Been Thinking...

"Agriculture is our wisest pursuit, because it will in the end contribute most to real wealth, good morals, and happiness."

Thomas Jefferson

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

Quotes retrieved on October 16, 2019, 10:00:53 PM CDT
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
Oct 10 WASDE

Outside Markets
Quotes retrieved on October 16, 2019, 10:00:53 PM CDT
Wednesday Morning Comments

Morning Market Direction:  Corn down 2-3; Beans up 1

The grain markets are starting the day on the weak side. Volume has been steady vs. recent days. Yesterday's crop progress numbers showed corn harvested at just 22%.  Corn maturity was at 73% vs denting at 96% which has analysts scratching their heads to quantify potential damage from the winter storm last weekend.

Yesterday's EPA announcement regarding RFS and reallocations of the Small Refiner Exemptions (SRE) has caused angst in the Ethanol/Ag industry due to projections of partial SRE's being used in the reallocation calculations.  Look for a mixed day today with headlines and and further analysis of this announcement.

4 of the 5 "analog" years to this fall's anemic corn export program start have seen the USDA cut its October forecast between now and final.  The average decline for all five is 148 mbu; or 222 mbu for the 4 years with downward revisions.

Brexit and the US/China trade deal have the markets a little uneasy.

Mostly dry weather for the US Corn Belt today through Thursday.  Showers, favoring southern and eastern areas Friday.  Temps below normal today, near to normal Thursday and Friday.

Summary Items:
Crop Progress report puzzling on dented numbers.
EPA announcement needs further analysis.
Markets looking for direction.

2019 Crop Insurance Prices

Corn - $4.00 Spring    

Beans - $9.54 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 16, 2019, 10:00:53 PM 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.

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