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 January 27, 2020, 12:15:12 AM 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 January 27, 2020, 12:15:12 AM CST
Friday Morning Comments

Morning Market Direction:  Corn and Beans down 3-4

Grains and oilseeds all start Friday on the weaker side of trade. Volume has been light across the board.

This morning will see the release of weekly export sales data.

Overnight tender activity was quiet on the global front. Corn basis and spreads remain firm domestically though yesterday’s board rally did increase flat price movement and perhaps will satisfy some nearby end user basis needs. Quality continues to be an issue with many shippers.

YTD corn exports are just 18% of the USDA’s Jan forecast; that’s a 32-year low. However, the two prior lows at 20% in 15/16 and 17/18 saw the final total come in 199 and 513 mbu HIGHER. Brazil’s safrinha crop development is paramount. Planting of safrinha (double crop) corn in the state of Parana will be delayed due to the delayed soy-bean harvest. Soybean planting in Parana was 2-3 weeks later than normal; thus, harvest will start 2-3 weeks later.

Heavy rains affect central & northern Brazil the next two weeks, initially as a cool front drapes across the region & triggers thunderstorms each day over the next week, then as another front passes in 10-14 days.  Southern Brazil will be dry & cool until thunderstorms produce 1.00”-3.00” in a week. Argentina will be dry & cool into at least Tue., followed by some rain, but most focuses north & less-so in key southern areas where dryness slowly unfolds, though a wide area is currently moist.

Look for a choppy day with cash and basis more dynamic than outright futures changes. Have a nice weekend!

Summary Items:

Markets are lower on light volume.

World Health Organization says no global emergency yet.

 

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 January 27, 2020, 12:15:12 AM 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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