Daily Commentary
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Friday July 16th
Corn: -8 ¼ to -4 ¼
The corn market traded both sides of steady through the day today before ending with a moderate loss. Nearby values finished just over 8 cents lower with new crop off over 4 cents. Despite the soft finish to the week, corn gained 26 and 35 cents, respectively. The early week WASDE report was mostly as expected, with traders quickly returning to weather and next years demand questions. Thoughts over next year’s corn exports vary greatly with some thinking that the USDA may be under estimating export demand by over 200 million bushels. Monday will bring an updated conditions report will expectations for a small improvement.
Soybeans: +11 ¾
Soybeans were higher for much of the session today and finished moderately higher. November futures added nearly 12 cents today but traded over 28 cents higher at one point. Soy products were also higher with soybean oil gaining 100 pts. For the week, soybeans gained over 60 cents on continued talk that China was looking at more new crop bookings. Those rumors were never confirmed in the daily updates, however. Soybean basis levels were softer on the week as processors rolled their bids to the Nov and took 10-15 cents basis with it. Domestic soybean demand remains concerning as NOPA crush was disappointing along with cash markets that feel satisfied despite the tight carryout projections.
| 7/16/2021 | |||||||||||
| 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 | 5-7 | 7-1 | |||||
| EDDYVILLE | 6-5 | 6-5 | |||||||||
| STARCH | 7-3 | 7-3 | 7-3 | 7-1 | |||||||
| PENFORD | 7:30-11 | ||||||||||
| FORT DODGE | 7-4:30 | 7-4:30 | |||||||||
| JEWELL | 7:30-4 | 7:30-4 | 7:30-4 | 7:30-4 | 7:30-4 | ||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-4 | 6-4 | 6-4 | 6-12 | ||||||
| IOWA FALLS / FH | 7-5 | closed | 7-5 | 7-5 | 7-5 | ||||||
| SHELLROCK / FH | 7-5 | 7-5 | 7-5 | 7-5 | 7-12 | ||||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | 8-4 | 8-4 | ||||||
| PINELAKE | |||||||||||
| IOWA FALLS/CARGIL | 6-5 | 6-5 | 6-5 | ||||||||
| CEDAR RAPIDS/CARGIL | 6-5 | 6-5 | 6-5 | 7-3 | |||||||
| ADM DM | 6-6 | 6-6 | 6-6 | 7-3 | |||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 7/12/2021 | 21.80% | ||||||
| JULY 21 | |||||||||||
| AUG 21 | $14.55 | ||||||||||
| SEP 21 | $5.56 | ||||||||||
| DEC / NOV 21 | $5.52 | $13.92 | |||||||||
| JAN 22 | $13.94 | ||||||||||
| MAR 22 | $5.59 | $13.76 | |||||||||
| 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 | $6.31 | $5.76 | $5.22 | $5.22 | $5.27 | $5.24 | $5.24 | ||||
| Liscomb | 0.75 | 0.20 | -0.30 | -0.30 | -0.25 | -0.30 | -0.30 | ||||
| $6.31 | $5.76 | $5.22 | $5.22 | $5.27 | $5.29 | $5.29 | |||||
| Haverhill | 0.80 | 0.27 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.36 | $5.83 | $5.22 | $5.22 | $5.27 | $5.24 | $5.24 | |||||
| Midway | 0.75 | 0.25 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.31 | $5.81 | $5.22 | $5.22 | $5.27 | $5.24 | $5.24 | |||||
| Hudson/LaPorte | 0.75 | 0.22 | -0.30 | -0.30 | -0.25 | -0.35 | -0.35 | ||||
| $6.31 | $5.78 | $5.22 | $5.22 | $5.27 | $5.24 | $5.24 | |||||
