Daily Commentary
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Tuesday July 6th
Corn: -40
The corn market spent very little time trading today, spending much of the session locked limit lower. Nearby contracts through the May ’22 contract all ended the day at the 40-cent limit. Mid-day values were trading another dime lower synthetically. Much of today’s pressure came from a cooler and wetter weather pattern expected over the next 5-10 days. Beneficial rains are expected across much of the Western corn belt with amounts still in question. Weekly corn inspections were within expectations at 48.7 million bushels. This was up from last week’s shipments and very near the level needed to meet the USDA’s goal.
Soybeans: -89 to -94
Soybeans were also under sharp pressure throughout the day with values falling into the close. August soybeans finished nearly 90 cents lower on the day with the November contract losing 94. Soybean products were also under heavy pressure with deferred soybean oil closing limit lower which will push all the soybean complex to expanded limits tomorrow. Soybean weekly shipments were reported at 7.6 million bushels, up solidly from last week. China was again absent from the shipment report with over 25 million bushels left unshipped at this point.
| 7/6/2021 | |||||||||||
| 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 | |||||||||
| EDDYVILLE | 6-5 | ||||||||||
| STARCH | 7-3 | ||||||||||
| PENFORD | WAXY | 730-11 | |||||||||
| FORT DODGE | 6-5 | ||||||||||
| JEWELL | 730-4 | 730-4 | |||||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-12 | |||||||||
| IOWA FALLS / FH | 7-5 | 7-5 | |||||||||
| SHELLROCK / FH | 7-5 | 7-5 | |||||||||
| LINCOLN WAY | 8-4 | 8-4 | |||||||||
| PINELAKE | |||||||||||
| IOWA FALLS/CARGIL | 6-5 | 6-5 | |||||||||
| CEDAR RAPIDS/CARGIL | 6-5 | 6-5 | |||||||||
| ADM DM | 6-6 | 6-6 | |||||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 6/28/2021 | 20.90% | ||||||
| JULY 21 | $6.56 | $13.64 | |||||||||
| AUG 21 | $13.44 | ||||||||||
| SEP 21 | $5.52 | ||||||||||
| DEC / NOV 21 | $5.40 | $13.05 | |||||||||
| JAN 22 | $13.09 | ||||||||||
| MAR 22 | $5.46 | $12.91 | |||||||||
| CORN | |||||||||||
| JULY | AUG | SEP | NC21 | DEC | JAN | MAR | |||||
| Bman/Crad/Gbrook | 0.75 | 0.20 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| GrnMt/Mill Junc | $6.27 | $5.72 | $5.10 | $5.10 | $5.15 | $5.11 | $5.11 | ||||
| Liscomb | 0.80 | 0.20 | -0.30 | -0.30 | -0.25 | -0.30 | -0.30 | ||||
| $6.32 | $5.72 | $5.10 | $5.10 | $5.15 | $5.16 | $5.16 | |||||
| Haverhill | 0.80 | 0.27 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.32 | $5.79 | $5.10 | $5.10 | $5.15 | $5.11 | $5.11 | |||||
| Midway | 0.75 | 0.25 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.27 | $5.77 | $5.10 | $5.10 | $5.15 | $5.11 | $5.11 | |||||
| Hudson/LaPorte | 0.75 | 0.22 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.27 | $5.74 | $5.10 | $5.10 | $5.15 | $5.11 | $5.11 | |||||
| Cedar Falls | 0.75 | 0.25 | -0.30 | -0.28 | -0.25 | -0.30 | -0.30 | ||||
| $6.27 | $5.77 | $5.10 | $5.12 | $5.15 | $5.16 | $5.16 | |||||
