Daily Commentary
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Friday July 9th
Corn: -7 ¼ to -6 ¾
The corn market spent much of the session trading lower before ending with a modest loss. Both the old and new crop values lost near 7 cents on the day but did finish well above the mid-day low. For the week, corn was off over 60 cents and gave back all last week’s gains. Better weather was the headliner much of the week as we opened the week limit lower on Tuesday. Monday will bring the updated WASDE with traders expecting a small tightening of the old crop balance sheet. Ethanol demand has remained strong with the uptick in travel, and it is likely that we could get a small increase there. The new crop balance sheet will show the increased acres and likely more demand too, leaving carryout near 1.5 billion.
Soybeans: +14 to + 9 ¾
Soybeans end the day with moderate gains after trading both sides during the session. Nearby values gained 14 cents on the day and finished near the high of the day. New crop values were up nearly a dime on the day. Soy products were mixed on the day with soybean oil posting a sharp gain. Much of todays strength was tied to a strong veg oil market. The USDA did announce a new crop soybean sale to Mexico in the morning update, but that was mostly routine business. Soybean losses were also harsh this week with new crop values down nearly 70 cents. Traders are expecting little to no changes to the balance sheets in Monday’s updates.
| 7/9/2021 | |||||||||||
| 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 | 7-2 | 7-2 | |||||||
| EDDYVILLE | 6-5 | 6-5 | |||||||||
| STARCH | 7-3 | 7-3 | |||||||||
| PENFORD | 730-11 | 730-11 | |||||||||
| FORT DODGE | 7-12 | 630-5 | |||||||||
| JEWELL | 730-4 | CLOSED | |||||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-4 | |||||||||
| IOWA FALLS / FH | 7-5 | CLOSED | |||||||||
| 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 | 7-3 | ||||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 7/6/2021 | 21.80% | ||||||
| JULY 21 | $6.30 | $14.04 | |||||||||
| AUG 21 | $13.79 | ||||||||||
| SEP 21 | $5.29 | ||||||||||
| DEC / NOV 21 | $5.17 | $13.29 | |||||||||
| JAN 22 | $13.34 | ||||||||||
| MAR 22 | $5.25 | $13.19 | |||||||||
| CORN | |||||||||||
| JULY | AUG | SEP | NC21 | DEC | JAN | MAR | |||||
| Bman/Crad/Gbrook | 0.70 | 0.20 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| GrnMt/Mill Junc | $5.99 | $5.49 | $4.87 | $4.87 | $4.92 | $4.90 | $4.90 | ||||
| Liscomb | 0.75 | 0.20 | -0.30 | -0.30 | -0.25 | -0.30 | -0.30 | ||||
| $6.04 | $5.49 | $4.87 | $4.87 | $4.92 | $4.95 | $4.95 | |||||
| Haverhill | 0.75 | 0.27 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.04 | $5.56 | $4.87 | $4.87 | $4.92 | $4.90 | $4.90 | |||||
| Midway | 0.70 | 0.25 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $5.99 | $5.54 | $4.87 | $4.87 | $4.92 | $4.90 | $4.90 | |||||
| Hudson/LaPorte | 0.70 | 0.22 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $5.99 | $5.51 | $4.87 | $4.87 | $4.92 | $4.90 | $4.90 | |||||
| Cedar Falls | 0.70 | 0.25 | -0.30 | -0.28 | -0.25 | -0.30 | -0.30 | ||||
