HOLIDAY HOURS

The Employees of Danvers Farmers Elevator would like to wish a safe and happy Memorial Day Holiday to all.  Employees of the elevator will be observing the holiday, but will return at regular time on Tuesday.

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 May 28, 2018, 02:45:58 AM CDT
April 10 USDA Report

Outside Markets
Quotes retrieved on May 28, 2018, 02:45:58 AM CDT
Board of Directors
Friday Evening Comments

CORN

Corn futures closed 2 cents higher today. CN gained 4 cents this week and CZ gained 5 cents, though it seemed more than that due to CZ rallying close to $4.30 and prompting some producer pricing of new crop. U.S. weather forecasts show the 6-10 and 8-14 day forecasts with improved precip. while the southeast U.S. expecting too much precip. over the next 7 days. Very good crop conditions expected in next week’s report in spite of some areas in MO/IL/IN needing some rain. Brazil’s Agroconsult estimates their 2nd corn crop at 57 MMT. Industry seems to be using 79-83 MMT for Brazil production (USDA 87) and Argentine production at 31-32 MMT (USDA 33.) A firmer corn market this week tied to rising wheat futures and a general positive attitude towards better trade relations with China.

BEANS

Soybeans closed 6 cents higher today after a slow start to trade. Funds were buyers of 3,000 contracts mid-session and hold an estimated long position of 109,000 contracts. SN gained 43 cents and SX gained 45 cents this week. The rally is tied directly to the announcement last weekend that the U.S. and China would work through trade differences. China was a buyer of U.S. new crop beans this week and a sale of 312 tmt for 18/19 was announced this morning. Trade is also hopeful China replenishes reserve stocks with U.S. origins. U.S. Sec. of Commerce Ross in China this weekend for further discussions on trade. Brazil truck strike reportedly over but further reports suggest there are still issues to work out. Brazil’s bean production estimated at 117-119 MMT (USDA 117) and Argentine production at 36-37 MMT (USDA 39.)

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 May 28, 2018, 02:45:58 AM 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.