Daily Commentary
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Wednesday July 7th
Corn: -9 ¼ to -8 ¾
After trading slightly higher during the overnight hours, the corn market turned lower early in the morning before finishing with moderate losses. The September contract finished just over 9 cents lower while finishing nearly 17 cents off the session’s high. December futures were nearly 9 cents lower on the close but did trade over 20 cents lower at one point. Weather remains favorable over much of the corn-belt in the coming days, helping to pressure the corn market. There was also concern today over new crop corn exports with many differing opinions on how much corn China will buy from the US. Yesterday afternoon’s conditions update showed the corn ratings steady at 64% good/excellent.
Soybeans: +22 ½ to +22 ¼
Soybeans traded higher throughout the session and ended with solid gains. Both the old and new crop values gained over 22 cents on the day after trading near 40 cents higher at one point. Soybean products were also higher today with both meal and oil ending with modest gains. Soybeans recovered somewhat after yesterday’s sell-off felt overdone. Rumors that China was booking new crop soybeans on yesterday’s break did also add support. Yesterday’s report saw soybean ratings drop 1 point to 59% g/e. This is the 5th lowest rating in the last 25 years.
| 7/7/2021 | |||||||||||
| 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 | 6-5 | |||||||||
| STARCH | 7-10 | TBA | |||||||||
| PENFORD | 730-11 | 730-11 | |||||||||
| FORT DODGE | 7-4 | 7-4 | |||||||||
| JEWELL | 730-4 | 730-4 | |||||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-12 | 6-12 | |||||||||
| IOWA FALLS / FH | 7-5 | 7-5 | |||||||||
| SHELLROCK / FH | 7-5 | CLO | |||||||||
| 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: | 7/6/2021 | 21.80% | ||||||
| JULY 21 | $6.52 | $13.86 | |||||||||
| AUG 21 | $13.67 | ||||||||||
| SEP 21 | $5.43 | ||||||||||
| DEC / NOV 21 | $5.31 | $13.27 | |||||||||
| JAN 22 | $13.32 | ||||||||||
| MAR 22 | $5.39 | $13.13 | |||||||||
| 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 | $6.18 | $5.63 | $5.01 | $5.01 | $5.06 | $5.04 | $5.04 | ||||
| Liscomb | 0.80 | 0.20 | -0.30 | -0.30 | -0.25 | -0.30 | -0.30 | ||||
| $6.23 | $5.63 | $5.01 | $5.01 | $5.06 | $5.09 | $5.09 | |||||
| Haverhill | 0.80 | 0.27 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.23 | $5.70 | $5.01 | $5.01 | $5.06 | $5.04 | $5.04 | |||||
| Midway | 0.75 | 0.25 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.18 | $5.68 | $5.01 | $5.01 | $5.06 | $5.04 | $5.04 | |||||
| Hudson/LaPorte | 0.75 | 0.22 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.18 | $5.65 | $5.01 | $5.01 | $5.06 | $5.04 | $5.04 | |||||
| Cedar Falls | 0.75 | 0.25 | -0.30 | -0.28 | -0.25 | -0.30 | -0.30 | ||||
| $6.18 | $5.68 | $5.01 | $5.03 | $5.06 | $5.09 | $5.09 | |||||
| Jesup | 0.80 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | ||||
| $6.23 | $5.75 | $5.01 | $5.06 | $5.06 | $5.14 | $5.14 | |||||
| EDDYVILLE | 0.85 | 0.90 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | ||||
| $6.28 | $6.33 | $5.43 | $5.16 | $5.26 | $5.25 | $5.29 | |||||
| CEDAR RAPIDS | 0.90 | 0.95 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | ||||
| $6.33 | $6.38 | $5.83 | $5.16 | $5.24 | $5.25 | $5.32 | |||||
| FORT DODGE | 0.85 | 1.05 | 0.75 | 0.00 | -0.05 | -0.07 | -0.05 | ||||
| $6.28 | $6.48 | $6.18 | $5.31 | $5.26 | $5.32 | $5.34 | |||||
| JEWELL | 1.00 | 1.05 | 0.90 | -0.24 | -0.20 | -0.24 | -0.24 | ||||
| $6.43 | $6.48 | $6.21 | $5.07 | $5.11 | $5.15 | $5.15 | |||||
| FAIRBANK | 1.00 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | ||||
| $6.43 | $6.13 | $6.13 | $5.06 | $5.11 | $5.14 | $5.14 | |||||
| SEABOARD | 0.75 | -0.20 | -0.10 | ||||||||
| $6.52 | $6.18 | $5.11 | $5.21 | ||||||||
| IOWA FALLS | 0.85 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | ||||
| $6.28 | $6.13 | $6.13 | $5.06 | $5.16 | $5.09 | $5.14 | |||||
| SHELLROCK | 0.85 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | ||||
| $6.28 | $6.13 | $6.13 | $5.06 | $5.11 | $5.14 | $5.14 | |||||
| LINCOLNWAY | 0.90 | 1.00 | 0.30 | -0.24 | -0.15 | -0.23 | -0.19 | ||||
| $6.33 | $6.43 | $5.61 | $5.07 | $5.16 | $5.16 | $5.20 | |||||
| SINCLAIR | 0.90 | 0.28 | -0.25 | ||||||||
| $6.33 | $5.59 | $5.14 | |||||||||
| PINELAKE | 0.90 | 0.94 | 0.97 | -0.20 | -0.15 | -0.18 | -0.14 | ||||
| $6.33 | $6.37 | $6.40 | $5.11 | $5.16 | $5.21 | $5.25 | |||||
| MASON CITY | 0.88 | 0.83 | -0.24 | ||||||||
| $6.31 | $6.26 | 5.07 | |||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.85 | 0.90 | 0.60 | -0.20 | -0.15 | -0.30 | -0.30 | ||||
| $6.28 | $6.33 | $6.03 | $5.11 | $5.16 | $5.09 | $5.09 | |||||
| 0.92 | |||||||||||
| HANLONTOWN | 0.87 | 0.92 | 0.92 | -0.28 | -0.24 | -0.32 | -0.30 | ||||
| $6.30 | $6.35 | $6.35 | $5.03 | $5.07 | $5.07 | $5.09 | |||||
| SOYBEANS | |||||||||||
| JULY | AUG | SEP | NC21 | DEC | JAN | MAR | |||||
| Bman/Crad/ | 0.05 | 0.00 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| Gbrook/GrnMt/Midway | $13.72 | $13.67 | $12.62 | $12.62 | $12.67 | $12.67 | $12.48 | ||||
| Lisc/Haverhill | 0.05 | 0.05 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| $13.72 | $13.72 | $12.62 | $12.62 | $12.67 | $12.67 | $12.48 | |||||
| CedarF/Jesup/Hud/LaPo | 0.05 | 0.00 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| $13.72 | $13.67 | $12.62 | $12.62 | $12.67 | $12.67 | $12.48 | |||||
| IOWA FALLS | 0.25 | 0.35 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $13.92 | $14.02 | $13.37 | $12.87 | $13.02 | $12.88 | $12.88 | |||||
| CEDAR RAPIDS | 0.30 | 0.35 | -0.40 | -0.30 | -0.25 | -0.25 | |||||
| $13.97 | $14.02 | $12.87 | $13.02 | $12.88 | $12.88 | ||||||
| DES MOINES | 0.40 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | |||||
| $14.07 | $13.87 | $13.27 | $12.87 | $13.02 | $12.83 | ||||||
| AGP | 0.21 | 0.26 | |||||||||
| $13.88 | $13.93 | ||||||||||
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.