| $5.99 | $5.54 | $4.87 | $4.89 | $4.92 | $4.95 | $4.95 | |||||
| Jesup | 0.75 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | ||||
| $6.04 | $5.61 | $4.87 | $4.92 | $4.92 | $5.00 | $5.00 | |||||
| EDDYVILLE | 0.85 | 0.90 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | ||||
| $6.14 | $6.19 | $5.29 | $5.02 | $5.12 | $5.11 | $5.15 | |||||
| CEDAR RAPIDS | 0.85 | 0.90 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | ||||
| $6.14 | $6.19 | $5.69 | $5.02 | $5.10 | $5.11 | $5.18 | |||||
| FORT DODGE | 0.75 | 0.95 | 0.25 | -0.05 | -0.10 | -0.14 | -0.10 | ||||
| $6.04 | $6.24 | $5.54 | $5.12 | $5.07 | $5.11 | $5.15 | |||||
| JEWELL | 1.00 | 1.05 | 0.90 | -0.24 | -0.20 | -0.24 | -0.24 | ||||
| $6.29 | $6.34 | $6.07 | $4.93 | $4.97 | $5.01 | $5.01 | |||||
| FAIRBANK | 1.00 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | ||||
| $6.29 | $5.99 | $5.99 | $4.92 | $4.97 | $5.00 | $5.00 | |||||
| SEABOARD | 0.75 | -0.20 | -0.10 | ||||||||
| $6.30 | $6.04 | $4.97 | $5.07 | ||||||||
| IOWA FALLS | 0.85 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | ||||
| $6.14 | $5.99 | $5.99 | $4.92 | $5.02 | $4.95 | $5.00 | |||||
| SHELLROCK | 0.85 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | ||||
| $6.14 | $5.99 | $5.99 | $4.92 | $4.97 | $5.00 | $5.00 | |||||
| LINCOLNWAY | 0.85 | 0.95 | 0.50 | -0.24 | -0.15 | -0.23 | -0.19 | ||||
| $6.14 | $6.24 | $5.67 | $4.93 | $5.02 | $5.02 | $5.06 | |||||
| SINCLAIR | 0.95 | -0.28 | -0.25 | ||||||||
| $6.24 | $4.89 | $5.00 | |||||||||
| PINELAKE | 0.85 | 0.89 | 0.92 | -0.20 | -0.15 | -0.18 | -0.14 | ||||
| $6.14 | $6.18 | $6.21 | $4.97 | $5.02 | $5.07 | $5.11 | |||||
| MASON CITY | 0.88 | 0.83 | -0.24 | ||||||||
| $6.17 | $6.12 | 4.93 | |||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.85 | 0.95 | 0.60 | -0.20 | -0.15 | -0.30 | -0.30 | ||||
| $6.14 | $6.24 | $5.89 | $4.97 | $5.02 | $4.95 | $4.95 | |||||
| 0.92 | |||||||||||
| HANLONTOWN | 0.87 | 0.92 | 0.92 | -0.28 | -0.24 | -0.32 | -0.30 | ||||
| $6.16 | $6.21 | $6.21 | $4.89 | $4.93 | $4.93 | $4.95 | |||||
| SOYBEANS | |||||||||||
| JULY | AUG | SEP | NC21 | DEC | JAN | MAR | |||||
| Bman/Crad/ | 0.05 | 0.05 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| Gbrook/GrnMt/Midway | $13.84 | $13.84 | $12.64 | $12.64 | $12.69 | $12.69 | $12.54 | ||||
| Lisc/Haverhill | 0.05 | 0.05 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| $13.84 | $13.84 | $12.64 | $12.64 | $12.69 | $12.69 | $12.54 | |||||
| CedarF/Jesup/Hud/LaPo | 0.05 | 0.05 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| $13.84 | $13.84 | $12.64 | $12.64 | $12.69 | $12.69 | $12.54 | |||||
| IOWA FALLS | 0.30 | 0.35 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $14.09 | $14.14 | $13.39 | $12.89 | $13.04 | $12.94 | $12.94 | |||||
| CEDAR RAPIDS | 0.30 | 0.35 | -0.40 | -0.30 | -0.25 | -0.25 | |||||
| $14.09 | $14.14 | $12.89 | $13.04 | $12.94 | $12.94 | ||||||
| DES MOINES | 0.40 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | |||||
| $14.19 | $13.99 | $13.29 | $12.89 | $13.04 | $12.89 | ||||||
| AGP | 0.26 | 0.26 | |||||||||
| $14.05 | $14.05 | ||||||||||
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.