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 July 19, 2019, 01:24:30 AM CDT
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
July 11 WASDE

Outside Markets
Quotes retrieved on July 19, 2019, 01:24:30 AM CDT
Thursday Morning Comments

Morning Market Direction:  Corn down 7-8; Beans down 4

The weaker trend has resumed as risk premium continues to come off the table; December wheat futures dropped to a 6-week low during the overnight trade. A few days of extreme heat is expected to give way to much cooler temperatures by early next week.

The weather models are still in agreement that a cold front will push through the region by early next week, bringing rain chances to much of the Midwest while dropping temperatures below normal. The 11 to 16-day outlook still shows a northwesterly flow that will keep precipitation chances below average, with normal temperatures.

News wire story reports progress toward a U.S.-China trade deal has stalled while the Trump administration determines how to address Beijing's demands that it eases restrictions on Huawei Technologies Co. No face-to-face meetings have taken place, and none has been scheduled since President Trump and President Xi met last month in Japan and agreed to resume talks.

Asked this week by reporters if he was optimistic about a deal this year with China, Iowa Senator Chuck Grassley replied: “Just exactly the opposite.” Treasury Secretary Mnuchin and Ambassador Lighthizer are scheduled to have a call with China counterparts today.

According to sources associated with the USDA's Risk Management Agency, prevent plant acres through early July are higher than what has been indicated. It is reported that prevent plant acres had totaled between 7 and 8 million for corn and from 2 to 3 million on soybeans. Total prevent plant acres are estimated at 12.5 million acres.

Summary Items:
Cooler and wetter forecast for next week pressuring markets.
Weekly export sales have been delayed temporarily.

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 July 19, 2019, 01:24:30 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.


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