Daily Commentary
Please check the links below for what it new at Mid Iowa
Friday August 6th
Corn: -3/4 to +3 ½
The corn market traded both sides of unchanged through the session before ending mixed. Nearby corn values finished the day slightly lower while gaining 8 cents for the week. Corn spreads were weaker today with the December contract gaining over 3 cents today. December futures finished over 11 cents higher for the week. Mid-day strength was tied to a 6-10 forecast that turned drier. New crop corn export demand remains solid as the Brazilian safrinha crop has struggled with drought and early frost concerns. Next week will bring the updated supply and demand estimate with most traders expecting a small cut the yield forecast.
Soybeans: + 8 ¼
Soybeans were higher throughout the day and finished with a moderate gain. The November contract gained over 8 cents today but ended the week losing over 12 cents. Soybean products were also higher today with both soy oil and meal ending with modest gains. The USDA did announce another new crop soybean sale in the morning release after an announcement was also made yesterday. The new crop soybean export sales pace has been concerning with some starting to think the USDA is overestimating next year’s sales. The USDA will release their updated estimates next week, but I wouldn’t expect a cut to the export forecast at this time.
| 8/6/2021 | |||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | |||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | ||||
| ADM CR | 5-6 | 5-6 | CLOSED | ||||||||
| EDDYVILLE | 6-3 | CLOSED | |||||||||
| STARCH | 7-3 | 7-3 | 7-3 | 7-12 | |||||||
| PENFORD | 730-1 | ||||||||||
| FORT DODGE | 6-5 | 6-5 | |||||||||
| JEWELL | 730-4 | CLOSED | |||||||||
| SEABOARD | |||||||||||
| FAIRBANK / FH | 6-4 | 6-4 | |||||||||
| IOWA FALLS / FH | 7-5 | 7-5 | |||||||||
| SHELLROCK / FH | 7-4 | 7-12 | |||||||||
| LINCOLN WAY | 8-4 | 8-4 | |||||||||
| PINELAKE | |||||||||||
| IOWA FALLS/CARGIL | 6-5 | 6-5 | 7-3 | ||||||||
| CEDAR RAPIDS/CARGIL | 6-5 | 6-5 | |||||||||
| ADM DM | 6-6 | 6-6 | 7-3 | ||||||||
| AGP EAGLE GROVE | |||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 8/2/2021 | 21.80% | ||||||
| AUG 21 | $14.22 | ||||||||||
| SEP 21 | $5.55 | ||||||||||
| DEC / NOV 21 | $5.56 | $13.37 | |||||||||
| JAN 22 | $13.41 | ||||||||||
| MAR 22 | $5.65 | $13.38 | |||||||||
| CORN | |||||||||||
| AUG | SEP | NC21 | DEC | JAN | MAR | ||||||
| Bman/Crad/Gbrook | 0.80 | 0.50 | -0.28 | -0.25 | -0.35 | -0.35 | |||||
| GrnMt/Mill Junc | $6.35 | $6.05 | $5.28 | $5.31 | $5.30 | $5.30 | |||||
| Liscomb | 0.80 | 0.50 | -0.28 | -0.25 | -0.30 | -0.30 | |||||
| $6.35 | $6.05 | $5.28 | $5.31 | $5.35 | $5.35 | ||||||
| Haverhill | 0.88 | 0.50 | -0.28 | -0.25 | -0.35 | -0.35 | |||||
| $6.43 | $6.05 | $5.28 | $5.31 | $5.30 | $5.30 | ||||||
| Midway | 0.83 | 0.50 | -0.28 | -0.25 | -0.35 | -0.35 | |||||
| $6.38 | $6.05 | $5.28 | $5.31 | $5.30 | $5.30 | ||||||
| Hudson/LaPorte | 0.85 | 0.50 | -0.28 | -0.25 | -0.35 | -0.35 | |||||
