Been Thinking...

“The ideas of economists and political philosophers, both when they are right and when they are wrong are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually slaves of some defunct economist.” 

John Maynard Keynes

DFE Cash Bids
Notes Delivery Start Delivery End Cash Price Price Change Basis

Quotes retrieved on October 19, 2018, 09:06:13 PM CDT
Septmber USDA Stocks Report

Outside Markets
Quotes retrieved on October 19, 2018, 09:06:13 PM CDT
Board of Directors
Friday Morning Comments

Morning Market Direction:  Corn down 1; Beans up 1

China's economy grew at its slowest pace in nine years in the third quarter, as a campaign to tackle mounting debt and trade frictions with the US had an effect. The world's second largest economy expanded by 6.5 percent in the July-to-September period year-on-year. The rate is down from 6.8 percent and 6.7 percent in the first and second quarters.

The average trade estimate for Friday’s Cattle on Feed report has the number of cattle on feed as of October 1st at 106.45 of a year ago. Placements in September are pegged at 100.1%. Marketings in September are estimated at 97.0% of a year ago.

Weather models continue to show widespread rains will continue to blanket Brazil’s growing regions over the next two weeks.

Welcomed rains are forecasted to fall over the dry areas of western Argentina during the next 3 days. The extended forecast also shows a wetter pattern for the dry areas of the country.

A band of light rains are working across the central Midwest today. The weekend and most of next week remains dry which should allow for harvest progress to advance rapidly.

The US Farm Bill officially expired on September 30th and it’s likely the 2014 bill will be extended for an additional year. At issue is a provision in the new draft of the bill that would impose stricter work requirements for recipients of food stamps. The House of Representatives passed the $867 billion bill in June with the tougher requirements under the food program but the Senate version excluded it.

China has culled 200,000 pigs following 41 African swine fever outbreaks in the country, a Chinese animal health official said; that marks the latest estimate on the number of animals culled in China in the wake of the disease.

Argentina's transportation union announced late on Wednesday night that it would go on strike next week to call for an increase in freight rates, in a move that could disrupt the nation's grain shipment.

Summary Items:
China’s third quarter growth rate at its slowest pace in 9 years.
Soaking rains are projected to fall over much of Brazil’s growing regions.
Cattle on Feed report will be released this afternoon.

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 October 19, 2018, 09:06:13 PM CDT
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