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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
Quotes retrieved on August 23, 2019, 08:59:37 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. Aug 12 WASDE
Outside Markets
Quotes retrieved on August 23, 2019, 08:59:37 AM CDT
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Friday Morning Comments
Morning Market Direction: Corn and Beans down 5-6 The grain markets are mixed under pressure after China announced additional tariffs on grains this morning. Traders are digesting more yield results from the Pro Farmer crop tour and await the final report that will be released later this morning. The US dollar index is higher today and testing the recent highs, crude oil is a touch weaker and equities are attempting to bounce. The weather maps are pushing the heavy rains southward for next week. The heavy rainfall is now being forecasted for eastern OK and along the MO/AR border into the Delta where 3 to 5” rains are expected over the next 10 days. The GFS model is now calling for just .25 to 1” of rainfall across the Midwest through the end of the month. NOAA’s 6 to 10-day as well as the 8 to 14-day maps have a bullseye of below normal temperatures painted over the entire US Midwest. Precipitation maps are slightly wetter than normal although the southern Midwest is slightly drier in the 8 to 14-day timeframe. The average trade estimate for this afternoon’s Cattle on Feed Report has the number of cattle on feed as of August 1st at 100.8% of a year ago. Placements in July are pegged at 100.1% and marketing’s in July are estimated at 106.4%. Pro Farmer Crop Tour estimating Iowa corn yield at 182.83 bpa versus 188.2 last year the three-year average of 185.39. The average soybean pod count in a 3 by 3-foot area is 1,106.91 versus 1,208.99 last year and the three-year average of 1,175.4 Pro Farmer Crop Tour estimating Minnesota corn yield at 170.37 bpa versus 178.67 last year the three-year average of 184.18. The average soybean pod count in a 3 by 3-foot area is 965.31 versus 1,090.47 last year and the three-year average of 1,072.68. China has announced retaliatory tariffs on 5,078 U.S. goods. The new tariffs rates will take effect on Sept 1st and Dec 15th. US equity markets have sold off on the recent news. Summary Items: 2019 Crop Insurance Prices
Corn - $4.00 Spring Beans - $9.54 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 August 23, 2019, 08:59:37 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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