Daily Commentary
Friday September 17th
Corn: -2 ¼
The corn market spent much of the session trading lower before ending with a small loss on the day. December futures traded nearly 8 cents lower at one point today while finishing just over 2 cents lower. Fresh news was limited today as the early week talk of disappointing yields has mostly faded. Reports that corn is drying down fast in the Eastern belt have been heard with thoughts that harvest activity will increase sharply this weekend. Corn demand is a growing concern with China absent from the export market for the last several months. Corn basis levels continue to soften as harvest begins to progress, but soybean harvest could help some quick premiums return.
Soybeans: -12
The soybean market was also lower for much of the day with overnight losses extending in the daytime hours. The November contract ended the day 12 cents lower and traded near 20 cents lower mid-morning. Soy products were also lower today with meal and soy oil ending with modest losses. The USDA did announce another flash sale to China in their morning release after the mid-week cancellations. Reports that China has booked South American soybeans for October have been heard, with those being very concerning overall US soybean export demand. Much of the early export concerns surround the hurricane damage, but we will need to extend the export season into Brazil’s peak export timeframe to make up the shortfall.
| 9/17/2021 | ||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | ||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | |||
| ADM CR | 5-8 | 5-8 | 5-8 | 5-5 | 5-5 | |||||
| EDDYVILLE | 6-12 | CLOSED | ||||||||
| STARCH | 7-3 | CLOSED | ||||||||
| PENFORD | 730-230 | 730-230 | ||||||||
| FORT DODGE | 8-6 | 12-5 | ||||||||
| JEWELL | 730-4 | 730-4 | 730-4 | 730-4 | 730-4 | |||||
| SEABOARD | 6-430 | 6-430 | 6-430 | 6-430 | 6-430 | |||||
| FAIRBANK / POET | 6-4 | 6-4 | 6-4 | 6-4 | 6-4 | |||||
| IOWA FALLS / POET | 7-5 | 7-5 | 7-5 | 7-5 | 7-5 | CLOSED | ||||
| SHELLROCK / POET | -5 | 7-5 | 7-5 | 7-5 | 7-5 | CLOSED | ||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | 8-4 | 8-4 | |||||
| PINELAKE | ||||||||||
| IOWA FALLS/CARGIL | CLOSED | 6-7 | 6-7 | 6-7 | 6-7 | CLOSED | 0-Jan | |||
| CEDAR RAPIDS/CARGIL | 6-7 | 6-7 | 6-7 | 6-7 | 6-7 | CLOSED | ||||
| ADM DM | 6-6 | 6-6 | 6-6 | 6-6 | 6-6 | 7-3 | ||||
| AGP EAGLE GROVE | 7-6 | 7-6 | 7-6 | 7-6 | 7-6 | 7-4 | ||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 9/13/2021 | 23.20% | |||||
| AUG 21 | ||||||||||
| SEP 21 | $0.00 | |||||||||
| DEC / NOV 21 | $5.27 | $12.84 | ||||||||
| JAN 22 | $12.93 | |||||||||
| MAR 22 | $5.34 | $12.97 | ||||||||
| CORN | ||||||||||
| SEP 17TH | NC21 | DEC | JAN | MAR | ||||||
| Bman/Crad/Gbrook | -0.28 | -0.28 | -0.25 | -0.30 | -0.30 | |||||
| GrnMt/Mill Junc | $4.99 | $4.99 | $5.02 | $5.04 | $5.04 | |||||
| Liscomb | -0.25 | -0.25 | -0.23 | -0.30 | -0.25 | |||||
| $5.02 | $5.02 | $5.04 | $5.04 | $5.09 | ||||||
