Holiday Hours

Danvers Farmers Elevator will be closed on Monday, January 18, 2019 for Martin Luther King, Jr Day. 

Grain Markets on the Chicago Board of Trade are closed this day.

United Prairie employees will be working regular hours.

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 January 21, 2019, 08:23:43 AM CST
November WASDE Report

Outside Markets
Quotes retrieved on January 21, 2019, 08:23:43 AM CST
Friday Evening Comments

CORN

Corn ended the week with modest gains. CH was 1 ¾ cents higher, CK rose 2 cents, and CZ added ½ cent. There wasn’t much in the way of fresh news regarding corn today with the market benefitting from spillover support from higher soybean, energy, and equity markets. Commodity funds were buyers of corn today although amounts were small with purchases as of midday estimated at 2000 contracts. A news story today reported that China has offered to buy more than $1 trillion in goods from the U.S. over the next six years in a new trade deal. This would eliminate the trade surplus China has with the U.S.  The offer is evidence that the two countries have not come to an agreement on the contentious issue of intellectual property and that a lot of work remains to be done to come to a new trade deal. China’s exports fell in December to the lowest level in more than two years. The Buenos Aires Grain Exchange reported that 90% of Argentine’s corn crop has been planted with wet weather delaying the completion of seeding. The Brazilian summer corn harvest is just getting started as is the seeding of the safrinha crop. The dryness across much of Brazil during December and January has likely cut the first crop production and threatens to slow planting of the safrinha crop.

BEANS

Soybeans were higher today as SH and SK each rose 9 cents and SX was 7 ½ cents better. Commodity funds were buyers of an estimated 6000 soybean contracts as of midsession.  Like corn, there wasn’t a lot of fresh news involving soybeans here at week’s end with higher energy and equity markets offering support. Latest weather forecasts show a continuation of drier than normal conditions across much of central and northern Brazil the next two weeks before a pattern change brings better rainfall chances beyond February 5th. Should this forecast verify, the Brazilian crop size will decrease further, possibly to near 110 MMT’s (the USDA December estimate was 122 MMT’s). The Buenos Aires Grain Exchange estimated that 96% of the Argentine soybean crop has been planted with 90% of the crop in good condition, but it also said that 18% of the crop is currently experiencing excess moisture.

2018 Crop Insurance Prices

Corn - $3.96 Spring    

Beans - $10.16 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 January 21, 2019, 08:23:43 AM 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.