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 June 18, 2018, 01:50:23 PM CDT
June 12 USDA Report

Outside Markets
Quotes retrieved on June 18, 2018, 01:50:23 PM CDT
Board of Directors
Monday Morning Comments

9:00 am Market Direction:  Corn down 5; Beans down 1-2

Soybeans are near unchanged, taking a breather from last week’s sell-off that pushed futures to a one-year low. Corn futures are pressured on the active US Midwest forecast and trade concerns with Mexico. Last week, Mexican authorities warned of a $4 bln strike against US corn and soybeans if Trump escalates the trade spat with new tariffs. Wheat continues lower for the fourth consecutive session on fund liquidation.

The Midwest weather outlook has soaking rains this week for most of the region with the heaviest rains falling across N IA and N IL. The rains will help bring cooler temps into the region following multiple days of record-breaking heat. The U.S. Southern Plains weather forecast has average to above average precip for Kansas and the panhandles over the next 10 days with temps running above average.

The U.S. Environmental Protection Agency said on Friday it cannot make large oil refineries blend additional biofuels into their gasoline to make up for volumes waived under the small refinery hardship waiver program unless Congress authorizes it.

The Brazilian soy industry is continuing to struggle with increased trucking rates which have slowed movement to the ports. A Reuter’s article is reporting the number of ships waiting to berth at Brazilian ports to load soybeans and byproducts is almost 60% larger than a year ago. At the same time, the amount of ships that are berthed and currently loading is 42 percent smaller than seen at this time last year.

This afternoon’s Crop Progress and Conditions Report is likely to show conditions declining very slightly from last week’s 77% good to excellent corn rating and 83% soybean rating.

Friday’s COT report showed the funds were heavy net sellers of 77K corn contracts of corn and sellers of 59k contracts of beans. For the week ending June 12th, the funds were long 36,216 corn contracts, long 12,870 bean contracts and long 75,994 Chicago and KC wheat, combined.

Summary Items:
Trade tensions continuing to weigh on markets.
Weekly Crop Progress and Conditions Report to be released this afternoon.
Soaking rains slated for the Midwest this week.

2018 Crop Insurance Prices

Corn - $3.96 Spring    

Beans - $10.16 Spring    


Managed Money Activity

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 June 18, 2018, 01:50:23 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.