850 N 4TH AVE. * WALLA WALLA, WA  99362
TELEPHONE (509) 525-6510
FAX (509) 529-6050

Office Hours: 7:30am to 12:00pm and 1:00pm to 4:30pm

 

Phone: 800-994-4290 Sunday, February 7, 2016
 
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Local Cash Bids
 
  February March April
Delivered Coast SOFT WHITE WHEAT Cash Price
  Chart Chart Chart
BARLEY Cash Price    
  Chart
14% DNS Cash Price
  Chart Chart Chart
11.5% HRW Cash Price
  Chart Chart Chart
Price as of 02/07/16 11:04AM CST.
Month Symbols
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Bid Notes

Prices Updated Friday 8:30 A.M.
BIDS ARE SUBJECT TO CHANGE AT ANY TIME.

REMINDER PRICES ARE NOW DELIVERED COAST 


2015 SWW LOW PROTEIN PREMIUMS (DLVD JULY-AUGUST 2015)
10.5-10.1%   +0.65
10.0-9.6%     +0.95
9.5-9.1%       +1.35
9.0-8.6%       +1.65
8.5-8.1%       +1.95
8.0 and less  +2.25


Club Premium: Under 12% protein +1.00 , 12% and over +0.25


Soft White vs. SRW Futures Basis = $.55/bu.

2016 New Crop SWH: $5.60 @ 10.5% max protein, higher proteins subject to market discount at time of delivery

2016 New Crop SWH 10.5% Protein vs. SRW Futures Basis = $.85/bu. Chicago July 2016 futures

2016 Winter Wheat RP Current Base Price = $5.63/bu. Portland

14% DNS Scales:  +.04/-.08 ea. 1/4 from 14%, 16% max, 12% min

11.5% HRW Scales:  +.03/-.06 ea. 1/2% from 11.5%, 13% max, 9.5% min

Barge Fuel Surcharge:
January -8.3% = -$.027/bu. (negative means you get a credit back)
February -9.4% = $.031/bu. (negative means you get a credit back)

Country Elevator (truck/rail) Fuel Surcharge:
January 13% = $.016/bu.
February 10% = $.012/bu.


Futures
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Mar 16 473'6 474'0 465'4 466'4 -6'0 466'6s 02/05 Chart for @W6H Options for @W6H
May 16 476'4 477'6 470'0 470'4 -6'2 470'4s 02/05 Chart for @W6K Options for @W6K
Jul 16 481'2 482'4 475'2 475'4 -6'0 475'6s 02/05 Chart for @W6N Options for @W6N
Sep 16 491'0 491'4 484'0 484'0 -5'4 484'2s 02/05 Chart for @W6U Options for @W6U
Dec 16 504'2 504'2 498'0 498'0 -5'2 498'2s 02/05 Chart for @W6Z Options for @W6Z
@KW - HARD RED WINTER WHEAT - KCBT
Month Open High Low Last Change Close Time More
Mar 16 461'2 461'2 451'4 453'6 -5'6 454'0s 02/05 Chart for @KW6H Options for @KW6H
May 16 470'4 470'4 461'4 464'0 -6'2 463'4s 02/05 Chart for @KW6K Options for @KW6K
Jul 16 480'6 480'6 471'4 472'6 -6'6 473'0s 02/05 Chart for @KW6N Options for @KW6N
Sep 16 494'4 494'4 485'4 486'6 -6'6 486'6s 02/05 Chart for @KW6U Options for @KW6U
@MW - HARD RED SPRING WHEAT - MGE
Month Open High Low Last Change Close Time More
Mar 16 495'0 496'2 490'4 490'4 -3'2 491'2s 02/05 Chart for @MW6H Options for @MW6H
May 16 502'0 502'2 496'2 496'2 -3'4 496'6s 02/05 Chart for @MW6K Options for @MW6K
Jul 16 507'2 508'0 503'6 504'0 -3'2 504'0s 02/05 Chart for @MW6N Options for @MW6N
Sep 16 518'4 518'4 514'2 514'4 -3'2 514'2s 02/05 Chart for @MW6U Options for @MW6U
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Mar 16 369'0 369'4 365'4 365'4 -2'6 365'6s 02/05 Chart for @C6H Options for @C6H
May 16 374'0 374'4 370'0 370'2 -2'6 370'6s 02/05 Chart for @C6K Options for @C6K
Jul 16 379'0 379'4 375'4 375'4 -2'6 376'0s 02/05 Chart for @C6N Options for @C6N
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Mar 16 875'6 879'0 867'2 868'6 -7'0 867'4s 02/05 Chart for @S6H Options for @S6H
May 16 878'6 882'4 871'0 872'2 -6'2 871'2s 02/05 Chart for @S6K Options for @S6K
Jul 16 885'2 889'2 877'4 878'4 -6'0 877'6s 02/05 Chart for @S6N Options for @S6N
My Custom Markets
Symbol Open High Low Last Change Close Time More

