Daily Comments
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Tuesday May 17th
Corn: -8 ¾ to -4 ¾
The corn market traded lower for much of the session today with just the deep deferred contracts finishing higher. Nearby values fell nearly 9 cents on the day after yesterday’s sharp move higher. The December contract was off nearly a nickel after just briefly trading higher today. Corn was able to trade independently of wheat today as it had a range of over 80 cents and finished 30 cents higher. Yesterday’s planting progress report showed corn 49% planted which was very near the market’s expectations. The planting pace remains behind the 5yr average at 67%. North Dakota continues to struggle with just 4% of the corn planted. Its hard to find a good correlation with yields based on the current pace as we have seen years with both above and below trend yields. Tomorrow will bring the weekly energy reports with ethanol production likely near steady from last week.
Soybeans: +21 ½ to +13 ½
The soybean market had a solid day that saw values firm through the session. The July contract led the way higher, gaining over 21 cents today. New crop values were also higher today, finishing 13 cents higher. Soy products were mixed today with soybean meal up slightly lower while soy oil posted a modest gain. Rumors of Chinese old crop interest helped to firm the soybean market today. The rumors were for August bookings with talk that Brazil may be done exporting by late summer. Soybean planting progress was also near estimates at 30% complete with the 5yr average at 39%. North Dakota and Minnesota stand out at the states that are furthest behind the average at this point.
Mid Iowa Cooperative has recently revised their HTA contract service fees. For details, please contact your Mid Iowa grain representative.
| 5/17/2022 | |||||||||||
| Processor Bids and Hours are subject to change, please call before hauling | |||||||||||
| HOURS | MON | TUE | WED | THURS | FRI | SAT | SUN | ||||
| ADM CR | 5-6 | 5-6 | 5-6 | 5-3 | 5-3 | ||||||
| EDDYVILLE | 6-5 | ||||||||||
| STARCH | 7-5 | 7-5 | 7-5 | ||||||||
| PENFORD | WAXY | 7:30-2:30 | 7:30-2:30 | ||||||||
| FORT DODGE | 7-3 | 7-3 | |||||||||
| JEWELL | 7:30-4 | 2-6 | 7:30-4 | ||||||||
| SEABOARD | |||||||||||
| FAIRBANK / POET | 7-3 | 7-3 | CLOSED | ||||||||
| IOWA FALLS / POET | 7-5 | 7-5 | 7-5 | ||||||||
| SHELLROCK / POET | CLOSED | 7-5 | 7-5 | ||||||||
| LINCOLN WAY | 8-4 | 8-4 | 8-4 | ||||||||
| PINELAKE | 7:30-4:15 | 7:30-4:15 | 7:30-4:15 | ||||||||
| IOWA FALLS/CARGIL | 6-5 | 6-5 | 6-5 | ||||||||
| CEDAR RAPIDS/CARGIL | 0-Jan | 6-7 | CLOSED | 6-7 | |||||||
| ADM DM | 6-6 | 6-6 | 6-6 | ||||||||
| AGP EAGLE GROVE | 7-5 | 7-5 | |||||||||
| CBOT | CORN | BEANS | Weekly fuel surch: | 5/16/2022 | 51.90% | ||||||
| MAY 22 | $7.94 | $17.23 | |||||||||
| JUL 22 | $8.01 | $16.78 | |||||||||
| DEC/NOV 22 | $7.61 | $15.25 | |||||||||
| JAN (MAR/JAN) | $7.64 | $15.27 | |||||||||
| NC ’23 | $6.56 | $14.01 | |||||||||
| CORN | |||||||||||
| MAY | JUNE | JULY | NC22 | JAN | NC23 | ||||||
| Bman/Crad/Gbrook | -0.20 | -0.17 | -0.17 | -0.40 | -0.35 | -0.50 | |||||
| GrnMt/Mill Junc | $7.81 | $7.84 | $7.84 | $7.21 | $7.24 | $6.06 | |||||
