Daily Commentary
Wednesday May 5th
Corn: +11 ¾ to +24 ¼
The corn market was again higher today, finishing with sharp gains. July futures gained nearly 12 cents on the day while making a new high. The December contract led the corn market today, gaining over 24 cents and ending above the $6 level. US and South American weather forecasts remain supportive on dryness in Brazil and the Western corn belt. Early old crop gains were limited by a morning USDA announcement that showed a Chinese purchase cancellation. The weekly energy report was mixed today showing a small increase in production over last week but did show a solid build in ethanol stocks. This was the first build in stocks in 6 weeks.
Soybeans: +4 to +19 ½
Soybeans also finished higher on the day after a mixed early trade. Nearby soybeans gained just 4 cents on the day after trading in a range of over 20 cents. As with corn, it was the new crop contract that showed the way, gaining nearly 20 cents. Soybean products were mixed today with soybean meal gaining nearly $3. Soybeans benefitted from the strong corn market today along with total acreage concerns. Tomorrow will bring the weekly export report with the trade expecting old crop sales of near 5 million bushels.
| 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 | 6-430 | 6-430 | |||||
| STARCH | 7-3 | ||||||
| PENFORD | 730-2 | ||||||
| FORT DODGE | 7-1 | ||||||
| JEWELL | 730-4 | 730-4 | |||||
| SEABOARD | |||||||
| FAIRBANK / FH | 6-4 | 6-12 | |||||
| IOWA FALLS / FH | 7-5 | 7-5 | |||||
| SHELLROCK / FH | CLOSED | 7-5 | |||||
| LINCOLN WAY | 7-4 | 7-4 | |||||
| PINELAKE | 730-4 | 730-4 | |||||
| IOWA FALLS/CARGIL | APPT | APPT | |||||
| CEDAR RAPIDS/CARGIL | APPT | APPT | |||||
| ADM DM | 6-6 | 6-6 | 7-3 | ||||
| AGP EAGLE GROVE | 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 | $7.53 | $15.82 | |||||
| JULY 21 | $7.08 | $15.42 | |||||
| DEC / NOV 21 | $6.05 | $13.83 | |||||
| CORN | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/Gbrook | 0.08 | 0.08 | 0.08 | -0.35 | |||
| GrnMt/Mill Junc | $7.16 | $7.16 | $7.16 | $5.70 | |||
| Liscomb | 0.08 | 0.08 | 0.08 | -0.30 | |||
| $7.16 | $7.16 | $7.16 | $5.75 | ||||
| Haverhill | 0.12 | 0.12 | 0.12 | -0.35 | |||
| $7.20 | $7.20 | $7.20 | $5.70 | ||||
| Midway | 0.10 | 0.10 | 0.10 | -0.35 | |||
| $7.18 | $7.18 | $7.18 | $5.70 | ||||
| Hudson/LaPorte | 0.08 | 0.10 | 0.08 | -0.35 | |||
| $7.16 | $7.18 | $7.16 | $5.70 | ||||
| Cedar Falls | 0.10 | 0.10 | 0.10 | -0.30 | |||
| $7.18 | $7.18 | $7.18 | $5.75 | ||||
| Jesup | 0.12 | 0.12 | 0.12 | -0.25 | |||
| $7.20 | $7.20 | $7.20 | $5.80 | ||||
| EDDYVILLE | 0.30 | 0.35 | 0.33 | -0.20 | |||
| $7.38 | $7.43 | $7.41 | $5.85 | ||||
| CEDAR RAPIDS | 0.36 | 0.38 | 0.35 | -0.20 | |||
| $7.44 | $7.46 | $7.43 | $5.85 | ||||
| FORT DODGE | 0.34 | 0.36 | 0.35 | -0.13 | |||
| $7.42 | $7.44 | $7.43 | $5.92 | ||||
| JEWELL | 0.15 | 0.22 | 0.25 | -0.3 | |||
| $7.23 | $7.30 | $7.33 | $5.75 | ||||
| FAIRBANK | 0.23 | 0.23 | 0.23 | -0.25 | |||
| $7.31 | $7.31 | $7.31 | $5.80 | ||||
| SEABOARD | 0.23 | 0.28 | -0.20 | ||||
| $7.31 | $7.36 | $5.85 | |||||
| IOWA FALLS | 0.23 | 0.23 | 0.23 | -0.25 | |||
| $7.31 | $7.31 | $7.31 | $5.80 | ||||
| SHELLROCK | 0.23 | 0.23 | 0.23 | -0.25 | |||
| $7.31 | $7.31 | $7.31 | $5.80 | ||||
| LINCOLNWAY | 0.25 | 0.25 | 0.25 | -0.30 | |||
| $7.33 | $7.33 | $7.33 | $5.75 | ||||
| SINCLAIR | 0.18 | 0.21 | 0.21 | ||||
| $7.26 | $7.29 | $7.29 | |||||
| PINELAKE | 0.20 | 0.23 | 0.25 | -0.20 | |||
| $7.28 | $7.31 | $7.33 | $5.85 | ||||
| MASON CITY | 0.20 | 0.20 | 0.20 | -0.28 | |||
| $7.28 | $7.28 | $7.28 | $5.77 | ||||
| . | . | . | . | . | |||
| CHARLES CITY | 0.23 | 0.23 | 0.23 | -0.25 | |||
| $7.31 | $7.31 | $7.31 | $5.80 | ||||
| HANLONTOWN | 0.15 | 0.18 | 0.20 | -0.30 | |||
| $7.23 | 7.26 | $7.28 | $5.75 | ||||
| SOYBEANS | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/ | 0.10 | 0.10 | 0.10 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.52 | $15.52 | $15.52 | $13.18 | |||
| Lisc/Haverhill | 0.15 | 0.15 | 0.10 | -0.65 | |||
| $15.57 | $15.57 | $15.52 | $13.18 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | 0.10 | -0.65 | |||
| $15.52 | $15.52 | $15.52 | $13.18 | ||||
| IOWA FALLS | 0.35 | 0.40 | 0.40 | -0.40 | |||
| $15.77 | $15.82 | $15.82 | $13.43 | ||||
| CEDAR RAPIDS | 0.35 | 0.40 | 0.40 | -0.40 | |||
| $15.77 | $15.82 | $15.82 | $13.43 | ||||
| DES MOINES | 0.55 | 0.55 | 0.40 | -0.40 | |||
| $15.97 | $15.97 | $15.82 | $13.43 | ||||
| AGP | 0.15 | ||||||
| $15.57 | $15.42 |
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.