Daily Commentary
Monday May 17th
Corn: +8 ¾ to -5 ½
The corn market traded both sides of unchanged today before finishing mixed. Spreads were firmer today with the July contract gaining nearly 9 cents while December futures lost just over 5 cents. Export news was supportive today with the USDA announcing more new crop sales to both China and Mexico in the morning update. Weekly export inspections were within expectations at a strong 74.5 million bushels. This is above the pace needed to meet the USDA’s goal. Shipments to China also picked up this week, but they still have over 400 million bushels of unshipped bookings.
Soybeans: +1 ¼ to -3 ¾
Soybeans were also mixed on the day after trading in ranges of near 20 cents. Nearby values gained just over a penny on the day, ending over 15 cents below the early high. New crop values lost nearly 4 cents as soybean spreads firmed. Soy products were mixed today with soybean meal ending lower while nearby soybean oil made a new contract high. Soybean weekly loadings were slightly above expectations at just over 11 million bushels. This was also above the level needed to meet the projection but shipments to China do continue to disappoint. NOPA released their April crush numbers today at a disappointing 160.31 million bushels. The was well below the projections of nearly 169 million and both last years and last month’s numbers. It appears the price rationing in the soybean market is working better than what had been thought.
| 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 | |||
| EDDYVILLE | 6-5 | ||||||
| STARCH | 7-3 | ||||||
| PENFORD | 7:30-12 | WAXY | |||||
| FORT DODGE | 7-4:30 | TBD | 7-1 | 7-12 | |||
| JEWELL | 7:30-4 | CLOSED | 7:30-4 | 7:30-4 | |||
| SEABOARD | |||||||
| FAIRBANK / FH | CLOSED | CLOSED | CLOSED | CLOSED | |||
| IOWA FALLS / FH | 7-5 | 7-5 | 7-5 | 7-5 | |||
| SHELLROCK / FH | 7-5 | ||||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | 8-4 | |||
| PINELAKE | |||||||
| IOWA FALLS/CARGIL | 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 | $6.52 | $15.87 | |||||
| DEC / NOV 21 | $5.37 | $13.97 | |||||
| CORN | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/Gbrook | 0.08 | 0.08 | 0.08 | -0.30 | |||
| GrnMt/Mill Junc | $6.60 | $6.60 | $6.60 | $5.07 | |||
| Liscomb | 0.08 | 0.08 | 0.08 | -0.30 | |||
| $6.60 | $6.60 | $6.60 | $5.07 | ||||
| Haverhill | 0.12 | 0.12 | 0.12 | -0.30 | |||
| $6.64 | $6.64 | $6.64 | $5.07 | ||||
| Midway | 0.10 | 0.10 | 0.10 | -0.30 | |||
| $6.62 | $6.62 | $6.62 | $5.07 | ||||
| Hudson/LaPorte | 0.08 | 0.10 | 0.08 | -0.30 | |||
| $6.60 | $6.62 | $6.60 | $5.07 | ||||
| Cedar Falls | 0.10 | 0.10 | 0.10 | -0.30 | |||
| $6.62 | $6.62 | $6.62 | $5.07 | ||||
| Jesup | 0.17 | 0.17 | 0.17 | -0.25 | |||
| $6.69 | $6.69 | $6.69 | $5.12 | ||||
| EDDYVILLE | 0.30 | 0.40 | 0.45 | -0.20 | |||
| $6.82 | $6.92 | $6.97 | $5.17 | ||||
| CEDAR RAPIDS | 0.36 | 0.45 | 0.45 | -0.20 | |||
| $6.88 | $6.97 | $6.97 | $5.17 | ||||
| FORT DODGE | 0.40 | 0.40 | 0.42 | -0.15 | |||
| $6.92 | $6.92 | $6.94 | $5.22 | ||||
| JEWELL | 0.18 | 0.30 | 0.30 | -0.26 | |||
| $6.70 | $6.82 | $6.82 | $5.11 | ||||
| FAIRBANK | 0.30 | 0.30 | 0.30 | -0.25 | |||
| $6.82 | $6.82 | $6.82 | $5.12 | ||||
| SEABOARD | 0.25 | 0.3 | -0.20 | ||||
| $6.77 | $6.82 | $5.17 | |||||
| IOWA FALLS | 0.25 | 0.25 | 0.30 | -0.25 | |||
| $6.77 | $6.77 | $6.82 | $5.12 | ||||
| SHELLROCK | 0.28 | 0.28 | 0.30 | -0.25 | |||
| $6.80 | $6.80 | $6.82 | $5.12 | ||||
| LINCOLNWAY | 0.30 | 0.34 | 0.34 | -0.24 | |||
| $6.82 | $6.86 | $6.86 | $5.13 | ||||
| SINCLAIR | 0.22 | 0.25 | 0.25 | -0.28 | |||
| $6.74 | $6.77 | $6.77 | $5.09 | ||||
| PINELAKE | 0.25 | 0.25 | 0.28 | -0.20 | |||
| $6.77 | $6.77 | $6.80 | $5.17 | ||||
| MASON CITY | 0.23 | 0.23 | 0.23 | -0.28 | |||
| $6.75 | $6.75 | $6.75 | $5.09 | ||||
| . | . | . | . | . | |||
| CHARLES CITY | 0.28 | 0.28 | 0.30 | -0.24 | |||
| $6.80 | $6.80 | $6.82 | $5.13 | ||||
| HANLONTOWN | 0.15 | 0.21 | 0.25 | -0.30 | |||
| $6.67 | 6.73 | $6.77 | $5.07 | ||||
| SOYBEANS | |||||||
| MAY | JUNE | JULY | NC21 | ||||
| Bman/Crad/ | 0.05 | 0.05 | 0.05 | -0.65 | |||
| Gbrook/GrnMt/Midway | $15.92 | $15.92 | $15.92 | $13.32 | |||
| Lisc/Haverhill | 0.10 | 0.10 | 0.10 | -0.65 | |||
| $15.97 | $15.97 | $15.97 | $13.32 | ||||
| CedarF/Jesup/Hud/LaPo | 0.05 | 0.05 | 0.05 | -0.65 | |||
| $15.92 | $15.92 | $15.92 | $13.32 | ||||
| IOWA FALLS | 0.30 | 0.40 | 0.40 | -0.40 | |||
| $16.17 | $16.27 | $16.27 | $13.57 | ||||
| CEDAR RAPIDS | 0.20 | 0.30 | 0.40 | -0.40 | |||
| $16.07 | $16.17 | $16.27 | $13.57 | ||||
| DES MOINES | 0.45 | 0.45 | 0.30 | -0.40 | |||
| $16.32 | $16.32 | $16.17 | $13.57 | ||||
| AGP | -0.25 | -0.25 | |||||
| $15.62 | $15.62 | $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.