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
Corn
Soybeans

Quotes retrieved on November 14, 2019, 09:45:46 PM CST
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
Nov 8 WASDE

Outside Markets
Quotes retrieved on November 14, 2019, 09:45:46 PM CST
Wednesday Morning Comments

10:30 Market Direction:  Corn down 2;  Beans down 3

Grains and oilseeds start Wednesday mostly weaker on average volume.

Corn harvest continues to be behind average with yesterday’s numbers showing 66% complete, up 14 points on the week. Soybean harvest at 85% complete is nearly in line with averages.

Quiet weather affects U.S feedlots the next 7 to 10 days (or longer) as areas of high pressure leave a wide area dry.

South American weather is unchanged with t-storms over the next five days to be followed by wetter weather in central and northern Brazil, drying in southern Brazil, and scattered t-storms in 7 to 10 days in Argentina.

Brazilian corn exporters are enjoying a banner year thanks to a big crop and improved logistics, burnishing the country's status as a top global corn supplier and threatening the US' traditional dominance in the arena.  Some of that is due to this year's circumstances, but some of the gains could be more permanent. Through October, Brazil had exported 34.7 million tonnes of corn in 2019, a staggering 60% more than the prior record for the period. By comparison, the US exported about 36.2 million tonnes of the yellow grain during the same period, down 40% from a year earlier.  The US government projects that domestic corn exports will fall to a seven-year low, though some analysts fear that estimate may still be too optimistic. Brazil exports close to four times as much corn as it did a decade ago, with sales really taking off after a string of poor U.S. crops from 2010 to 2012.  Not all the two countries’ corn customers overlap, but many do, and the recent trends highlight the risks of the expanding South American supply to U.S. exports.

ADM does not expect to continue its aggressive strategy of acquisitions in the next few years and will instead focus on organic growth, a senior official said on Wednesday. "With this level of acquisitions we have had, I don't think you will see ADM being a very aggressive M&A investor over the next few years," Ismael Roig, Europe, Middle East and Africa President Archer Daniels Midland Co told the Global Grain conference in Geneva. He said the company would instead focus on optimizing its business, driving efficiency and look for opportunities in value-added sectors including nutrition.

Summary Items:

Grains slightly weaker.

Cold and wet weather prevails.

Brazilian 2019 Corn Exports Staggering.

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 November 14, 2019, 09:45:46 PM CST
Information gathered for this website is thought to be from reliable sources, but cannot be guaranteed as to its accuracy or completeness by DFE.


The CME Group Intercontinental Exchange