| Jesup | 0.80 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | ||||
| $6.32 | $5.84 | $5.10 | $5.15 | $5.15 | $5.21 | $5.21 | |||||
| EDDYVILLE | 0.85 | 0.90 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | ||||
| $6.37 | $6.42 | $5.52 | $5.25 | $5.35 | $5.32 | $5.36 | |||||
| CEDAR RAPIDS | 0.90 | 0.95 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | ||||
| $6.42 | $6.47 | $5.92 | $5.25 | $5.33 | $5.32 | $5.39 | |||||
| FORT DODGE | 0.85 | 1.05 | 0.75 | 0.00 | -0.05 | -0.07 | -0.05 | ||||
| $6.37 | $6.57 | $6.27 | $5.40 | $5.35 | $5.39 | $5.41 | |||||
| JEWELL | 1.00 | 1.05 | 0.90 | -0.24 | -0.20 | -0.24 | -0.24 | ||||
| $6.52 | $6.57 | $6.30 | $5.16 | $5.20 | $5.22 | $5.22 | |||||
| FAIRBANK | 1.00 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | ||||
| $6.52 | $6.22 | $6.22 | $5.15 | $5.20 | $5.21 | $5.21 | |||||
| SEABOARD | 0.75 | -0.20 | -0.10 | ||||||||
| $6.56 | $6.27 | $5.20 | $5.30 | ||||||||
| IOWA FALLS | 0.85 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | ||||
| $6.37 | $6.22 | $6.22 | $5.15 | $5.25 | $5.16 | $5.21 | |||||
| SHELLROCK | 0.85 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | ||||
| $6.37 | $6.22 | $6.22 | $5.15 | $5.20 | $5.21 | $5.21 | |||||
| LINCOLNWAY | 0.95 | 1.05 | 0.30 | -0.24 | -0.15 | -0.23 | -0.19 | ||||
| $6.47 | $6.57 | $5.70 | $5.16 | $5.25 | $5.23 | $5.27 | |||||
| SINCLAIR | 0.90 | 0.28 | -0.25 | ||||||||
| $6.42 | $5.68 | $5.21 | |||||||||
| PINELAKE | 0.90 | 0.94 | 0.97 | -0.20 | -0.15 | -0.18 | -0.14 | ||||
| $6.42 | $6.46 | $6.49 | $5.20 | $5.25 | $5.28 | $5.32 | |||||
| MASON CITY | 1.00 | 0.70 | -0.24 | ||||||||
| $6.52 | $6.22 | 5.16 | |||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.85 | 0.75 | 0.20 | -0.20 | -0.15 | -0.30 | -0.30 | ||||
| $6.37 | $6.27 | $5.72 | $5.20 | $5.25 | $5.16 | $5.16 | |||||
| HANLONTOWN | 1.00 | 1.05 | 1.05 | -0.28 | -0.24 | -0.32 | -0.30 | ||||
| $6.52 | $6.57 | $6.57 | $5.12 | $5.16 | $5.14 | $5.16 | |||||
| SOYBEANS | |||||||||||
| JULY | AUG | SEP | NC21 | DEC | JAN | MAR | |||||
| Bman/Crad/ | 0.00 | 0.00 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| Gbrook/GrnMt/Midway | $13.44 | $13.44 | $12.40 | $12.40 | $12.44 | $12.44 | $12.26 | ||||
| Lisc/Haverhill | 0.05 | 0.05 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| $13.49 | $13.49 | $12.40 | $12.40 | $12.44 | $12.44 | $12.26 | |||||
| CedarF/Jesup/Hud/LaPo | 0.00 | 0.00 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| $13.44 | $13.44 | $12.40 | $12.40 | $12.44 | $12.44 | $12.26 | |||||
| IOWA FALLS | 0.25 | 0.35 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $13.69 | $13.79 | $13.15 | $12.65 | $12.79 | $12.66 | $12.66 | |||||
| CEDAR RAPIDS | 0.30 | 0.35 | -0.40 | -0.30 | -0.25 | -0.25 | |||||
| $13.74 | $13.79 | $12.65 | $12.79 | $12.66 | $12.66 | ||||||
| DES MOINES | 0.40 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | |||||
| $13.84 | $13.64 | $13.05 | $12.65 | $12.79 | $12.61 | ||||||
| AGP | 0.26 | 0.26 | |||||||||
| $13.70 | $13.70 | ||||||||||
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.