| Cedar Falls | 0.80 | 0.25 | -0.30 | -0.28 | -0.25 | -0.30 | -0.30 | ||||
| $6.36 | $5.81 | $5.22 | $5.24 | $5.27 | $5.29 | $5.29 | |||||
| Jesup | 0.83 | 0.32 | -0.30 | -0.25 | -0.25 | -0.25 | -0.25 | ||||
| $6.39 | $5.88 | $5.22 | $5.27 | $5.27 | $5.34 | $5.34 | |||||
| EDDYVILLE | 0.85 | 0.95 | 0.00 | -0.15 | -0.05 | -0.14 | -0.10 | ||||
| $6.41 | $6.51 | $5.56 | $5.37 | $5.47 | $5.45 | $5.49 | |||||
| CEDAR RAPIDS | 1.10 | 0.90 | 0.40 | -0.15 | -0.07 | -0.14 | -0.07 | ||||
| $6.66 | $6.46 | $5.96 | $5.37 | $5.45 | $5.45 | $5.52 | |||||
| FORT DODGE | 1.00 | 1.05 | 0.50 | 0.00 | -0.10 | -0.14 | -0.10 | ||||
| $6.56 | $6.61 | $6.06 | $5.52 | $5.42 | $5.45 | $5.49 | |||||
| JEWELL | 1.00 | 1.05 | 1.05 | -0.24 | -0.20 | -0.24 | -0.24 | ||||
| $6.56 | $6.61 | $6.57 | $5.28 | $5.32 | $5.35 | $5.35 | |||||
| FAIRBANK | 1.07 | 1.07 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | ||||
| $6.63 | $6.63 | $6.26 | $5.27 | $5.32 | $5.34 | $5.34 | |||||
| SEABOARD | 0.75 | -0.20 | -0.10 | ||||||||
| #VALUE! | $6.31 | $5.32 | $5.42 | ||||||||
| IOWA FALLS | 0.85 | 0.70 | 0.70 | -0.25 | -0.15 | -0.30 | -0.25 | ||||
| $6.41 | $6.26 | $6.26 | $5.27 | $5.37 | $5.29 | $5.34 | |||||
| SHELLROCK | 0.85 | 0.85 | 0.70 | -0.25 | -0.20 | -0.25 | -0.25 | ||||
| $6.41 | $6.41 | $6.26 | $5.27 | $5.32 | $5.34 | $5.34 | |||||
| LINCOLNWAY | 0.85 | 0.92 | 0.50 | -0.24 | -0.15 | -0.23 | -0.19 | ||||
| $6.41 | $6.48 | $6.02 | $5.28 | $5.37 | $5.36 | $5.40 | |||||
| SINCLAIR | 0.95 | 0.95 | 0.75 | -0.28 | -0.25 | ||||||
| $6.51 | $6.51 | $6.31 | $5.24 | $5.34 | |||||||
| PINELAKE | 0.85 | 0.89 | 0.89 | -0.20 | -0.15 | -0.18 | -0.14 | ||||
| $6.41 | $6.45 | $6.45 | $5.32 | $5.37 | $5.41 | $5.45 | |||||
| MASON CITY | 0.90 | 0.90 | -0.24 | ||||||||
| $6.46 | $6.46 | 5.28 | |||||||||
| . | . | . | . | . | |||||||
| CHARLES CITY | 0.75 | 0.75 | 0.50 | -0.20 | -0.15 | -0.30 | -0.30 | ||||
| $6.31 | $6.31 | $6.06 | $5.32 | $5.37 | $5.29 | $5.29 | |||||
| 0.92 | |||||||||||
| HANLONTOWN | 0.87 | 0.92 | 0.92 | -0.28 | -0.24 | -0.32 | -0.30 | ||||
| $6.43 | $6.48 | $6.48 | $5.24 | $5.28 | $5.27 | $5.29 | |||||
| SOYBEANS | |||||||||||
| JULY | AUG | SEP | NC21 | DEC | JAN | MAR | |||||
| Bman/Crad/ | 0.65 | 0.65 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| Gbrook/GrnMt/Midway | $14.57 | $14.57 | $13.27 | $13.27 | $13.29 | $13.29 | $13.11 | ||||
| Lisc/Haverhill | 0.65 | 0.65 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| $14.57 | $14.57 | $13.27 | $13.27 | $13.29 | $13.29 | $13.11 | |||||
| CedarF/Jesup/Hud/LaPo | 0.65 | 0.65 | -0.65 | -0.65 | -0.65 | -0.65 | -0.65 | ||||
| $14.57 | $14.57 | $13.27 | $13.27 | $13.29 | $13.29 | $13.11 | |||||
| IOWA FALLS | 0.95 | 0.85 | 0.65 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $14.87 | $14.77 | $14.57 | $13.52 | $13.64 | $13.51 | $13.51 | |||||
| CEDAR RAPIDS | 0.95 | 0.85 | 0.65 | -0.40 | -0.30 | -0.25 | -0.25 | ||||
| $14.87 | $14.77 | $14.57 | $13.52 | $13.64 | $13.51 | $13.51 | |||||
| DES MOINES | 1.00 | 0.85 | 0.00 | -0.35 | -0.30 | -0.30 | |||||
| $14.92 | $14.77 | $13.92 | $13.57 | $13.64 | $13.46 | ||||||
| AGP | 0.21 | 0.21 | |||||||||
| $14.76 | $14.76 | ||||||||||
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.