Local Conditions
Walla Walla, WA
Chg Zip Code: 
Temp: 33oF Feels Like: 29oF
Humid: 82% Dew Pt: 28oF
Barom: 30.62 Wind Dir: SE
Cond: N/A Wind Spd: 5 mph
Sunrise: 7:07 Sunset: 5:06
As reported at WALLA WALLA, WA at 8:00 AM
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Local Forecast
Walla Walla, WA
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Sunday

Monday

Tuesday

Wednesday

Thursday
High: 51°F
Low: 31°F
Precip: 0%
High: 48°F
Low: 34°F
Precip: 0%
High: 50°F
Low: 34°F
Precip: 0%
High: 54°F
Low: 36°F
Precip: 0%
High: 58°F
Low: 40°F
Precip: 0%
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Local Radar
Walla Walla, WA
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Radar
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WSU AgWeatherNET












Announcements

Merger Election Results
A special meeting of the board of directors was held on Thursday January 7, 2016 to count the ballots cast regarding the proposed merger between NWGG and CCGG. A representative of our accounting firm CliftonLarsenAllen LLP supervised and directed the counting of the ballots.
Votes Cast     666,      47.98% (25% needed for quorum)
Votes "FOR"    654,      98.2% (2/3rds needed to pass)
Votes "AGAINST"       12,      1.8%
The board is pleased to announce that the proposed merger was adopted by members of NWGG. The board wishes to express its appreciation for your support during these merger deliberations and will keep you informed as the process of merging with CCGG gets underway in the next few months and becomes effective May 1, 2016.
The proposed merger was also adopted by members of Columbia County Grain Growers, Inc. by a 90% favorable vote.

NWGG Wheat Buying Hours

SWW 8:30am -11am and 2:30pm to 4:30pm (no markets Friday afternoon)
HRW & DNS 8:30am to 11am (no afternoon markets)

 


Daily Commentary

2/5/16 - Egypt cancelled their tender after receiving only 4 offers even after clarifying their ergot tollerance earlier in the week.  European wheat prices dropped on the news and that seemed to be enough to take Chicago wheat futures with them.  


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. 2/2/16 Crop conditions in India are showing stress due to disappointing monsoon rains with many expecting they will have to import a fairly large amount of wheat for the first time since 2007.
2. 1/29/16 Russia has decided to leave its current wheat export tax in place with no changes for the time being.
3. 1/13/16 Winter wheat acreage is down 2.9 million acres versus last year mostly in HRW where acres are down 2.5 million and the smallest in 30 years.
4. 12/17/15 The U.S. dollar index is currently at its highest level since 2003.  Most of our major competitors currencies have been decreased against the dollar including: the euro, Canadian and Australian dollars. A strong dollar creates a big price disadvantage for U.S. exports, effectively pricing our grain out of the market. 
5.  1/13/16 The Argentine wheat that is now available to the world market is of poor quality and may not meet the needs of millers in Brazil, the U.S. could provide wheat to Brazil this sping to offset their own quality problems instead of Argentina.
"Extra" -  Trying to find something positive to write about, Russian and Ukranian winter wheat areas remain dry and the Ukraine is looking at a potential 20% cut to wheat production next year if conditions do not improve. A 2016 wheat or corn supply disruption is needed for prices to improve.

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