Extended Walla Walla Seed Plant Hours Monday - Friday - 6am to 7pm Saturday - 7am to 4pm Sunday - 7am to 4pm Seed plant phone number: (509) 529-3004 The 2017 Fall Seed Newletter and Price list has been added to the newsletter section of our website.
10/17/17 Quiet markets again this morning with a lack of fresh news and farmer selling keeping futures stagnate and cash price in a tight range. Bears are talking about big stocks globally and in the US. Bulls are talking about South American weather potentially effecting prices in the row crops. SWW demand remains steady as we await the Australian harvest. Winter wheat planting continues with 60% now in the ground nationally compared to 70% at this time last year and a 71% 5 yr average.
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: 10/13/17 The lastest USDA supply and demand report was bearish for wheat showing both U.S. and world ending stock projections larger than anticipated. The world wheat number was particularly bearish adding 5 million metric tons to projected ending stocks this year. 2: 10/13/17 The white wheat balance sheet did improve on this month's report with 7 million bushels trimmed from projected ending stocks whith exports increased 5 mb and production decreased 2 mb. 3: 10/13/17 Australian wheat production was cut again this month by 1 million metric tons to 21.5 mmt. Private estimates are increasing the chances of the crop coming in below 20 mmt but late rains may help prevent that. 4: 10/13/17 Winter wheat seeding in the U.S. is behind the average pace in the Plains due to wet weather but also probably indicates that planted acres will be lower again overall this year. Final winter wheat planted acreage is released in January along with the other quarterly reports. 5: 10/13/17 White wheat basis levels remain elevated for this time of year mostly due to high Australian prices due to anticipated small production. Additionally farmer selling has been very light for the past couple of weeks and export business to this point in the year has been very good.