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 17, 2018, 07:10:02 PM CDT
March USDA Report

Advance Trading Weekly Market Update

Friday Morning Comments

MORNING MARKET DIRECTION:  Corn down 1; Beans up 4-5

The markets are mixed with beans finding moderate support and trading above the highs from Thursday. Meanwhile, corn and wheat futures are under mild pressure, currently trading near the overnight lows. For the week, corn futures are down roughly 4 cents; soybeans are 8 higher; soy meal is up $3; soy oil is down 20 points, and; Chicago wheat futures are down roughly 2 cents.

The weather outlook for South America has another round of showers and thunderstorms for Argentina Saturday into Monday; precipitation from this event will occur in most of Argentina’s crop areas. However, the most significant and meaningful moisture is expected in central and northeastern Buenos Aires, Entre Rios, southern Santa Fe, and southeastern Cordoba. Meanwhile, frequent showers and thunderstorms are expected in most crop areas of Brazil through Wednesday.

The GFS model decreased rain chances for the central portions of the southern Plains during the Mar 25-27 timeframe but increased the rain chances for Mar 28-30.

NOPA crush data from Thursday showed 153.1 mb of beans crushed by the group in Feb, up from 142.8 mb a year ago and compares to trade estimates of 149.4 mb.

Also on Thursday, the Rosario Grains Exchange slashed Argentina’s bean production by 14%, suggesting the drought has lowered bean production to just 40 mmt; corn production was reduced from 35 mmt to 32 mmt.

The COT report will be updated this afternoon. We estimate Managed Money net short 50,000 contracts of SRW Wheat; net long 178,000 Corn; net long 163,000 contracts of Soybeans; net long 98,000 lots of Soymeal, and; net short 8,000 lots of Soyoil.

A news wire is reporting today that US corn merchants have sold more than 650 mln bu of corn since early January, more than what is usual for any time of the year. Weekly export sales reported yesterday at nearly 99 mln bu, the largest weekly sales in nearly 10 years! Also, net corn sales over the previous 9 weeks are the largest-ever for a nine-week period since records began in 1990.

US Gulf corn remains the cheapest world source as basis levels in Argentina continue to rise on limited farmer selling. Egypt has aggressively been seeking Russian wheat, adding $2/mt to spot values this week.

Summary Items:
The markets are mixed as we head into the weekend.
Rain chances remain for Arg as well as US southern Plains.
Weekly COT report exp to show funds decreasing soybean length.

Outside Markets
Quotes retrieved on March 17, 2018, 07:10:02 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 17, 2018, 07:10:02 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.