Danvers Farmers Elevator employees will have Friday, March 30, 2018 off in observance of the Good Friday Holiday, as the CME Grain Markets are closed on this day each year.  We will return at regular opening time on Monday, April 2, 2018.

United Prairie Agronomy and Seed employees will be in the office for normal working hours.

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

Quotes retrieved on March 24, 2018, 09:53:35 PM CDT
March USDA Report

Advance Trading Weekly Market Update

Friday Morning Comments

10:00 Market Direction:  Corn down 2; Beans down 9 old crop, down 7 new crop

The grain markets are under heavy pressure this morning with corn and beans taking out recent support while making new lows for the move. The markets are nervous regarding trade relations with China, fearing an all-out trade war. Equities are mixed following sharp losses on Thursday and the dollar is weaker. Ag futures on the Dalian showed sharp gains for soybeans and meal while corn was near unchanged.

Grains initially traded mixed following China’s response to the trade war, making no mention of retaliatory efforts against US soybeans. China did respond with a list of $3 billion in U.S. goods that it would target if no agreement was reached - including pork, steel pipes, fruit and wine. From a logistical standpoint, it makes sense for China to leave US beans out of the mix knowing they can’t source 100% of their needs out of South America alone, especially considering Argentina’s current drought issue.

Buenos Aires Grains Exchange lowered its Argentina soy production estimate to 39.5 MMTs, down from 42.0. Corn production was lowered 2 MMTs to 32 MMTs.

Buenos Aires Grains Exchange reporting 80% of the Argentina soy crop is rated poor to very poor. 87% of the crop is setting pods while 15% of the crop is rated mature.

Informa Economics increased its 2018 soy planting estimate to 91.5 million acres, up from 91.197 million. Corn seeding estimate was lowered to 88.9 million, down from its previous estimate of 89.179 million acres.

Average trade estimate for today’s Cattle on Feed Report has the number of cattle on feed as of March 1st at 108.2% of a year ago. Cattle placed in February are estimated at 104.4% and marketed in February are pegged at 101.2% of a year ago.

Dow futures are trading slightly higher following yesterday’s 724 point loss on fears over a global trade war.

Summary Items:
Sharply lower markets despite less than feared response from China.
Weekly export sales were on the lower end of estimates.
Buenos Aires Grains Exchange lowering corn and soy production estimates.

Outside Markets
Quotes retrieved on March 24, 2018, 09:53:35 PM 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 March 24, 2018, 09:53:35 PM 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.