Daily Commentary
Monday May 10th
Corn: -20 ½ to -27 ¼
The corn market finished the day sharply lower after trading lower the entire session. July futures ended over 20 cents lower on the day on moderate fund selling. The December contract lost over 27 cents on the day as the new corn contract limits came into play today. Weekend rainfall totals across the Western corn-belt were better and more widespread than expected, helping to pressure today’s trade. Improved chances for rain in Southern Brazil were also seen. Weekly corn export inspections were reported at just over 67 million bushels in this morning’s update. This was inline with expectations with Chinese loadings again lower than needed to meet their current bookings.
Soybeans: -2 ¼ to -19 ¼
Soybeans also finished lower today with the nearby contract trading higher briefly this morning. The July contract lost over 2 cents on the day after trading in a range of 18 cents. New crop values were under more pressure today as they ended nearly 20 cents lower. Soybean products were mixed today with soybean meal posting a small gain. Soybean weekly export loadings were also as expected at nearly 9 million bushels. China still has nearly 27 million bushels of outstanding purchases at this point. ADM did announce the construction of a new soy crush plant in North Dakota that is slated to come online in 2023.
| 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 | 6-6 | 6-6 | |
| EDDYVILLE | 6-430 | ||||||
| STARCH | 7-3 | ||||||
| PENFORD | CLOSED | TBD | |||||
| FORT DODGE | 630-530 | 630-530 | TBD | TBD | TBD | ||
| JEWELL | |||||||
| SEABOARD | |||||||
| FAIRBANK / FH | 6-4 | 6-4 | 6-4 | 6-12 | |||
| IOWA FALLS / FH | 7-5 | 7-5 | 7-5 | 7-5 | |||
| SHELLROCK / FH | 7-5 | 7-12 | |||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | 8-4 | |||
| PINELAKE | 730-4 | 730-4 | 730-4 | 730-4 | |||
| IOWA FALLS/CARGIL | APPT | APPT | CLOSED | CLOSED | |||
| CEDAR RAPIDS/CARGIL | APPT | APPT | APPT | APPT | |||
| ADM DM | 6-6 | 6-6 | 6-6 | 6-6 | 7-3 | ||
| AGP EAGLE GROVE | 7-5 | 7-5 | 7-5 | 7-5 | |||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/10/2021 | 20.90% | ||
| AUG 20 | – | – | |||||
| SEP 20 | – | – | |||||
| DEC / NOV 20 | – | – | |||||
| JAN 21 | – | #REF! | |||||
| MAR 21 | #REF! | #REF! | |||||
| MAY21 | $7.48 | $16.20 | |||||
| JULY 21 | $7.12 | $15.87 | |||||
| DEC / NOV 21 | $6.09 | $14.14 | |||||
| CORN | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/Gbrook | 0.08 | 0.08 | 0.08 | -0.30 | |||
| GrnMt/Mill Junc | $7.20 | $7.20 | $7.20 | $5.79 | |||
| Liscomb | 0.08 | 0.08 | 0.08 | -0.30 | |||
| $7.20 | $7.20 | $7.20 | $5.79 | ||||
| Haverhill | 0.12 | 0.12 | 0.12 | -0.30 | |||
| $7.24 | $7.24 | $7.24 | $5.79 | ||||
| Midway | 0.10 | 0.10 | 0.10 | -0.30 | |||
| $7.22 | $7.22 | $7.22 | $5.79 | ||||
| Hudson/LaPorte | 0.08 | 0.10 | 0.08 | -0.30 | |||
| $7.20 | $7.22 | $7.20 | $5.79 | ||||
| Cedar Falls | 0.10 | 0.10 | 0.10 | -0.30 | |||
| $7.22 | $7.22 | $7.22 | $5.79 | ||||
| Jesup | 0.12 | 0.12 | 0.12 | -0.25 | |||
| $7.24 | $7.24 | $7.24 | $5.84 | ||||
| EDDYVILLE | 0.30 | 0.38 | 0.40 | -0.20 | |||
| $7.42 | $7.50 | $7.52 | $5.89 | ||||
| CEDAR RAPIDS | 0.34 | 0.42 | 0.40 | -0.20 | |||
| $7.46 | $7.54 | $7.52 | $5.89 | ||||
| FORT DODGE | 0.35 | 0.40 | 0.36 | -0.15 | |||
| $7.47 | $7.52 | $7.48 | $5.94 | ||||
| JEWELL | 0.18 | 0.30 | 0.30 | -0.3 | |||
| $7.30 | $7.42 | $7.42 | $5.79 | ||||
| FAIRBANK | 0.25 | 0.25 | 0.25 | -0.25 | |||
| $7.37 | $7.37 | $7.37 | $5.84 | ||||
| SEABOARD | 0.25 | 0.3 | -0.20 | ||||
| $7.37 | $7.42 | $5.89 | |||||
| IOWA FALLS | 0.25 | 0.25 | 0.25 | -0.25 | |||
| $7.37 | $7.37 | $7.37 | $5.84 | ||||
| SHELLROCK | 0.25 | 0.25 | 0.25 | -0.25 | |||
| $7.37 | $7.37 | $7.37 | $5.84 | ||||
| LINCOLNWAY | 0.30 | 0.34 | 0.34 | -0.30 | |||
| $7.42 | $7.46 | $7.46 | $5.79 | ||||
| SINCLAIR | 0.20 | 0.22 | 0.22 | -0.28 | |||
| $7.32 | $7.34 | $7.34 | $5.81 | ||||
| PINELAKE | 0.20 | 0.23 | 0.25 | -0.20 | |||
| $7.32 | $7.35 | $7.37 | $5.89 | ||||
| MASON CITY | 0.23 | 0.23 | 0.23 | -0.28 | |||
| $7.35 | $7.35 | $7.35 | $5.81 | ||||
| . | . | . | . | . | |||
| CHARLES CITY | 0.23 | 0.23 | 0.25 | -0.24 | |||
| $7.35 | $7.35 | $7.37 | $5.85 | ||||
| HANLONTOWN | 0.15 | 0.18 | 0.20 | -0.30 | |||
| $7.27 | 7.3 | $7.32 | $5.79 | ||||
| SOYBEANS | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/ | 0.10 | 0.10 | 0.10 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.97 | $15.97 | $15.97 | $13.49 | |||
| Lisc/Haverhill | 0.18 | 0.15 | 0.10 | -0.65 | |||
| $16.05 | $16.02 | $15.97 | $13.49 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | 0.10 | -0.65 | |||
| $15.97 | $15.97 | $15.97 | $13.49 | ||||
| IOWA FALLS | 0.35 | 0.40 | 0.40 | -0.40 | |||
| $16.22 | $16.27 | $16.27 | $13.74 | ||||
| CEDAR RAPIDS | 0.35 | 0.40 | 0.40 | -0.40 | |||
| $16.22 | $16.27 | $16.27 | $13.74 | ||||
| DES MOINES | 0.60 | 0.60 | 0.55 | -0.35 | |||
| $16.47 | $16.47 | $16.42 | $13.79 | ||||
| AGP | 0.15 | ||||||
| $16.02 | $15.87 | ||||||
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.