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 August 16, 2018, 06:50:54 AM CDT
July 12 WASDE Report

Outside Markets
Quotes retrieved on August 16, 2018, 06:50:54 AM CDT
Board of Directors
Wednesday Morning Comments

MORNING MARKET DIRECTION: Corn down 2; Beans down 6-7

The grain markets started last night’s session slightly firmer but turned negative as .25 to 1.0” rains moved across some of the driest portions of S IA. Soybeans and products were higher on the Dalian while corn futures settled mixed. The US dollar continues to push higher, making new highs for the move and trading at a 14 month high. Meanwhile, energies and precious metals are weaker; gold is at a 20 month low.

The weather forecast has no major changes for the Midwest as average to above average rainfall is expected for the region through the first half of next week, accompanied with average temperatures. The 6-10 and 8-14 day outlook maps are showing a large blob of cooler than normal temperatures for the entire Midwest. The same maps are pointing towards normal to above normal precipitation, favoring the Southeast; the N Plains will continue to trend drier than normal.

The 11 to 16 day forecast still has near average rainfall and temps for the Midwest and southern Plains; below average rains and above average temps are seen in the northern Plains.

The average trade estimate for NOPA’s soy crush has 161.75 million bushels of soybeans crushed in July versus 144.718 million in July of a year ago. If realized it would be the largest July crush on record, surpassing the 145.227 million crushed in July of 2015. Soyoil supplies among NOPA members at the end of July are estimated at 1.783 billion pounds, up 1.0 percent from stocks totaling 1.766 billion pounds at the end of June; soyoil stocks at the end of July 2017 stood at 1.558 billion pounds.

Ag consultancy Céleres has issued its first Brazilian production and acreage forecast for the 2018/19 crop year. Producers are expected to harvest 119.6 MMTs of soybeans in 2018/19 crop, an increase of nearly 1 percent from the previous year. Planted area is forecast to grow by 3.1 percent to 36.2 million hectares (89.4 million acres).

News wire reporting a growing number of Texas cattle ranchers are reducing livestock numbers due to the on-going drought.

Summary Items:
Weather forecasts continue to show rains over the Midwest through the next 5-6 days.
NOPA soybean crush report to be released today at 11:00 AM CST.
Fresh news remains limited.

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 August 16, 2018, 06:50:54 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.