| $6.40 | $6.05 | $5.28 | $5.31 | $5.30 | $5.30 | ||||||
| Cedar Falls | 0.88 | 0.50 | -0.28 | -0.25 | -0.30 | -0.30 | |||||
| $6.43 | $6.05 | $5.28 | $5.31 | $5.35 | $5.35 | ||||||
| Jesup | 0.90 | 0.50 | -0.23 | -0.25 | -0.25 | -0.25 | |||||
| $6.45 | $6.05 | $5.33 | $5.31 | $5.40 | $5.40 | ||||||
| EDDYVILLE | 1.15 | 0.20 | -0.15 | -0.05 | -0.14 | -0.10 | |||||
| $6.70 | $5.75 | $5.41 | $5.51 | $5.51 | $5.55 | ||||||
| CEDAR RAPIDS | 1.25 | 0.80 | -0.12 | -0.04 | -0.11 | -0.04 | |||||
| $6.80 | $6.35 | $5.44 | $5.52 | $5.54 | $5.61 | ||||||
| FORT DODGE | 1.05 | 1.10 | 0.00 | -0.08 | -0.14 | -0.10 | |||||
| $6.60 | $6.65 | $5.56 | $5.48 | $5.51 | $5.55 | ||||||
| JEWELL | 0.78 | 0.83 | -0.24 | -0.20 | -0.24 | -0.24 | |||||
| $6.33 | $6.39 | $5.32 | $5.36 | $5.41 | $5.41 | ||||||
| FAIRBANK | 1.15 | 0.70 | -0.25 | -0.2 | -0.25 | -0.25 | |||||
| $6.70 | $6.25 | $5.31 | $5.36 | $5.40 | $5.40 | ||||||
| SEABOARD | 1.00 | 1.00 | -0.15 | -0.10 | |||||||
| $6.55 | $6.55 | $5.41 | $5.46 | ||||||||
| IOWA FALLS | 0.80 | 0.90 | -0.25 | -0.15 | -0.30 | -0.25 | |||||
| $6.35 | $6.45 | $5.31 | $5.41 | $5.35 | $5.40 | ||||||
| SHELLROCK | 1.00 | 1.00 | -0.25 | -0.15 | -0.25 | -0.25 | |||||
| $6.55 | $6.55 | $5.31 | $5.41 | $5.40 | $5.40 | ||||||
| LINCOLNWAY | 0.90 | 0.50 | -0.24 | -0.15 | -0.23 | -0.19 | |||||
| $6.45 | $6.06 | $5.32 | $5.41 | $5.42 | $5.46 | ||||||
| SINCLAIR | 0.90 | 0.70 | -0.28 | -0.25 | |||||||
| $6.45 | $6.25 | $5.28 | $5.40 | ||||||||
| PINELAKE | 0.90 | 0.90 | -0.20 | -0.15 | -0.18 | -0.14 | |||||
| $6.45 | $6.45 | $5.36 | $5.41 | $5.47 | $5.51 | ||||||
| MASON CITY | 0.90 | 0.70 | -0.2 | -0.15 | |||||||
| $6.45 | $6.25 | $5.36 | $5.41 | ||||||||
| . | . | . | . | ||||||||
| CHARLES CITY | 0.90 | 0.65 | -0.20 | -0.15 | -0.30 | -0.30 | |||||
| $6.45 | $6.20 | $5.36 | $5.41 | $5.35 | $5.35 | ||||||
| 0.92 | |||||||||||
| HANLONTOWN | 0.82 | 0.82 | -0.25 | -0.21 | -0.30 | -0.30 | |||||
| $6.37 | $6.37 | $5.31 | $5.35 | $5.35 | $5.35 | ||||||
| SOYBEANS | |||||||||||
| AUG | SEP | NC21 | DEC | JAN | MAR | ||||||
| Bman/Crad/ | 0.35 | -0.60 | -0.60 | -0.65 | -0.65 | -0.65 | |||||
| Gbrook/GrnMt/Midway | $13.72 | $12.77 | $12.77 | $12.76 | $12.76 | $12.73 | |||||
| Lisc/Haverhill | 0.35 | -0.60 | -0.60 | -0.65 | -0.65 | -0.65 | |||||
| $13.72 | $12.77 | $12.77 | $12.76 | $12.76 | $12.73 | ||||||
| CedarF/Jesup/Hud/LaPo | 0.35 | -0.60 | -0.60 | -0.65 | -0.65 | -0.65 | |||||
| $13.72 | $12.77 | $12.77 | $12.76 | $12.76 | $12.73 | ||||||
| IOWA FALLS | 0.55 | 0.50 | -0.30 | -0.30 | -0.25 | -0.25 | |||||
| $13.92 | $13.87 | $13.07 | $13.11 | $13.13 | $13.13 | ||||||
| CEDAR RAPIDS | 0.60 | 0.50 | -0.30 | -0.30 | -0.25 | -0.25 | |||||
| $13.97 | $13.87 | $13.07 | $13.11 | $13.13 | $13.13 | ||||||
| DES MOINES | 0.60 | 0.10 | -0.20 | -0.20 | -0.20 | -0.30 | |||||
| $13.97 | $13.47 | $13.17 | $13.21 | $13.18 | $5.35 | ||||||
| AGP | 0.30 | 0.20 | |||||||||
| $13.67 | $13.57 | ||||||||||
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.