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 February 22, 2018, 09:58:04 PM CST
November WASDE Report

Advance Trading Weekly Market Update

Thursday Evening Comments

CORN

Corn closed a penny higher in a 3 cent trading range today. Funds were buyers of 2,000 contracts at mid-day and hold an 8,000 contract short and so have almost liquidated a very sizeable short position. CH has touched $3.70 but do funds want to go long this market? SA production estimates at least for Argentina continue to fall with estimates in the 34-37 MMT range (USDA Feb 39 MMT.) Brazil still has roughly 60% of their second (and larger) corn crop to plant and would like to have it completed in February. Ample world stocks continue to act as a buffer against SA shortfalls. USDA Ag Forum today/tomorrow came out with 90 mln. acres planted to corn this morning – balance sheets tomorrow. General thought is ending stocks in 18/19 will be less than 17/18 but not tremendously so. Weekly ethanol report shows corn usage rebounding nicely to 110.4 mln. bu. from 105 mln. bu. last week while stocks declined 5.5 mln. gallons. Weekly corn export sales delayed until tomorrow morning and the trade expects very good sales: 1.0-1.5 MMT. A sale of 130 tmt to unknown destinations announced this morning.

BEANS

Soybeans closed 2 cents lower in a 10 cent trading range today. Funds were buyers of 3,000 contracts at mid-session and hold an estimated long position of 73,000 contracts. SBM and SBO took a breather today which was negative soybeans as meal has been driving beans higher due to Argentine SBM export storyline. Argentine production estimated in the 45-48 MMT range (USDA Feb 54 MMT.) Argentina a meal and oil exporter and losses there expected to improve U.S. SBM demand. Hanging over the market is Brazil production potential – which is still viewed as robust. Ag Forum lists U.S. bean acres at 90 mln. with balance sheets tomorrow. Trade expects larger carryout in 18/19 than 17/18. Weekly export sales tomorrow morning and expected at 600-900 tmt. Sales announcements this morning had 55 tmt for 17/18 and 55 tmt for 18/19 to unknown destinations.

Outside Markets
Quotes retrieved on February 22, 2018, 09:58:04 PM CST
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 February 22, 2018, 09:58:04 PM CST
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