Daily Commentary
Friday May 14th
Corn: -31 to -15 ½
The corn market traded higher early in the session but fell under heavy pressure through the day. July futures lost 31 cents on the day and finished the week over 88 cents lower. The December contract fared better today as the old new spreads were weaker but still finished over 15 cents lower. New crop values were off nearly 94 cents for the week. Heavy fund selling was the story of the day with estimates showing 80,000 contracts liquidated the last 2 trading sessions. China continues to book new crop corn, but it appears at the expense of old crop sales at this point. Informa released their updated acreage estimate at nearly 97 million acres today, if realized with that could add over 1 billion bushels to the new crop balance sheet.
Soybeans: +2 ¼ to +4 ¼
Soybeans finished the day with small gains after fading with spillover pressure from the falling corn market. Nearby values were just a couple cents higher on the day and ended 26 cents below the early high. New crop values gained 4 cents on the day after trading in a range of over 30 cents. For the week, cash values were off just 3 cents but the new crop lost over 32 cents. This weeks USDA’s reports contained few surprises with balance sheets mostly as expected. Export business has slowed seasonally but crush margins do remain very strong. There was more talk this week about importing Brazilian soybeans into the US.
| 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 | 5-12 | 5-12 | |
| EDDYVILLE | 6-4:30 | 6-5 | 6-12 | ||||
| STARCH | 7-3 | 7-3 | CLOSED | ||||
| PENFORD | 7:30-11 | 7:30-11 | WAXY | ||||
| FORT DODGE | 7-4:30 | 7-4:30 | TBD | CLOSED | CLOSED | ||
| JEWELL | |||||||
| SEABOARD | |||||||
| FAIRBANK / FH | |||||||
| IOWA FALLS / FH | 7-5 | 7-5 | 7-5 | ||||
| SHELLROCK / FH | CLOSED | 7-5 | CLOSED | ||||
| LINCOLN WAY | |||||||
| PINELAKE | |||||||
| IOWA FALLS/CARGIL | CLOSED | CLOSED | CLOSED | CLOSED | CLOSED | ||
| CEDAR RAPIDS/CARGIL | APPT | APPT | APPT | APPT | |||
| ADM DM | 6-6 | 6-6 | 6-6 | 6-6 | 7-3 | CLOSED | |
| AGP EAGLE GROVE | |||||||
| 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 | $6.85 | $16.04 | |||||
| JULY 21 | $6.44 | $15.86 | |||||
| DEC / NOV 21 | $5.43 | $14.01 | |||||
| CORN | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/Gbrook | 0.08 | 0.08 | 0.08 | -0.30 | |||
| GrnMt/Mill Junc | $6.52 | $6.52 | $6.52 | $5.13 | |||
| Liscomb | 0.08 | 0.08 | 0.08 | -0.30 | |||
| $6.52 | $6.52 | $6.52 | $5.13 | ||||
| Haverhill | 0.12 | 0.12 | 0.12 | -0.30 | |||
| $6.56 | $6.56 | $6.56 | $5.13 | ||||
| Midway | 0.10 | 0.10 | 0.10 | -0.30 | |||
| $6.54 | $6.54 | $6.54 | $5.13 | ||||
| Hudson/LaPorte | 0.08 | 0.10 | 0.08 | -0.30 | |||
| $6.52 | $6.54 | $6.52 | $5.13 | ||||
| Cedar Falls | 0.10 | 0.10 | 0.10 | -0.30 | |||
| $6.54 | $6.54 | $6.54 | $5.13 | ||||
| Jesup | 0.17 | 0.17 | 0.17 | -0.25 | |||
| $6.61 | $6.61 | $6.61 | $5.18 | ||||
| EDDYVILLE | 0.30 | 0.40 | 0.45 | -0.20 | |||
| $6.74 | $6.84 | $6.89 | $5.23 | ||||
| CEDAR RAPIDS | 0.36 | 0.45 | 0.45 | -0.20 | |||
| $6.80 | $6.89 | $6.89 | $5.23 | ||||
| FORT DODGE | 0.40 | 0.40 | 0.42 | -0.15 | |||
| $6.84 | $6.84 | $6.86 | $5.28 | ||||
| JEWELL | 0.18 | 0.30 | 0.30 | -0.3 | |||
| $6.62 | $6.74 | $6.74 | $5.13 | ||||
| FAIRBANK | 0.30 | 0.30 | 0.30 | -0.25 | |||
| $6.74 | $6.74 | $6.74 | $5.18 | ||||
| SEABOARD | 0.25 | 0.3 | -0.20 | ||||
| $6.69 | $6.74 | $5.23 | |||||
| IOWA FALLS | 0.25 | 0.25 | 0.30 | -0.25 | |||
| $6.69 | $6.69 | $6.74 | $5.18 | ||||
| SHELLROCK | 0.28 | 0.28 | 0.30 | -0.25 | |||
| $6.72 | $6.72 | $6.74 | $5.18 | ||||
| LINCOLNWAY | 0.30 | 0.34 | 0.34 | -0.30 | |||
| $6.74 | $6.78 | $6.78 | $5.13 | ||||
| SINCLAIR | 0.22 | 0.25 | 0.25 | -0.28 | |||
| $6.66 | $6.69 | $6.69 | $5.15 | ||||
| PINELAKE | 0.25 | 0.25 | 0.28 | -0.20 | |||
| $6.69 | $6.69 | $6.72 | $5.23 | ||||
| MASON CITY | 0.23 | 0.23 | 0.23 | -0.28 | |||
| $6.67 | $6.67 | $6.67 | $5.15 | ||||
| . | . | . | . | . | |||
| CHARLES CITY | 0.28 | 0.28 | 0.30 | -0.24 | |||
| $6.72 | $6.72 | $6.74 | $5.19 | ||||
| HANLONTOWN | 0.15 | 0.21 | 0.25 | -0.30 | |||
| $6.59 | 6.65 | $6.69 | $5.13 | ||||
| SOYBEANS | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/ | 0.10 | 0.10 | 0.10 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.96 | $15.96 | $15.96 | $13.36 | |||
| Lisc/Haverhill | 0.18 | 0.15 | 0.10 | -0.65 | |||
| $16.04 | $16.01 | $15.96 | $13.36 | ||||
| CedarF/Jesup/Hud/LaPo | 0.10 | 0.10 | 0.10 | -0.65 | |||
| $15.96 | $15.96 | $15.96 | $13.36 | ||||
| IOWA FALLS | 0.30 | 0.40 | 0.40 | -0.40 | |||
| $16.16 | $16.26 | $16.26 | $13.61 | ||||
| CEDAR RAPIDS | 0.20 | 0.30 | 0.40 | -0.40 | |||
| $16.06 | $16.16 | $16.26 | $13.61 | ||||
| DES MOINES | 0.45 | 0.45 | 0.30 | -0.40 | |||
| $16.31 | $16.31 | $16.16 | $13.61 | ||||
| AGP | -0.05 | ||||||
| $15.81 | $15.86 |
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.