News and Updates - Holiday Hours

"The things that the flag stands for were created by the experiences of a great people.  Everything that it stands for was written by their lives.  The flag is the embodiment, not of sentiment, but of history." 

                                                                                                                                              Woodrow Wilson

In honor of those who have selflessly given and courageously served our country, we thank you.  

 

The offices of DFE will be closed on Monday, May 30, 2022 in observation of Memorial Day.  Have a safe and happy holiday weekend. 

While volatility persists in all market sectors, there will be times that DFE will be taking protection in our bids and/or going no-bid for the protection of our owners. 

We ask that customers please call to make grain transactions during active trading hours on the Chicago Board of Trade when DFE is open for business, Monday through Friday from 7:00 am to 1:20 pm. 

Outside of the times listed above, we're happy to work firm offers for grain marketing needs. 

Please work with DFE staff for all of your grain marketing needs.  We appreciate your loyalty!

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 are delayed, as of May 28, 2022, 11:30:43 AM CDT or prior.
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
March 9 WASDE Report

Outside Markets
Quotes are delayed, as of May 28, 2022, 11:30:43 AM CDT or prior.
Thursday 9:50 AM Commentary

Market Direction:  Corn up 5(oc) & down 2(nc); Soy up 26 & 12.

Export Sales to be released at 7:30 am CDT.  Trade expects 6-18 mbu for old crop corn; 20-35 for new crop.  The expectation for old crop beans is 6-18 mbu, 2-22 for new crop; 100-350k MT for old meal and 0-50 for new crop; 0-20k MT for old crop soybean oil.

Ethanol grind:  991k barrels/day for week ended May 13, which was unchanged from the week prior.  This is down 4% vs 2021 and 7.5% versus 2019 in a pre-covid comparison.  Stocks were listed at 23.791 mb, well above the trade estimate as the draw down wasn’t as significant as estimated.

Brazil’s soybean harvest is over 95% complete, but progress in the far southern state of Rio Grande do Sul is only at 83% complete due to localized flooding and excessive moisture in low lying areas.

CONAB’s May Safrinha estimate was 89.3 MMT.  Yesterday, Agroconsult took 4.6 MMT off the forecast and is now lower, at 87.6 MMT.  Yield results as harvest gets underway will be closely monitored.  On the other hand, FOB Brazil corn values have shed about $.25/bu over the last 30 days.

Rumors are swirling that Indonesia may soon lift its export ban on palm oil.

Local weather:  We will have isolated/scattered showers in the Eastern Corn Belt through Saturday with above normal temperatures.  Accumulation projected by one meteorologist to be in the 1 inch + camp for Friday/Saturday combined, with rain thunderstorms beginning Friday evening.  Mostly dry, yet cloudy, anticipation for Sunday.

S AM weather:  Below to well below normal temps forecast through Friday on corn in Southern Brazil.  Concern is that frost may damage immature corn in some areas; Thursday is expected to be the coldest day.

Are we seeing a race to the exit for financials?  Inflation is at 4-year high and retail sales are slowing.  Are we ready to officially call this a recession?  Futures are sharply lower on Wall Street early this morning and globally we are mostly weaker. 

Ideal weather again today after brief showers yesterday. 

Beans on the rise again today.

USDA Export sales released this morning.

2022 Crop Insurance Prices

Corn - $5.90 Spring    

Beans - $14.33 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 are delayed, as of May 28, 2022, 11:30:43 AM CDT or prior.
Information gathered for this website is thought to be from reliable sources, but cannot be guaranteed as to its accuracy or completeness by DFE.


The CME Group Intercontinental Exchange