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 March 21, 2019, 08:43:16 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.
March WASDE Report

Outside Markets
Quotes retrieved on March 21, 2019, 08:43:16 AM CDT
Thursday Morning Comments

Morning Market Direction:  Corn and Beans unc to up 1

Corn and soybean futures are trending a touch higher this morning while wheat gives back a portion of yesterday’s gain. Severe flooding across portions of NE, IA and MO remains on the forefront and may be encouraging some buying interest ahead of the 2019 planting season. Equities are lower for the second consecutive day as disappointment looms regarding the pace of trade negotiations with China.

The China Finance Ministry issued a statement that the value added tax rate for agriculture purchases will be cut to 9% from 10%. The VAT rate for agriculture product purchases for processing will be reduced to 10% from 13%. The cuts will take effect on April 1st, 2019.

President Trump says if the U.S. gets a trade deal with China, tariffs could stay in place for some time to ensure Beijing "lives by the deal," adding that China has had "problems living by certain deals."

Trump said Wednesday the White House was discussing keeping tariffs for a "substantial period of time," adding that China has had "problems living by certain deals."

News wire reporting the EPA is likely to issue partial waivers to some e of the 39 small refineries who have applied for relief. The agency typically either approves or denies a waiver request in full and has only granted one partial exemption since the start of the RFS program more than a decade ago. The EPA is set to decide on its pending 2018 exemption applications by the end of March.

Rabobank analyst sees China’s pork imports doubling in 2019 due to African Swine Fever.

Summary Items:
Weekly export sales for soybeans were disappointing.
NOAA will update its 30 and 90 day forecast this morning.
China to lower VAT rate for ag and ag products in April.

 

2018 Crop Insurance Prices

Corn - $3.96 Spring    

Beans - $10.16 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 March 21, 2019, 08:43:16 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.