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 22, 2019, 07:53:16 PM 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 22, 2019, 07:53:16 PM CDT
Monday Morning Comments

Morning Market Direction:  Corn down 5-6; Beans down 1

The grain markets are pressured by improved weather conditions as last week’s heat finally subsides. Fresh fundamental news is scarce. Rumors persist of Chinese companies looking to make purchases of US agricultural goods, although the market has become numb to these ongoing stories.

The weather pattern has improved as a northwest flow will dominate the region this week. Rainfall chances will remain below average while temps start the week below average and warming to average by the end of the week.  The 11 to 16-day outlook has average rainfall for the northern Midwest while the rest of the Corn Belt remains mostly dry.

Rhodium Group, an economic research firm, estimating Chinese foreign direct investment in the United States fell to $5.4 billion in 2018 from a peak of $46.5 billion in 2016, a drop of 88%. Preliminary figures through April of this year, which account for investments by mainland Chinese companies, suggested only a modest uptick from last year, with transactions valued at $2.8 billion.

The protein content in Brazil's 2018 soy crop harvested around January of that year slipped to an average of 36.83% from 37.14% in the previous crop.

Friday’s Cattle on Feed Report came in near expectations. The number of cattle on feed as of July 1st came in 102% versus 101.8% expected. Placements at 98% vs. 97.7% expected. Marketed 97% vs. 96.9% expected. On-feed numbers continue to be highest since NASS data began in 1996.

We estimate today’s Crop Progress report will show a 1-2% improvement in corn and soy bean ratings. Last week 58% of the corn crop and 54% of the soy crop were rated good to excellent.

The 2019 Wheat Quality Council Hard Red Spring and Durum Wheat Tour will begin checking fields on July 23 through July 25.

Summary Items:
Favorable weather forecast pressuring ag markets.
A typical weather pattern is expected for 6-10 day.

 

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 22, 2019, 07:53:16 PM 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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