| Liscomb | -0.15 | -0.12 | -0.12 | -0.40 | -0.35 | -0.50 | |||||
| $7.86 | $7.89 | $7.89 | $7.21 | $7.24 | $6.06 | ||||||
| Haverhill | -0.15 | -0.12 | -0.12 | -0.40 | -0.35 | -0.50 | |||||
| $7.86 | $7.89 | $7.89 | $7.21 | $7.24 | $6.06 | ||||||
| Midway | -0.20 | -0.18 | -0.18 | -0.40 | -0.35 | -0.50 | |||||
| $7.81 | $7.83 | $7.83 | $7.21 | $7.24 | $6.06 | ||||||
| Hudson/LaPorte | -0.20 | -0.18 | -0.18 | -0.40 | -0.35 | -0.50 | |||||
| $7.81 | $7.83 | $7.83 | $7.21 | $7.24 | $6.06 | ||||||
| Cedar Falls | -0.10 | -0.10 | -0.10 | -0.40 | -0.35 | -0.50 | |||||
| $7.91 | $7.91 | $7.91 | $7.21 | $7.24 | $6.06 | ||||||
| Jesup | -0.07 | -0.07 | -0.07 | -0.40 | -0.35 | -0.50 | |||||
| $7.94 | $7.94 | $7.94 | $7.21 | $7.24 | $6.06 | ||||||
| EDDYVILLE | 0.10 | 0.10 | 0.07 | -0.23 | -0.22 | -0.30 | |||||
| $8.11 | $8.11 | $8.08 | $7.38 | $7.42 | $6.26 | ||||||
| CEDAR RAPIDS | 0.30 | 0.14 | 0.10 | -0.20 | -0.20 | -0.30 | |||||
| $8.31 | $8.15 | $8.11 | $7.41 | $7.44 | $6.26 | ||||||
| FORT DODGE | 0.28 | 0.28 | 0.28 | -0.18 | -0.12 | ||||||
| $8.29 | $8.29 | $8.29 | $7.43 | $7.52 | |||||||
| JEWELL | 0.12 | 0.17 | 0.17 | -0.27 | -0.27 | ||||||
| $8.13 | $8.18 | $8.18 | $7.34 | $7.37 | |||||||
| FAIRBANK | 0.10 | 0.10 | 0.10 | -0.30 | -0.25 | ||||||
| $8.11 | $8.11 | $8.11 | $7.31 | $7.36 | |||||||
| SEABOARD | 0.15 | 0.25 | 0.25 | -0.20 | |||||||
| $8.16 | $8.26 | $8.26 | $7.41 | ||||||||
| IOWA FALLS | 0.15 | 0.20 | 0.20 | -0.30 | -0.30 | ||||||
| $8.16 | $8.21 | $8.21 | $7.31 | $7.34 | |||||||
| SHELLROCK | 0.10 | 0.10 | 0.10 | -0.30 | -0.25 | ||||||
| $8.11 | $8.11 | $8.11 | $7.31 | $7.36 | |||||||
| LINCOLNWAY | 0.12 | 0.17 | 0.17 | -0.27 | -0.25 | ||||||
| $8.13 | $8.18 | $8.18 | $7.34 | $7.39 | |||||||
| SINCLAIR | 0.07 | 0.10 | 0.10 | -0.35 | -0.3 | ||||||
| $8.08 | $8.11 | $8.11 | $7.26 | $7.34 | |||||||
| PINELAKE | 0.04 | 0.09 | 0.10 | -0.30 | -0.28 | -0.38 | |||||
| $8.05 | $8.10 | $6.02 | $7.31 | $7.36 | $6.18 | ||||||
| MASON CITY | 0.08 | 0.1 | 0.1 | -0.25 | |||||||
| $8.09 | $8.11 | $8.11 | $7.36 | ||||||||
| CHARLES CITY | 0.12 | 0.12 | 0.12 | -0.26 | |||||||
| $8.13 | $8.13 | $8.13 | $7.35 | ||||||||
| HANLONTOWN | 0.10 | 0.10 | 0.10 | -0.32 | -0.30 | ||||||
| $8.11 | $8.11 | $8.11 | $7.29 | $7.31 | |||||||
| SOYBEANS | |||||||||||
| MAY | JUNE | JULY | NC22 | JAN | NC23 | ||||||
| Bman/Crad/ | -0.65 | -0.65 | -0.65 | -0.75 | -0.60 | -0.80 | |||||
| Gbrook/GrnMt/Midway | $16.13 | $16.13 | $16.13 | $14.50 | $14.62 | $13.21 | |||||
| Lisc/Haverhill | -0.60 | -0.60 | -0.60 | -0.75 | -0.60 | -0.80 | |||||
| $16.18 | $16.18 | $16.18 | $14.50 | $14.62 | $13.21 | ||||||
| CedarF/Jesup/Hud/LaPo | -0.65 | -0.65 | -0.56 | -0.75 | -0.60 | -0.80 | |||||
| $16.13 | $16.13 | $16.13 | $14.50 | $14.62 | $13.21 | ||||||
| IOWA FALLS | -1.00 | -1.00 | -0.60 | -0.40 | -0.20 | ||||||
| $15.78 | $15.78 | $16.18 | $14.85 | $15.07 | |||||||
| CEDAR RAPIDS | 0.15 | 0.10 | 0.10 | -0.35 | -0.15 | ||||||
| $16.93 | $16.88 | $16.88 | $14.90 | $15.12 | |||||||
| DES MOINES | 0.32 | 0.17 | 0.15 | -0.40 | -0.25 | ||||||
| $17.10 | $16.95 | $16.93 | $14.85 | $15.02 | |||||||
| AGP | -0.4 | -0.4 | -0.25 | ||||||||
| $16.38 | $16.38 | $15.00 | |||||||||
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.