrook | 0.00 | 0.00 | 0.00 | -0.35 | |||
| GrnMt/Mill Junc | $6.79 | $6.79 | $6.79 | $5.28 | |||
| Liscomb | 0.05 | 0.05 | 0.05 | -0.30 | |||
| $6.84 | $6.84 | $6.84 | $5.33 | ||||
| Haverhill | 0.04 | 0.04 | 0.04 | -0.35 | |||
| $6.83 | $6.83 | $6.83 | $5.28 | ||||
| Midway | 0.05 | 0.05 | 0.05 | -0.35 | |||
| $6.84 | $6.84 | $6.84 | $5.28 | ||||
| Hudson/LaPorte | 0.00 | 0.03 | 0.00 | -0.35 | |||
| $6.79 | $6.82 | $6.79 | $5.28 | ||||
| Cedar Falls | 0.03 | 0.03 | 0.03 | -0.30 | |||
| $6.82 | $6.82 | $6.82 | $5.33 | ||||
| Jesup | 0.10 | 0.10 | 0.10 | -0.25 | |||
| $6.89 | $6.89 | $6.89 | $5.38 | ||||
| EDDYVILLE | 0.32 | 0.29 | 0.29 | -0.30 | |||
| $7.11 | $7.08 | $7.08 | $5.33 | ||||
| CEDAR RAPIDS | 0.38 | 0.29 | 0.29 | -0.20 | |||
| $7.17 | $7.08 | $7.08 | $5.43 | ||||
| FORT DODGE | 0.28 | 0.28 | 0.33 | -0.13 | |||
| $7.07 | $7.07 | $7.12 | $5.50 | ||||
| JEWELL | 0.12 | 0.20 | 0.20 | -0.3 | |||
| $6.91 | $6.99 | $6.99 | $5.33 | ||||
| FAIRBANK | 0.23 | 0.23 | 0.23 | -0.25 | |||
| $7.02 | $7.02 | $7.02 | $5.38 | ||||
| SEABOARD | 0.23 | 0.28 | -0.20 | ||||
| $7.02 | $7.07 | $5.43 | |||||
| IOWA FALLS | 0.23 | 0.23 | 0.20 | -0.25 | |||
| $7.02 | $7.02 | $6.99 | $5.38 | ||||
| SHELLROCK | 0.23 | 0.23 | 0.15 | -0.25 | |||
| $7.02 | $7.02 | $6.94 | $5.38 | ||||
| LINCOLNWAY | 0.25 | 0.25 | 0.25 | -0.30 | |||
| $7.04 | $7.04 | $7.04 | $5.33 | ||||
| SINCLAIR | 0.18 | 0.21 | 0.21 | ||||
| $6.97 | $7.00 | $7.00 | |||||
| PINELAKE | 0.20 | 0.23 | 0.25 | -0.20 | |||
| $6.99 | $7.02 | $7.04 | $5.43 | ||||
| MASON CITY | 0.20 | 0.20 | 0.20 | -0.28 | |||
| $6.99 | $6.99 | $6.99 | $5.35 | ||||
| . | . | . | . | . | |||
| CHARLES CITY | 0.2 | 0.20 | 0.20 | -0.25 | |||
| $6.99 | $6.99 | $6.99 | $5.38 | ||||
| HANLONTOWN | 0.13 | 0.16 | 0.18 | -0.30 | |||
| $6.92 | 6.95 | $6.97 | $5.33 | ||||
| SOYBEANS | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/ | 0.10 | 0.10 | 0.10 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.34 | $15.34 | $15.34 | $12.80 | |||
| Lisc/Haverhill | 0.15 | 0.15 | 0.10 | -0.65 | |||
| $15.39 | $15.39 | $15.34 | $12.80 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | 0.10 | -0.65 | |||
| $15.34 | $15.34 | $15.34 | $12.80 | ||||
| IOWA FALLS | 0.35 | 0.35 | 0.35 | -0.40 | |||
| $15.59 | $15.59 | $15.59 | $13.05 | ||||
| CEDAR RAPIDS | 0.35 | 0.35 | 0.35 | -0.40 | |||
| $15.59 | $15.59 | $15.59 | $13.05 | ||||
| DES MOINES | 0.55 | 0.55 | 0.40 | -0.40 | |||
| $15.79 | $15.79 | $15.64 | $13.05 | ||||
| AGP | 0.25 | ||||||
| $15.49 | $15.24 | ||||||
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.