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 April 26, 2018, 05:57:39 AM CDT
April 10 USDA Report

Advance Trading Weekly Market Update

Wednesday Evening Comments

CORN

Corn was moderately higher today. Hope that some sort of settlement will be reached between China and the U.S. on trade issues supported corn and other commodities. CK settled 5 ¼ cents better and CZ gained 5 ¾ cents. Commodity funds were aggressive buyers of corn today as estimates put total purchases as of midsession at 12,000 contracts. Additional support came from increasing concern about the Brazilian safrinha crop as dry weather threatens to reduce yields, particularly in Southern Brazil. Less than normal rainfall is forecast for most of the safrinha corn region through the first week of May. These factors overshadowed the negative market influences of good Midwest weather and concern about ethanol demand. The planting pace is accelerating across most of the Midwest and warm and dry conditions are forecast to prevail the next 7 to 10 days. The weekly EIA production report showed last week’s ethanol output down 2.4% from the previous week with ethanol inventories up 357,000 barrels. More talk of the EPA granting waivers to refiners for biofuel blending is surfacing as the fight between the ethanol and oil industries intensifies. Some estimates have the EPA already granting waivers that would reduce biofuel consumption by one billion gallons.

BEANS

Soybeans were modestly higher today with hopes for a solution to the U.S./Chinese trade spat underpinning the market. SK was 5 ¼ cents better and SX tacked on 6 cents. Commodity funds were buyers of an estimated 5500 soybean contracts as of midsession. News that Treasury Secretary Mnuchin would be travelling to China to negotiate trade issues gave hope that a deal would be reached that would keep both countries from placing tariffs on goods including U.S. soybeans. Also supportive today was news that a cargo ship had collided with a loading dock in the export hub of Rosario in Argentina. Preliminary reports have repairs taking as many as 8 weeks. How much disruption this will be to export shipments is not yet known. The accelerating pace of corn planting is somewhat supportive to the soybean markets as it appears most of the Midwest should be able to get the crop planted in a timely fashion and thus avoid switching acreage to soybeans. Tomorrow’s export sales report is expected to show old crop soybean sales near 20 million bu.

Outside Markets
Quotes retrieved on April 26, 2018, 05:57:39 AM CDT
Board of Directors
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 April 26, 2018, 05:57:39 AM CDT
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