Been Thinking...

"Don't be afraid to go out on a limb. That's where the fruit is."

​ ​H. J. Browne

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

Quotes retrieved on September 22, 2017, 06:33:28 AM CDT
Advance Weekly Comments

Updated Tuesday, Sep 12, 2017

Commitment of Traders

 

 

Date CORN BEANS
Sep 5 8,000 12,000
Sep 6 7,000 4,000
Sep 7 -10,000 -3,000
Sep 8 5,000 -5,000
Sep 11 3,000 -2,000
Net Position 

-129,200

-55,800
Record Long 395,000 225,000
Record Short  -265,000 -135,000
Thursday Closing Comments

 

CORN:

Corn futures closed fractionally higer today in a 3 cent trading range.  Weakness Monday and Tuesday has given way to a sideways trade the past two sessions with CZ down roughly a nickel so far this week.  Funds continue to hold an estimated short position of 125,000 contracts, waiting to see whether or not to add to or cover this position as harvest unfolds and more yield results become available.  Harvest activity should pick up this weekend but it may be in the bean patch as corn is not drying to producer's satisfaction in spite of the July type temperatures in much of the Midwest.  (Tomorrow is the first day of Autumn!)  Weekly export sales were a disappointing 20.7 mln bu. with Japan and Mexico, as usual, the only buyers of note.  YTD export sales commitments stand at 434 mln bu. vs. 707 mln bu. at this time last year.  Brazil and Argentina continue to offer corn at cheaper values than the U.S. and is expected to continue through harvest.  This was known before harvst but with better yield projections to go along with this corn basis is currently stagnant at best.

 

 

BEANS:

Soybeans closed fractionally higher in a 10 cent trading range today - a lot of work for not much change.  Soybeans are chopping sideways and have gained roughly 2 cents so far this week.  Funds are holding near even to slightly long (currently estimated: 5,000 contracts.)  Good export demand continues to support soybeans as we continue to see daily announcements of bean sales - this morning another 132 tmt sold to China.  Next week's export sales report should be impressive.  This week's export sales report came in above expectations at 86.0 mln bu. below last year's level at this time but the gap is narrowing.  PNW soybeans are the cheapest source for China and NOLA beans are competitive with S. America.  Also supporting soybeans is dry weather in northern Brazil being at least somewhat worrisome.  This could also be a problem for their second corn crop (Safrinha) as well but it is too early for concern - it just bears watching.  Brazil is expected to increase bean area by 2% in 17/18.  

 

Dear Danvers Patron,

We are excited to announce that Danvers Farmers Elevator and United Prairie LLC have agreed in principal to merge their agronomy businesses. United Prairie is a partnership of three cooperatives; Premier Cooperative Inc. of Champaign, Illinois, Topflight Grain Cooperative Inc. of Monticello, Illinois and CHS Inc. of Inver Grove Heights, MN. After several months of study and evaluation by the board and management of Danvers and United Prairie, Danvers has unanimously agreed to join United Prairie as a fourth member of the United Prairie ownership group. Following completion of our due diligence we expect this to take place on or around September, 1, 2017.

CLICK HERE TO LEARN MORE

 
February Crop Insurance Prices

The February Crop Insurance Prices are now available

Click Here for the information

Board of Directors
Outside Markets
Quotes retrieved on September 22, 2017, 06:33:28 AM CDT
Sep 12, 2017 USDA Production Report

CME Futures Markets
Quotes retrieved on September 22, 2017, 06:33:28 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.