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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
Quotes retrieved on December 18, 2018, 11:32:50 PM CST
November WASDE Report
Outside Markets
Quotes retrieved on December 18, 2018, 11:32:50 PM CST
Board of Directors
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Tuesday Morning Comments
8:00 AM (halted) Markets: Corn unc; Beans up 3 (deja vu?) The markets are mixed with soybeans finding support while corn is holding near unchanged and wheat futures are a few cents weaker. Meal futures on the Dalian closed higher for the first time in 3 days as President Xi Jingping said China would stick to its policy agenda in a keynote speech, potentially dampening the hopes of reform to the trade conflict with the US. Asian stocks were lower as President XI offered no fresh news to stimulate China’s economy. Malaysian palm oil prices overnight rallied +1.51%, supported by forecasts of declining production, but gains were capped by weaker crude oil prices. President Trump has authorized Ag Secretary Sonny Purdue to implement the 2nd round of Market Facilitation Payments. NOAA’s 6-10 day forecast is extremely wet for the Midwest, Plains and Delta while keeping the region 10-15 degrees warmer than normal. The 8-14 day outlook remains especially wet while cooler than normal temps return to the central Plains and mountain west regions. NOPA Crush showed November crush was 166.959 million bushels of soybeans, down from the record 172.346 million bushels processed in October but above the 163.546 million bushels crushed in November 2017. It was the largest November crush on record. Soybean oil stocks fell for the seventh straight month to 1.484 billion pounds as of Nov. 30, down from 1.503 billion at the end of October but above the 1.326 billion last year. The two day FOMC meeting begins today and will conclude on Wednesday with Fed Chair Jerome Powell l holding a press conference at 2:30 p.m. ET. Consensus among economists remains that the Fed will raise interest rates; however, the real focus of this meeting will be on the Fed’s language about the central bank’s plan for the future. The government shutdown deadline is Friday, December 21st if lawmakers and the White House cannot reach an agreement on spending bills, the federal government will shutdown which will close the USDA. Summary Items: 2018 Crop Insurance Prices
Corn - $3.96 Spring Beans - $10.16 Spring
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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 December 18, 2018, 11:32:50 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.
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