Been Thinking...

"Sticking to it is the genius!  Any other bright-minded fellow can accomplish just as much if he will stick like hell and remember nothing that's any good works by itself.  You got to make the damn thing work."

Thomas Edison

DFE Cash Bids
Notes Delivery Start Delivery End Cash Price Price Change Basis
Corn
Soybeans

Quotes retrieved on May 21, 2018, 11:53:46 AM CDT
April 10 USDA Report

Outside Markets
Quotes retrieved on May 21, 2018, 11:53:46 AM CDT
Board of Directors
Monday Morning Comments

Morning Market Direction:  Corn up 3; Beans up 18

The markets are higher with beans enjoying solid gains following news that China and the US would drop all tariffs. US officials also claim that China will begin buying more US goods including meat. The market now believes China will begin taking unshipped US bean purchases and may even resume buying soybeans from the US.

Corn and soybean futures gapped higher following the perceived outcome of the trade dispute. “Risk-on” type attitude as we begin a new week of trading. Equities, most energies and the US dollar are all higher this morning with the Dow approaching 25,000 once again.

Safras lowered their estimate for Brazil's second corn crop, now seen at 48.76 million tons, 27.6 percent smaller than in 2017. The estimate is 16.6 percent lower than their April estimate. The consultancy blames a smaller planted area and bad climate conditions for the sharp output reduction this year. Their combined estimate for the first and second crop is pegged at 79.02 million tons compared with 107.9 million tons in 2016/17.

Overnight rains have moved across IA & MO and now pushing across IL with the heaviest rains moving thru N IL. Needed moisture moved across portions of S and C IL, although these rains appeared to be spotty. An active weekend of planting activity occurred in N IA and S MN which allowed a large amount of corn to be put into the ground. However, this week’s forecast looks wetter for the region, limiting activity until late in the work-week.

NOAA’s 6-10 and 8-14 day maps continues to show above normal temps and drier than normal conditions for a large portion of the Midwest and most notably the WCB.

This afternoon’s Crop Progress report is expected to show the US corn crop near 72-75% planted, soybeans around 52-55% planted and spring wheat near 82% planted.

Here’s a long-term bullish story for meats and grains/oilseeds. China is planning to scrap a four-decade long ban on the number of children a family can have, according to a Bloomberg article. The timing on this decision could be made in the fourth quarter of 2018 or early into 2019. Three years ago, the country allowed families to have two children instead of just one, as had been the case for more than three decades.

Summary Items:
Higher markets following news China and the US will remove any trade tariffs.
“Risk-on” type attitude as the Dow pushes 220 points higher.
Safras lowered Brazil’s 2nd corn crop by 16.6% vs their April est; 27.6% below last year.

2017 Crop Insurance Prices

Corn - $3.96 Spring        $3.49 Fall

Beans - $10.19 Spring    $9.75 Fall

 

Grain Acceptance Policy

Danvers Farmers Elevator will not accept grain containing transgenic events that are not approved for U.S. Export Markets including, but not limited to, Canada, China, South Korea, The European Union, Japan and Mexico.

 

CME Futures Markets
Quotes retrieved on May 21, 2018, 11:53:46 AM CDT
Information gathered for this website is thought to be from reliable sources, but cannot be guaranteed as to its accuracy or completeness by DFE.