Daily Commentary
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Monday July 12th
Corn: +15 ¾ to +16
The corn market had a solid session that saw it just briefly trade lower on last nights open. Both the Sep and Dec futures gained near 16 cents and finished near the high of the session. The corn market was strong pre-report despite a somewhat disappointing export inspections report. The 39.1 million bushels shipped was the lowest total in 25 weeks. The 11AM release of the July WASDE was mostly as expected by trade with just minor revisions seen. Old crop stocks dropped by 25 million due to a small increase in feed demand. The new crop tables saw adjustments to demand and production due to the increased acreage of the June 30th report. New crop ending stocks fell within estimates at 1.432 billion bushels. The market will likely go back to trading weather forecasts along with expectations for the yield estimate to begin to fall in the August update.
Soybeans: +25 to +21
Soybeans were also higher for much of the session and ended the day with moderate gains. The nearby contract added 25 cents on the day and did trade above last week’s high today. New crop values gained just over 20 cents today and finished near the high of the session. Soy products were also higher today with soybean oil posting a moderate gain. Soybean export inspections were very near last week’s number at just over 7 million bushels. The July WASDE update was mostly a non-event for the soybean trade with both old crop and new crop ending stocks remaining unchanged from June. The USDA did cut old crop demand to both exports and crush that was offset by a smaller soy import number. As with corn, 2021 yield will be the game changer from here forward.
| 7/12/2021 | |||||||||||
| 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 | 7-2 | 7-2 | |||||
| EDDYVILLE | 6-5 | ||||||||||
| STARCH | 7-3 | 7-11 | |||||||||
| PENFORD | 730-10 | WAXY | 7:30-10 | ||||||||
| FORT DODGE | 630-5 | 6:30-5 | |||||||||
| JEWELL | CLOSED | 7:30-4 | 7:30-4 | 7:30-4 | |||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-4 | 6-4 | 6-12 | |||||||
| IOWA FALLS / FH | CLOSED | 7-5 | 7-12 | 7-12 | |||||||
| SHELLROCK / FH | 7-5 | 7-5 | 7-5 | 7-12 | |||||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | 8-4 | |||||||
| PINELAKE | |||||||||||
| IOWA FALLS/CARGIL | 6-5 | 6-5 | 6-5 | 6-5 | |||||||
| CEDAR RAPIDS/CARGIL | 6-5 | 6-5 | 6-5 | 6-5 | |||||||
| ADM DM | 6-6 | 6-6 | 6-6 | 6-6 | 7-3 | ||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 7/12/2021 | 21.80% | ||||||
| JULY 21 | $6.69 | $14.32 | |||||||||
| AUG 21 | $14.04 | ||||||||||
| SEP 21 | $5.45 | ||||||||||
| DEC / NOV 21 | $5.33 | $13.50 | |||||||||
| JAN 22 | $13.54 | ||||||||||
| MAR 22 | $5.40 | $13.39 | |||||||||
| 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 | $6.15 | $5.65 | $5.03 | $5.03 | $5.08 | $5.05 | $5.05 | ||||
| Liscomb | 0.75 | 0.20 | -0.30 | -0.30 | -0.25 | -0.30 | -0.30 | ||||
| $6.20 | $5.65 | $5.03 | $5.03 | $5.08 | $5.10 | $5.10 | |||||
| Haverhill | 0.75 | 0.27 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.20 | $5.72 | $5.03 | $5.03 | $5.08 | $5.05 | $5.05 | |||||
| Midway | 0.70 | 0.25 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.15 | $5.70 | $5.03 | $5.03 | $5.08 | $5.05 | $5.05 | |||||
