BIDS ARE SUBJECT TO CHANGE AT ANY TIME. REMINDER PRICES ARE NOW DELIVERED COAST RED WHEAT MARKETS ARE MORNING ONLY Buying Hours: Monday - Thursday 8:30am - 11:00am and 2:30pm - 4:30pm Friday 8:30am - 11:00am and no afternoon market
Club Wheat Premium: +.00 max 12.0% protein
Old Crop 2018 SWH vs. SRW Futures Basis = $1.08/bu. SRW July 2018 futures New Crop 2018 SWH vs. SRW Futures Basis = $.75/bu. SRW Sept 2018 futures
New Crop SWH bids are for Max 10.5% Protein Market Scales Time of Delivery
14% DNS Scales: +.06/-.10 ea. 1/4 from 14%, 16% max
11.5% HRW Scales: +.10/-.20 ea. 1/2% from 11.5%, 13% max
2018 Winter Wheat RP Base Price = $5.92/bu. Portland 2018 Spring Wheat RP Base Price = $6.30/bu. MGE Barge Fuel Surcharge: April -3.2% = -$.01/bu. (negative means you get a credit back)
Country Elevator (truck/rail) Fuel Surcharge: April 17% = $.02/bu.
4/20/18 - After the rain moves thru the Midwest this weekend there appears to be a warm and dry window that will allow growers to get in the field to plant spring crops and that is weighing on the markets this morning. Export sales were crummy this week and even if the U.S. were to grow a small HRW crop we are already priced out of the world market. Having a U.S. corn production problem is our best bet for the market to take the next leg higher.
The Weekly Top Five
These are the 5 biggest issues that NWGG feel are affecting today's markets and items to watch for as we progress through the year. 1: 4/11/18 USDA's most recent supply and demand report still shows burdensome U.S. and global wheat stocks. Markets will have a hard time taking the next step higher until there is a legitmate production issue with either wheat or corn in the world. 2: 4/11/18 The USDA released planting intentions for corn, soybeans, and spring wheat on March 29th. Corn and soybean acres came in below expectations and spring wheat was above expectations as a result. At this point according to these intentions corn prices have the most bullish outlook as global corn supplies are down as a result of drought in Argentina. 3: 4/11/18 National crop condition ratings and planting progress started weekly reporting and the HRW crop are in the worst condition for this time of year since 2002 mostly due to the Southern Plains’ HRW crop suffering through drought. There is little to no subsoil moisture, so timely rains will be needed to nurse this crop through the Spring. 4: 4/11/18 Global crop conditions look mostly favorable at this point, especially in the Northern Hemisphere with Black Sea wheat crops in good shape although Russia is having a late start to their spring seeding season due to wet weather. Russian winter wheat is rate over 80% good to excellent. Can they grow another record crop? 5: 4/11/2018 The macro picture still looks favorable for commodities. U.S. dollar still trading at three year lows, energies at three year highs and metals also close to three year highs. Commodities are usually in favor from money managers when inflation is a concern.