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 April 21, 2018, 02:16:46 PM CDT
April 10 USDA Report

Advance Trading Weekly Market Update

Friday Morning Comments

Morning Market Direction:  Corn down 2; Beans down 6

Grains are under moderate pressure as we finish another week of trading. Uncertainties regarding trade relations and improved weather conditions for next week are both weighing on values. Crude oil is lower after making new highs on Thursday, the dollar is a touch higher and the Dow is down roughly 30 points. For the week, corn is down 6 cents; soybeans are down 23 cents; soymeal lost $10; winter wheat is down 9 cents, and; SRW is down roughly 8 cents.

Crude oil is pressured this morning amidst a tweet from President Trump suggesting oil prices are too high and won’t be tolerated. The tweet was targeted towards OPEC, suggesting prices are too high considering excess world supplies.

The Argentina Ag Ministry estimated the Argie soy crop at 37.6 MMTs versus the USDA’s latest estimate of 40 MMTs. The Ministry pegs corn production at 42 MMTs versus the USDA estimate of 33 MMTs.

The average trade estimate for this afternoon’s Cattle on Feed Report has the number of cattle on feed as of April 1st at 107.4%. Placements in March are pegged at 89.8% of a year ago. Marketed in March is estimated at 96.0% of last year.

China Ag Ministry estimates 2018 soybean production at 15.18 MMTs, up 1.9% on the year. Corn production is pegged at 218 MMTs, up 1.0% from last year.

Several cargo ships carrying US grain sorghum destined to China have changed course following Beijing’s hefty anti-dumping duties on U.S. imports of the grain. According to USDA’s Federal Grain Inspection Service, 20 ships are on the water carrying over 1.2 million tons of U.S. sorghum. At least five changed course within hours of China's announcing tariffs on U.S. sorghum imports on Tuesday.

It appears China is unwilling to accept adverse trade rulings from the WTO. China's Ministry of Commerce said Friday that it will continue with its antidumping measures on imports of pulp from the U.S., Canada and Brazil. The duties will continue despite a ruling by the WTO that said Beijing failed to show that imported pulp hurt the domestic industry.

Summary Items:
Markets under pressure from improving weather forecasts.
May options expire today.
Cattle on Feed Report to be released this afternoon.

Outside Markets
Quotes retrieved on April 21, 2018, 02:16:46 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 April 21, 2018, 02:16:46 PM CDT
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