Daily Commentary
Friday September 24th
Corn: -2 ½
The corn market traded near steady for most of the session today before finishing with a small loss. The December contract ended the day 2 cents lower while finishing just fractionally lower for the week. Harvest pressure along with a small bump in the ratings keep the market in check this week. Early harvest premium basis levels fading much of the week, but it appears soybean harvest will slow the corn harvest pace for the time being. Corn demand also remains a concern as export sales have slowed along with the continued stories of lower biofuel mandates. The USDA will release the quarterly stocks estimate next Thursday.
Soybeans: +3/4
Soybeans also had a quiet session that saw them end with just a fractional gain. Nearby soybeans gained less than a penny on the day and finished the week with just a 1 cent gain. Soy products were again mixed today with support from a moderately higher soy oil trade. The bean market has been remarkably strong despite what seems to be bearish information. Early harvest reports continue to be solid with many better-than-expected yields heard while demand has felt week. Early exports have been soft while South America is planting record acreage. These beans will likely be available to the world in February, meaning the US export season could be very shot.
| 9/24/2021 | ||||||||||
| 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 | 5-8 | 5-8 | 5-7 | 5-7 | |||
| EDDYVILLE | 6-8 | 6-2 | ||||||||
| STARCH | 7-3 | 7-3 | 7-11 | |||||||
| PENFORD | WAXY | 7:30-2:30 | 7:03-2:30 | |||||||
| FORT DODGE | 7-7 | 7-TBD | 7-5 | |||||||
| JEWELL | 7:30-4 | |||||||||
| SEABOARD | ||||||||||
| FAIRBANK / POET | 6-6 | 6-6 | 6-6 | |||||||
| IOWA FALLS / POET | 7-7 | 7-7 | 7-7 | 8-2 | ||||||
| SHELLROCK / POET | 7-5 | 7-5 | 7-5 | 7-3 | ||||||
| LINCOLN WAY | 8-4 | 7-7 | 7-7 | 7-7 | 7-7 | |||||
| PINELAKE | 7-4:15 | 7-4:15 | 7-4:15 | 7-2 | ||||||
| IOWA FALLS/CARGIL | 6-7 | 6-7 | 6-7 | 6-7 | 7-3 | 0-Jan | ||||
| CEDAR RAPIDS/CARGIL | 6-7 | 6-7 | 6-7 | 6-7 | 7-3 | |||||
| ADM DM | 6-10 | 6-10 | 6-10 | 7-3 | 7-3 | |||||
| AGP EAGLE GROVE | 7-6 | 7-6 | 7-6 | 7-4 | ||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 9/20/2021 | 23.20% | |||||
| AUG 21 | ||||||||||
| SEP 21 | $0.00 | |||||||||
| DEC / NOV 21 | $5.27 | $12.85 | ||||||||
| JAN 22 | $12.95 | |||||||||
| MAR 22 | $5.34 | $12.98 | ||||||||
| CORN | ||||||||||
| SEP 24TH | 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 | -0.25 | -0.25 | -0.25 | -0.30 | -0.30 | |||||
| $5.02 | $5.02 | $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 | 0.43 | -0.12 | -0.04 | -0.11 | -0.02 | |||||
| $5.70 | $5.15 | $5.23 | $5.23 | $5.32 | ||||||
| FORT DODGE | 0.20 | -0.08 | -0.06 | -0.10 | -0.05 | |||||
| $5.47 | $5.19 | $5.21 | $5.24 | $5.29 | ||||||
| JEWELL | -0.18 | -0.20 | -0.14 | -0.2 | -0.24 | |||||
| $5.09 | $5.07 | $5.13 | $5.14 | $5.10 | ||||||
| FAIRBANK | 0.00 | -0.20 | -0.15 | -0.25 | -0.25 | |||||
| $5.27 | $5.07 | $5.12 | $5.09 | $5.09 | ||||||
| SEABOARD | 0.05 | -0.15 | -0.10 | |||||||
| $5.32 | $5.12 | $5.17 | ||||||||
| IOWA FALLS | 0.00 | -0.20 | -0.15 | -0.30 | -0.25 | |||||
| $5.27 | $5.07 | $5.12 | $5.04 | $5.09 | ||||||
| SHELLROCK | 0.15 | -0.20 | -0.15 | -0.25 | -0.25 | |||||
| $5.42 | $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 | 0.00 | -0.20 | -0.15 | -0.2 | -0.18 | |||||
| $5.27 | $5.07 | $5.12 | $5.14 | $5.16 | ||||||
| PINELAKE | 0.20 | 0.10 | -0.08 | -0.16 | -0.12 | |||||
| $5.47 | $5.37 | $5.19 | $5.18 | $5.22 | ||||||
| MASON CITY | 0.25 | -0.17 | -0.12 | |||||||
| $0.25 | $5.10 | $5.15 | ||||||||
| . | . | . | . | |||||||
| CHARLES CITY | 0.30 | -0.16 | -0.12 | -0.23 | -0.23 | |||||
| $0.30 | $5.11 | $5.15 | $5.11 | $5.11 | ||||||
| HANLONTOWN | 0.25 | -0.15 | -0.1 | -0.25 | -0.22 | |||||
| $5.52 | $5.12 | $5.17 | $5.09 | $5.12 | ||||||
| SOYBEANS | ||||||||||
| SEP 17TH | NC21 | DEC | JAN | MAR | ||||||
| Bman/Crad/ | -0.55 | -0.55 | -0.60 | -0.60 | -0.65 | |||||
| Gbrook/GrnMt/Midway | $12.30 | $12.30 | $12.35 | $12.35 | $12.33 | |||||
| Lisc/Haverhill | -0.53 | -0.53 | -0.57 | -0.57 | -0.65 | |||||
| $12.32 | $12.32 | $12.38 | $12.38 | $12.33 | ||||||
| CedarF/Jesup/Hud/LaPo | -0.55 | -0.55 | -0.60 | -0.60 | -0.65 | |||||
| $12.30 | $12.30 | $12.35 | $12.35 | $12.33 | ||||||
| IOWA FALLS | -0.30 | -0.30 | -0.25 | -0.20 | -0.20 | |||||
| $12.55 | $12.55 | $12.70 | $12.78 | $12.78 | ||||||
| CEDAR RAPIDS | -0.20 | -0.30 | -0.25 | -0.20 | -0.20 | |||||
| $12.65 | $12.55 | $12.70 | $12.78 | $12.78 | ||||||
| DES MOINES | -0.30 | -0.30 | -0.20 | -0.20 | -0.30 | |||||
| $12.55 | $12.55 | $12.75 | $12.78 | $5.04 | ||||||
| AGP | -0.20 | -0.20 | ||||||||
| $12.65 | $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.