| Haverhill | -0.28 | -0.28 | -0.25 | -0.30 | -0.30 | |||||
| $4.99 | $4.99 | $5.02 | $5.04 | $5.04 | ||||||
| Midway | -0.25 | -0.25 | -0.25 | -0.30 | -0.30 | |||||
| $5.02 | $5.02 | $5.02 | $5.04 | $5.04 | ||||||
| Hudson/LaPorte | -0.25 | -0.28 | -0.25 | -0.30 | -0.30 | |||||
| $5.02 | $4.99 | $5.02 | $5.04 | $5.04 | ||||||
| Cedar Falls | -0.28 | -0.28 | -0.20 | -0.25 | -0.20 | |||||
| $5.02 | $4.99 | $5.07 | $5.09 | $5.14 | ||||||
| Jesup | -0.18 | -0.18 | -0.18 | -0.25 | -0.25 | |||||
| $5.09 | $5.09 | $5.09 | $5.09 | $5.09 | ||||||
| EDDYVILLE | -0.15 | -0.25 | -0.13 | -0.17 | -0.12 | |||||
| $5.12 | $5.02 | $5.14 | $5.17 | $5.22 | ||||||
| CEDAR RAPIDS | 0.00 | -0.12 | -0.04 | -0.11 | -0.04 | |||||
| $5.27 | $5.15 | $5.23 | $5.23 | $5.30 | ||||||
| FORT DODGE | 0.40 | 0.00 | -0.10 | -0.15 | -0.10 | |||||
| $5.67 | $5.27 | $5.17 | $5.19 | $5.24 | ||||||
| JEWELL | -0.10 | -0.20 | -0.14 | -0.2 | -0.24 | |||||
| $5.17 | $5.07 | $5.13 | $5.14 | $5.10 | ||||||
| FAIRBANK | 0.45 | -0.20 | -0.15 | -0.25 | -0.25 | |||||
| $5.72 | $5.07 | $5.12 | $5.09 | $5.09 | ||||||
| SEABOARD | 0.50 | -0.15 | -0.10 | |||||||
| $5.77 | $5.12 | $5.17 | ||||||||
| IOWA FALLS | 0.20 | -0.20 | -0.15 | -0.30 | -0.25 | |||||
| $5.47 | $5.07 | $5.12 | $5.04 | $5.09 | ||||||
| SHELLROCK | 0.50 | -0.20 | -0.15 | -0.25 | -0.25 | |||||
| $5.77 | $5.07 | $5.12 | $5.09 | $5.09 | ||||||
| LINCOLNWAY | 0.15 | -0.16 | -0.12 | -0.20 | -0.16 | |||||
| $5.42 | $5.11 | $5.15 | $5.14 | $5.18 | ||||||
| SINCLAIR | 0.40 | -0.25 | -0.18 | -0.25 | -0.2 | |||||
| $5.67 | $5.02 | $5.09 | $5.09 | $5.14 | ||||||
| PINELAKE | 0.55 | -0.12 | -0.10 | -0.16 | -0.12 | |||||
| $5.82 | $5.15 | $5.17 | $5.18 | $5.22 | ||||||
| MASON CITY | 0.50 | -0.17 | -0.12 | |||||||
| $0.50 | $5.10 | $5.15 | ||||||||
| . | . | . | . | |||||||
| CHARLES CITY | 0.50 | -0.16 | -0.12 | -0.23 | -0.23 | |||||
| $0.50 | $5.11 | $5.15 | $5.11 | $5.11 | ||||||
| HANLONTOWN | 0.00 | -0.20 | -0.16 | -0.25 | -0.22 | |||||
| $5.27 | $5.07 | $5.11 | $5.09 | $5.12 | ||||||
| SOYBEANS | ||||||||||
| SEP 17TH | NC21 | DEC | JAN | MAR | ||||||
| Bman/Crad/ | -0.60 | -0.60 | -0.60 | -0.60 | -0.65 | |||||
| Gbrook/GrnMt/Midway | $12.24 | $12.24 | $12.33 | $12.33 | $12.32 | |||||
| Lisc/Haverhill | -0.55 | -0.55 | -0.57 | -0.57 | -0.65 | |||||
| $12.29 | $12.29 | $12.36 | $12.36 | $12.32 | ||||||
| CedarF/Jesup/Hud/LaPo | -0.55 | -0.55 | -0.60 | -0.60 | -0.65 | |||||
| $12.29 | $12.29 | $12.33 | $12.33 | $12.32 | ||||||
| IOWA FALLS | -0.40 | -0.30 | -0.25 | -0.20 | -0.20 | |||||
| $12.44 | $12.54 | $12.68 | $12.77 | $12.77 | ||||||
| CEDAR RAPIDS | -0.40 | -0.30 | -0.25 | -0.20 | -0.20 | |||||
| $12.44 | $12.54 | $12.68 | $12.77 | $12.77 | ||||||
| DES MOINES | -0.20 | -0.30 | -0.20 | -0.20 | -0.30 | |||||
| $12.64 | $12.54 | $12.73 | $12.77 | $5.04 | ||||||
| AGP | -0.10 | -0.30 | ||||||||
| $12.74 | $13.35 | |||||||||
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.