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. 

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Danvers location only Cash Bids
Delivery Start Delivery End Cash Price Basis Futures Price Futures Change
Corn          
Soybeans          
Quotes are delayed, as of May 28, 2024, 12:17:14 PM 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.

Local Weather
Forecast



Ag Commentary
Soybeans Led Lower By Meal
Soybeans are coming out of the Memorial Day weekend, with midday losses of 9 to 18 ¼ cents. Soymeal is the leader to the downside, with losses of $9.70/ton in the July contract. Soy Oil is showing gains of 62 points in the upfront July contract. This morning’s Export Inspections...
Corn Heading Lower After Gapping Higher
Corn futures started off with strength out of the Monday night open, but are fading lower on Tuesday. Midday action has prices down 4 to 5 cents so far. Export Inspections data showed 1.077 MMT (42.41 mbu) of corn exports in the week that ended on May 23. That was...
Wheat Strength Fading into Midday
The wheat complex saw a sharply higher open out of the three-day weekend, but are well offhte highs at midday. Chicago contracts are trading with just 1 to 2 cent gains so far. Kansas City futures are up 5 to 7 cents across the front months. MPLS spring wheat is...
Cotton Rallying to Start Short Week
Cotton futures are coming out of the Monday holiday with contracts down 75 to 122 points at midday. Outside factors are providing some support, with crude oil up $1.08/barrel and the US dollar index down 253 points. Managed money speculators in cotton futures and options added 8,058 contracts to their...
Hogs Pulling Off Early Lows
Lean hogs are getting some help from a stronger cutout, with contracts off the midday lows and down 17 to 70 cents at midday. USDA’s National Average Base Hog negotiated price was not reported on Tuesday morning due to light volume, with the 5-day rolling average at $86.97. The CME...
Cattle Trade Led Higher by the Feeders
Live cattle are showing midday gains of 40 to 50 cents on Tuesday after Friday’s neutral (compared to estimates) Cattle on Feed report. Cash trade last week saw action at $187 in the south, with trade in the north mainly at $192, with some coming in at $193.50. Feeders are...

Daily Market news

5/21/24 Commentary:

  • What soybeans do up against the $12.50 line will be interesting.

 

  • Very impressive planting results the past week by U.S. corn growers with 21% of the crop planted and the nation-wide total reaching 70%, a point behind average; 2 more than expected and trimming the deficit by 4 points. The market’s overnight response would seem to have alleviated some of the “yield impact of later-than-normal planting” although the rain forecasts across the Corn Belt suggest it may be difficult to achieve the average week-to-week gain of 11 points between now and next Sunday.

 

  • Russia's IKAR agricultural consultancy has cut forecasts for Russia's wheat harvest and exports after unusually hot spring weather combined with bitter frosts in the heart of Russia's bread basket, it said on Tuesday. IKAR cut its Russian wheat crop forecast to 83.5 million metric tons from 86 million tons and cut the projection for Russian wheat exports to 45 million tons from 47 million tons. "This is predominantly a combination of recent frosts and dry weather across the European Russia," Dmitry Rylko, general director of IKAR, told Reuters."Another emerging factor is very difficult sowing conditions in Western Siberia (where there have been heavy rains), though it is still minor and quite contradictory: We might end-up with a very strong crop there." China is the world's biggest wheat producer but Russia is usually the top exporter.

 

  • The U.S. Department of Agriculture (USDA) lowered its U.S. winter wheat crop condition rating to 49% good to excellent in a weekly crop progress report on Monday, down 1 point from a week ago and 2 points below the average estimate gathered by Reuters from 14 analysts. The crop's condition was still the highest for this time of year since 2020, USDA data showed. Weather problems in Europe and the Black Sea region have raised concerns about global supplies, which lifted benchmark Chicago Board of Trade wheat futures Wv1 on Monday to their steepest rally in 10 months.

CORN:

  • ATI Research: 23/24 U.S. corn ending stocks est. at 1.932 billion Bu., which is unchanged compared to last week (USDA: 2.022)
  • USDA Crop Progress report
    • corn planted: 70% vs. 49% last week, 76% last year & the 71% avg.
    • corn emerged: 40% vs. 23% last week, 46% last year & the 39% avg.
    • sorghum planted: 32% vs. 26% last week, 32% last year & 30% avg.
    • Consultant: Argentina’s corn production estimate is unchanged at 47.0 million metric tons (USDA: 53.0); neutral to lower bias going forward
  • Dry weather is forecast for the next 14 days for ~80% of safrinha corn in Brazil; near normal/slightly below normal rain for 20% (mainly south)
  • The Funds bot 15 K; sharply higher wheat futures and wet outlook

SOYBEANS:

  • ATI Research: 23/24 U.S. bean ending stocks estimate is increased 10 million bu. to 0.378 billion Bu. due to lower crush (USDA: 0.340)
  • USDA Crop Progress report
    • beans planted: 52% vs. 35% last week, 61% last year & the 49% avg.
    • beans emerged: 26% vs. 16% last week, 31% last year & the 21% avg.
    • Consultant: Brazil’s soybean production estimate is unchanged at 147.0 million metric tons (USDA: 154.0); neutral bias going forward
    • focus remains on damage caused by flooding in the state of Rio Grande do Sul; it could take several weeks to sort out total crop loss
  • Funds bot 10 SB, bot 8 BO, 5 SM. July crush, +3 @ $.84/ bu

 

FINANCIALS:

Futures for the major indices are suggesting a lower start to the day.

WALL STREET FUTURES - Weaker:

Dow, -7; S&P, -1.25; NAS, -23

Asia - Weaker:

Nikkei, -0.31%; Shanghai, -0.42%;

Hang Seng, -2.12%

EUROPE - Weaker:

DAX, -0.51%; FTSE, -0.38%; CAC -0.91%

June Gold: $-18.2 @2,420

July CRUDE: $-0.91 @$78.39

Jun U.S. Dollar Index: -0.065 @104.460


The CME Group Intercontinental Exchange