Daily Commentary
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Monday October 25th
Corn: Steady
The corn market traded both sides of unchanged through the session before ending steady. The December contract traded within just a nickel’s range today before the unchanged close. Spillover strength was seen from the soybean complex today along with macro market influences. Weekly export inspections were again disappointing with shipments of just over 21 million bushels. Year to date shipments now stand 55 million bushels behind last years pace. NASS estimated corn harvest at 66% in the afternoon update, just slightly ahead of what the market was thinking.
Soybeans: +16 ¾
After a lower open last night, the soybean market rallied through the session to close moderately higher. The November contract gained nearly 17 cents on the day with support again coming from the products. Soybean oil finished over a penny higher today with meal falling from its high and ending with a small loss. Soybean export inspections were below expectations at just over 77 million bushels. Soybean demand remains concerning with export loadings 240 million bushels behind last year’s pace. China has been rumored to be looking at US soybeans, but no daily flash sales have been seen for over a week.
| 10/25/2021 | ||||||||||
| 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 | ||||||
| EDDYVILLE | 6-6 | |||||||||
| STARCH | 7-3 | |||||||||
| PENFORD | 7:30-2:30 | waxy | ||||||||
| FORT DODGE | TBD | |||||||||
| JEWELL | 7:30-6 | |||||||||
| SEABOARD | ||||||||||
| FAIRBANK / POET | 6-10 | 6-10 | 6-10 | 6-10 | ||||||
| IOWA FALLS / POET | 7-7 | 7-7 | 7-7 | 7-7 | 0-Jan | |||||
| SHELLROCK / POET | 7-10 | 7-10 | 7-10 | 7-10 | ||||||
| LINCOLN WAY | 7-7 | 7-7 | 7-7 | 7-7 | ||||||
| PINELAKE | ||||||||||
| IOWA FALLS/CARGIL | 6-7 | 6-7 | 6-7 | 6-7 | ||||||
| CEDAR RAPIDS/CARGIL | 6-7 | 6-7 | 6-7 | 6-7 | ||||||
| ADM DM | 6-6 | 6-6 | 6-6 | 6-6 | ||||||
| AGP EAGLE GROVE | ||||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 10/25/2021 | 26.20% | |||||
| DEC/NOV 21 | $5.38 | $12.37 | ||||||||
| JAN 22 | $12.47 | |||||||||
| MAR 22 | $5.47 | $12.56 | ||||||||
| MAY 22 | $5.50 | $12.65 | ||||||||
| JUN 22 | $5.51 | $12.69 | ||||||||
| DEC/NOV 22 | $5.33 | $12.34 | ||||||||
| CORN | ||||||||||
| NC21 | DEC | JAN | MAR | MAY | JUNE | NC22 | ||||
| Bman/Crad/Gbrook | -0.20 | -0.25 | -0.27 | -0.30 | -0.27 | -0.30 | -0.40 | |||
| GrnMt/Mill Junc | $5.18 | $5.13 | $5.20 | $5.17 | $5.23 | $5.21 | $4.93 | |||
| Liscomb | -0.19 | -0.23 | -0.27 | -0.25 | -0.27 | -0.30 | -0.40 | |||
| $5.19 | $5.15 | $5.20 | $5.23 | $5.23 | $5.21 | $4.93 | ||||
| Haverhill | -0.23 | -0.25 | -0.27 | -0.30 | -0.27 | -0.30 | -0.40 | |||
| $5.15 | $5.13 | $5.20 | $5.17 | $5.23 | $5.21 | $4.93 | ||||
| Midway | -0.22 | -0.25 | -0.27 | -0.30 | -0.27 | -0.30 | -0.40 | |||
| $5.16 | $5.13 | $5.20 | $5.17 | $5.23 | $5.21 | $4.93 | ||||
| Hudson/LaPorte | -0.20 | -0.25 | -0.27 | -0.30 | -0.27 | -0.30 | -0.40 | |||
| $5.18 | $5.13 | $5.20 | $5.17 | $5.23 | $5.21 | $4.93 | ||||
| Cedar Falls | -0.17 | -0.20 | -0.25 | -0.20 | -0.27 | -0.30 | -0.40 | |||
