Covid-19 Pandemic - DFE Update (3/30)

We continue to ask patrons to politely call the elevator to conduct necessary business.  It is reasonable to believe that this will remain the case through at least the end of April, based upon President Trump's press conference yesterday afternoon..

No persons outside of Jeff Grampp, Darren Roelfs or Joe Daniels are allowed in the office at this time, in order to maintain balance with continued operations as an essential business, but also to comply with social distancing measures.

David Fluty, Mike Oehler and Greg Lemons are on-site this week as we begin to deliver contracted grain to the  respective buyers.  If you have a need to deliver grain to the elevator, please call ahead so that we can plan accordingly.  We ask that anyone delivering grain remain in the cab of his/her delivery vehicle.

Please direct all communication to Joe Daniels at:  (309) 310-3319 (cell-text); joe@dfegrain.com.

Thank you for your cooperation and understanding in these unprecedented times.  Be well!

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 April 08, 2020, 12:30:19 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 31 USDA Report

Outside Markets
Quotes retrieved on April 08, 2020, 12:30:19 AM CDT
Monday Morning Comments

8:15 AM Market Direction:  Corn down 2; Beans down 4

Grains and oilseeds start the week mixed with fall crops lower and wheat firmer. Volume was average.

Equity futures are firmer helping the global financial picture.

Egypt’s GASC is reportedly looking to change buying to a C&F basis after cancelling last week’s tender that was still FOB but stated shippers would be responsible if the shipping port was closed due to COVID 19 issues. Black sea dryness is a growing concern helping drive the wheat market higher. Weekend tender activity was quiet with Syria buying 50 kmt meal and corn. Jordan is still considering wheat offers in its tender.

Central belt field world picked up quickly late last week and should continue into this week as rains were limited. Temps are cooler than ideal, but producers are likely to push forward with the memories of 2019 planting still fresh.

T-storm Weather®: in the central U.S., temps soar across a wide area through Tue.-Wed. as a large system approaches & sends highs to the 60s-70s-80s, but then crash from northwest to southeast over Tue.-Thu. as it passes. Some showers & thunderstorms focus on the Corn Belt & Delta as the large system approaches & passes over Mon.-Wed., but only small pockets of significant rainfall are expected (especially in / near central and northern areas of IL, IN, & OH tonight where 0.25” to 0.50” falls)

Look for choppiness to continue this week with basis fighting tight producer movement vs. demand destruction.

Summary Items:

Central Belt field work picking up despite cooler temps.

Markets mixed; unsure of Covid-19 new cases.

Warmer weather coming; isolated rainfall possible.

 

2020 Crop Insurance Prices

Corn - $3.88 Spring    

Beans - $9.17 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 April 08, 2020, 12:30:19 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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