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

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Quotes retrieved on September 19, 2018, 08:37:10 AM CDT
July 12 WASDE Report

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Quotes retrieved on September 19, 2018, 08:37:10 AM CDT
Board of Directors
Wednesday Morning Comments

Morning Market Direction:  Corn unc - up 1; Beans up 1-2

North Carolina estimated on Tuesday that 3.4 million poultry birds and 5,500 hogs died in Hurricane Florence, exceeding the number killed in the state's last major hurricane two years ago.

China's August pig herds fell 2.4 percent from a year earlier, the state cabinet said; the number of pig herds dropped 0.3 percent from a month ago; sow herds dropped 4.8 percent in August from a year ago, and slipped 1.1 percent from the previous month.

At the U.S. Soybean Export Council the executive from one of China’s largest soy crusher highlighted a six part strategy to slash Chinese consumption. Mu Yan Kui highlighted reduced soymeal rations as part of a broader strategy, including seeking alternative protein sources such as rapeseed or cotton seed; tapping surplus soybean stocks, including a government reserve, and domestically grown soybeans; and continuing to boost soybean imports from Brazil and Argentina.

China's agriculture industry and government are aiming to put the nation's vast pig herd on a low-soymeal diet to reduce the country's reliance on U.S. soybean imports. China's typical feed recipe contains about 20 percent soymeal and 70 to 75 percent corn.

Reuters is reporting business and political leaders are increasing the pressure on Canadian Prime Minister Justin Trudeau to agree on a deal to renew NAFTA and drop his insistence that no deal is better than a bad deal. Foreign Minister Chrystia Freeland will hold fresh talks on the NAFTA with U.S. Trade Representative Robert Lighthizer in Washington today as a U.S.-imposed deadline of Oct. 1 looms.

The weather forecast has no major changes as a front brings soaking rains to the north over the next couple days. This weekend and into early next week looks dry until another front brings rainfall to much of the region. Temperatures will be tapering off with some frost or freeze chances to the eastern Dakota’s, western Minnesota for the early part of next week.

Summary Items:
Dead cat bounce as overnight trade held yesterday’s lows.
China’s ag industry aiming to put large portion of pig herd on low soymeal diet.
US and Canada trade representatives to meet in Washington DC today.

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 September 19, 2018, 08:37:10 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.