| $5.21 | $5.18 | $5.22 | $5.27 | $5.23 | $5.21 | $4.93 | ||||
| Jesup | -0.14 | -0.14 | -0.22 | -0.20 | -0.27 | -0.30 | -0.40 | |||
| $5.24 | $5.24 | $5.25 | $5.27 | $5.23 | $5.21 | $4.93 | ||||
| EDDYVILLE | 0.10 | -0.03 | -0.07 | -0.01 | 0.00 | -0.02 | -0.30 | |||
| $5.48 | $5.35 | $5.40 | $5.46 | $5.50 | $5.49 | $5.03 | ||||
| CEDAR RAPIDS | 0.10 | 0.06 | -0.02 | 0.04 | 0.07 | 0.03 | -0.25 | |||
| $5.48 | $5.44 | $5.45 | $5.51 | $5.57 | $5.54 | $5.08 | ||||
| FORT DODGE | 0.12 | 0.07 | -0.03 | -0.01 | -0.03 | -0.02 | -0.20 | |||
| $5.50 | $5.45 | $5.44 | $5.46 | $5.47 | $5.49 | $5.13 | ||||
| JEWELL | -0.08 | -0.06 | -0.12 | -0.12 | -0.12 | -0.12 | -0.30 | |||
| $5.30 | $5.32 | $5.35 | $5.35 | $5.38 | $5.39 | $5.03 | ||||
| FAIRBANK | -0.08 | -0.10 | -0.15 | -0.15 | -0.15 | -0.20 | -0.25 | |||
| $5.30 | $5.28 | $5.32 | $5.32 | $5.35 | $5.31 | $5.08 | ||||
| SEABOARD | 0.05 | -0.05 | ||||||||
| $5.43 | $5.33 | $5.50 | $5.51 | $5.33 | ||||||
| IOWA FALLS | -0.05 | -0.08 | -0.20 | -0.20 | -0.15 | -0.20 | -0.30 | |||
| $5.33 | $5.30 | $5.27 | $5.27 | $5.35 | $5.31 | $5.03 | ||||
| SHELLROCK | -0.12 | -0.08 | -0.10 | -0.10 | -0.15 | -0.15 | -0.25 | |||
| $5.26 | $5.30 | $5.37 | $5.37 | $5.35 | $5.36 | $5.08 | ||||
| LINCOLNWAY | -0.15 | -0.08 | -0.17 | -0.15 | -0.16 | -0.16 | -0.30 | |||
| $5.23 | $5.30 | $5.30 | $5.32 | $5.34 | $5.35 | $5.03 | ||||
| SINCLAIR | -0.20 | -0.12 | -0.18 | -0.15 | -0.18 | |||||
| $5.18 | $5.26 | $5.29 | $5.18 | $5.32 | $5.51 | $5.33 | ||||
| PINELAKE | -0.05 | -0.03 | -0.12 | -0.08 | -0.10 | -0.10 | -0.30 | |||
| $5.33 | $5.35 | $5.35 | $5.39 | $5.40 | $5.41 | $5.03 | ||||
| MASON CITY | -0.09 | -0.12 | ||||||||
| $5.29 | $5.26 | $5.50 | $5.51 | $5.33 | ||||||
| . | . | . | . | |||||||
| CHARLES CITY | -0.10 | -0.02 | -0.18 | -0.18 | -0.18 | |||||
| $5.28 | $5.36 | $5.29 | $5.29 | $5.32 | $5.51 | $5.33 | ||||
| HANLONTOWN | -0.10 | -0.06 | -0.19 | -0.17 | -0.20 | -0.22 | -0.30 | |||
| $5.28 | $5.32 | $5.28 | $5.30 | $5.30 | $5.29 | $5.03 | ||||
| SOYBEANS | ||||||||||
| NC21 | DEC | JAN | MAR | MAY | JUNE | NC22 | ||||
| Bman/Crad/ | -0.52 | -0.53 | -0.53 | -0.57 | -0.55 | -0.55 | -0.61 | |||
| Gbrook/GrnMt/Midway | $11.85 | $11.94 | $11.94 | $11.99 | $12.10 | $12.14 | $11.73 | |||
| Lisc/Haverhill | -0.50 | -0.53 | -0.45 | -0.45 | -0.55 | -0.55 | -0.61 | |||
| $11.87 | $11.94 | $12.02 | $12.11 | $12.10 | $12.14 | $11.73 | ||||
| CedarF/Jesup/Hud/LaPo | -0.50 | -0.57 | -0.55 | -0.57 | -0.55 | -0.55 | -0.67 | |||
| $11.87 | $11.90 | $11.92 | $11.99 | $12.10 | $12.14 | $11.67 | ||||
| IOWA FALLS | -0.15 | -0.20 | -0.15 | -0.20 | -0.20 | -0.25 | -0.50 | |||
| $12.22 | $12.27 | $12.41 | $12.36 | $12.45 | $12.44 | $11.84 | ||||
| CEDAR RAPIDS | -0.25 | -0.20 | -0.15 | -0.20 | -0.20 | -0.25 | -0.50 | |||
| $12.12 | $12.27 | $12.41 | $12.36 | $12.45 | $12.44 | $11.84 | ||||
| DES MOINES | -0.05 | -0.10 | -0.10 | -0.10 | -0.20 | -0.20 | -0.40 | |||
| $12.32 | $12.37 | $12.46 | $5.37 | $12.45 | $12.49 | $11.94 | ||||
| AGP | -0.30 | -0.25 | ||||||||
| $12.07 | $12.22 | |||||||||
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.