| Hudson/LaPorte | 0.70 | 0.22 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.15 | $5.67 | $5.03 | $5.03 | $5.08 | $5.05 | $5.05 | |||||
| Cedar Falls | 0.70 | 0.25 | -0.30 | -0.28 | -0.25 | -0.30 | -0.30 | ||||
| $6.15 | $5.70 | $5.03 | $5.05 | $5.08 | $5.10 | $5.10 | |||||
| Jesup | 0.75 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | ||||
| $6.20 | $5.77 | $5.03 | $5.08 | $5.08 | $5.15 | $5.15 | |||||
| EDDYVILLE | 0.85 | 0.90 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | ||||
| $6.30 | $6.35 | $5.45 | $5.18 | $5.28 | $5.26 | $5.30 | |||||
| CEDAR RAPIDS | 0.85 | 0.90 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | ||||
| $6.30 | $6.35 | $5.85 | $5.18 | $5.26 | $5.26 | $5.33 | |||||
| FORT DODGE | 0.85 | 1.05 | 0.40 | -0.05 | -0.10 | -0.14 | -0.10 | ||||
| $6.30 | $6.50 | $5.85 | $5.28 | $5.23 | $5.26 | $5.30 | |||||
| JEWELL | 1.00 | 1.05 | 0.90 | -0.24 | -0.20 | -0.24 | -0.24 | ||||
| $6.45 | $6.50 | $6.23 | $5.09 | $5.13 | $5.16 | $5.16 | |||||
| FAIRBANK | 1.00 | 0.70 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | ||||
| $6.45 | $6.15 | $6.15 | $5.08 | $5.13 | $5.15 | $5.15 | |||||
| SEABOARD | 0.75 | -0.20 | -0.10 | ||||||||
| $6.69 | $6.20 | $5.13 | $5.23 | ||||||||
| IOWA FALLS | 0.85 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | ||||
| $6.30 | $6.15 | $6.15 | $5.08 | $5.18 | $5.10 | $5.15 | |||||
| SHELLROCK | 0.85 | 0.70 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | ||||
| $6.30 | $6.15 | $6.15 | $5.08 | $5.13 | $5.15 | $5.15 | |||||
| LINCOLNWAY | 0.85 | 0.92 | 0.50 | -0.24 | -0.15 | -0.23 | -0.19 | ||||
| $6.30 | $6.37 | $5.83 | $5.09 | $5.18 | $5.17 | $5.21 | |||||
| SINCLAIR | 0.95 | -0.28 | -0.25 | ||||||||
| $6.40 | $5.05 | $5.15 | |||||||||
| PINELAKE | 0.85 | 0.89 | 0.92 | -0.20 | -0.15 | -0.18 | -0.14 | ||||
| $6.30 | $6.34 | $6.37 | $5.13 | $5.18 | $5.22 | $5.26 | |||||
| MASON CITY | 0.88 | 0.83 | -0.24 | ||||||||
| $6.33 | $6.28 | 5.09 | |||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.85 | 0.95 | 0.60 | -0.20 | -0.15 | -0.30 | -0.30 | ||||
| $6.30 | $6.40 | $6.05 | $5.13 | $5.18 | $5.10 | $5.10 | |||||
| 0.92 | |||||||||||
| HANLONTOWN | 0.87 | 0.92 | 0.92 | -0.28 | -0.24 | -0.32 | -0.30 | ||||
| $6.32 | $6.37 | $6.37 | $5.05 | $5.09 | $5.08 | $5.10 | |||||
| SOYBEANS | |||||||||||
| JULY | AUG | SEP | NC21 | DEC | JAN | MAR | |||||
| Bman/Crad/ | 0.10 | 0.05 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| Gbrook/GrnMt/Midway | $14.14 | $14.09 | $12.85 | $12.85 | $12.89 | $12.89 | $12.74 | ||||
| Lisc/Haverhill | 0.10 | 0.05 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| $14.14 | $14.09 | $12.85 | $12.85 | $12.89 | $12.89 | $12.74 | |||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.05 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| $14.14 | $14.09 | $12.85 | $12.85 | $12.89 | $12.89 | $12.74 | |||||
| IOWA FALLS | 0.30 | 0.35 | 0.10 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $14.34 | $14.39 | $13.60 | $13.10 | $13.24 | $13.14 | $13.14 | |||||
| CEDAR RAPIDS | 0.30 | 0.35 | -0.40 | -0.30 | -0.25 | -0.25 | |||||
| $14.34 | $14.39 | $13.10 | $13.24 | $13.14 | $13.14 | ||||||
| DES MOINES | 0.40 | 0.20 | 0.00 | -0.40 | -0.30 | -0.30 | |||||
| $14.44 | $14.24 | $13.50 | $13.10 | $13.24 | $13.09 | ||||||
| AGP | 0.26 | 0.26 | |||||||||
| $14.30 | $14.30 | ||||||||||
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.