Grain Elevator

Cedar Rapids Mill

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Hours Of Operations

  

WEIGHT LIMITED EXTNEDED TO 90,000lbs THROUGH COTOBER 30th!

If you are wanting to split loads make sure you call the office BEFORE you deliver to set up the split account and to let us know you will be splitting loads. Thank you. 

Market Commentary 10/05/2022

By Daniel Elsner

Corn continued into consolidation station as it finished up a penny on an 11-cent day. Funds really don’t know what the supply and demand (S/D) situation will look like and with the October WASDE coming out next Wednesday they are playing the game of wait and see. Basis in the Cedar Rapids area continues to firm up as bean harvest continued to be delayed due to rain during the day. It is likely that bean harvest will continue into next week, so don’t be surprised if next week basis goes positive, we are already seeing bids for next week at a 0Z. While corn remains consolidated and technically bullish in the short term, a contrarian piece of data to look at is the Dec/March carry. Carry has widened by +2-cents to a 7-cent carry from a week and a half ago indicating a better S/D picture, while this may be due to bushels becoming available during harvest futures have continued to drift upwards.

In outside markets the dollar is still seeing fundamental strength, the sell-off during the last week was based on speculation that the Fed will pivot, and even if traders are proven right in the end, currently the fundamental remain too strong for a prolonged reversal unless the Fed says something that would indicate a more dovish tone. Yields were up again with the dollar, volatility increased with stocks down though they clawed back most of those losses as the day progressed. Oil finished up 1.5% to $87/barrel on news that OPEC+ is now looking to cut 2 million barrels of oil per day which is inflationary. Most of the gains had been priced in over the last 3 days. But with oil breaking the 40-day moving average we could see a push to the upside on the inflation and supply story, though a negative demand view could lessen the upside. Livestock clawed back some of yesterday’s loses though it didn’t to beans or bean meal any good as they continued to see red.  

The information in this communication does not constitute “investment service,” “investment advice,” or “financial product advice” as defined by laws and/or regulations in any jurisdiction, and the contents of this communication should not be construed as investment, legal or tax advice.  Each person should seek independent investment, legal and tax advice concerning the consequence of entering any transaction.

Hours subject to change. Please call ahead. If you have service requirements outside of regular hours, check with your location.

Standard

Monday-Wednesday

TBD-TBD

Thursday

7:00am-5:00pm

Friday

7:00am-TBD

Saturday

TBD-TBD

Sunday

Closed

Waxy Hours

Monday-Friday

7:00am-3:00pm

Saturday-Sunday

Closed

Quaker Hours

Monday-Thursday

6:00am-3:00pm

Friday-Sunday

Closed

Phone

Primary

800-515-1105

Address

Primary Address

1710 16th St Southeast

Cedar Rapids, Iowa 52401

Mailing Address

1710 16th St Southeast

Cedar Rapids, Iowa 52401

Commodity

Brenda Kochanny

Merchandising Manager

Jenna Hintz

Grain Origination Specialist

Cory Howk

Grain Origination Specialist

Bobby Belzer

Grain Origination Specialist

Daniel Elsner

Commodity Trading Associate