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 December 08, 2019, 05:29:49 PM 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 December 08, 2019, 05:29:49 PM CST
Wednesday Morning Comments

9:15 Market Direction:  Corn up 1; Beans up 5

Grains and oilseeds start Wednesday higher. Volume has been average thus far. Japan tendered overnight for feed wheat and barley. Yesterday saw GASC buy several cargoes of Russian wheat again with no U.S. offers. U.S. export business remains routine.

Brazil SB production/trade data suggests end of November SB stocks are down nearly 50% year to year at 8 MMT, a 9-year low and suggests Dec-Jan exports of 2 MMT, or less than 1/3rd of LY.

Dec corn saw its first deliveries with 129 contracts issued by ABN, with locations from Morris through Havana. SRW continued to see no deliveries with the HRW unwanted 11 still recirculating. The corn deliveries were not enough to break the Z/H which traded to a high of –9 overnight.

Eastern rail basis remains firm helping keep the IL river drawing arc smaller than usual. Processors have shown good strength through JFM.

Mainly dry weather occurs in Argentina over the next week, but some rain develops Dec. 11-17. In Brazil, rain affects a wide area next 5 days, followed by a continuation of rain central & north, & a return of thunderstorms in southern areas in 10-14 days, limiting dryness concerns.  In the U.S., dry & mild weather over the next week will be followed by a colder period with some rains & snows on unharvested corn in MI & WI, but less-so in ND (though extensive snowpack lingers going forward).

Markets doubt Trump really wants to delay trade deal; foreign markets lower, US markets higher.

Next Tuesday brings the Dec WASDE. Until then, reports are the regular weekly numbers.

Look for mixed markets today.

Summary Items:

Markets up early on average trade volume.

Markets doubt Trump wants to delay trade deal.

 

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 December 08, 2019, 05:29:49 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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