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 Monday, May 25, 2015
 
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Local Cash Bids
 
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Walla Walla SOFT WHITE WHEAT Cash Price
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BARLEY Cash Price      
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14% DNS Cash Price
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11.5% HRW Cash Price
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CLUB PREMIUM Cash Price  
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CANOLA Cash Price      
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Price as of 05/25/15 12:17PM CDT.
Month Symbols
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Bid Notes

Prices Updated Friday 8:30 a.m.

BIDS ARE SUBJECT TO CHANGE AT ANY TIME

2015 Winter Wheat RP Base Price = $6.20/bu. Portland

2015 Spring Wheat RP Base Price = $6.55/bu. Portland

Soft White vs. SRW July Futures Basis = $1.10/bu.

New Crop Soft White vs. SRW Sep. Futures Basis = $1.05/bu

14% DNS Scales:  +.15/-.25 ea. 1/4 from 14%

11.5% HRW Scales:  +.00/-.04 ea. 1/2% from 11.5%

2014/15 Barge and Rail/Truck fuel surcharges have been capped at 30% to our members. 

Barge Fuel Surcharge:
May 17% = $.037/bu.

Country Elevator Fuel Surcharge:
May 17% = $.02/bu.


Futures
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Jul 15 521'4 529'0 511'0 514'4 -6'6 515'2s 02:14A Chart for @W5N Options for @W5N
Sep 15 529'0 536'4 518'2 522'4 -6'4 523'0s 09:28A Chart for @W5U Options for @W5U
Dec 15 542'0 549'6 532'0 536'4 -5'4 537'0s 09:43A Chart for @W5Z Options for @W5Z
Mar 16 560'6 563'2 545'2 551'0 -4'2 551'4s 07:43A Chart for @W6H Options for @W6H
May 16 571'0 571'0 554'0 559'4 -3'4 560'2s 05/24 Chart for @W6K Options for @W6K
@KW - HARD RED WINTER WHEAT - KCBT
Month Open High Low Last Change Close Time More
Jul 15 557'0 564'0 545'0 545'4 -11'2 546'4s 11:47A Chart for @KW5N Options for @KW5N
Sep 15 567'0 574'2 555'4 556'0 -10'6 557'0s 05/24 Chart for @KW5U Options for @KW5U
Dec 15 583'2 590'2 572'0 572'6 -10'2 573'4s 11:25A Chart for @KW5Z Options for @KW5Z
Mar 16 596'6 600'6 587'0 587'0 -9'2 586'2s 11:26A Chart for @KW6H Options for @KW6H
@MW - HARD RED SPRING WHEAT - MGE
Month Open High Low Last Change Close Time More
Jul 15 576'6 583'0 567'4 567'4 -9'4 568'6s 05/24 Chart for @MW5N Options for @MW5N
Sep 15 589'2 594'0 578'4 578'4 -9'2 580'0s 05/24 Chart for @MW5U Options for @MW5U
Dec 15 601'0 606'6 592'2 593'4 -9'2 593'2s 05/24 Chart for @MW5Z Options for @MW5Z
Mar 16 615'0 620'0 604'6 606'0 -9'4 605'6s 05/24 Chart for @MW6H Options for @MW6H
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Jul 15 364'0 367'6 359'6 360'2 -5'0 360'0s 10:52A Chart for @C5N Options for @C5N
Sep 15 370'2 374'0 366'2 366'6 -4'6 366'6s 05/24 Chart for @C5U Options for @C5U
Dec 15 381'4 384'6 377'0 378'0 -4'4 377'6s 09:29A Chart for @C5Z Options for @C5Z
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Jul 15 938'0 942'4 922'6 925'2 -14'2 924'2s 10:15A Chart for @S5N Options for @S5N
Aug 15 929'2 933'6 915'0 916'2 -13'4 916'2s 10:09A Chart for @S5Q Options for @S5Q
Sep 15 918'6 924'4 906'4 908'0 -12'6 907'4s 05/24 Chart for @S5U Options for @S5U
My Custom Markets
Symbol Open High Low Last Change Close Time More

Local Conditions
Walla Walla, WA
Chg Zip Code: 
Temp: 62oF Feels Like: 62oF
Humid: 52% Dew Pt: 44oF
Barom: 29.91 Wind Dir: SSW
Cond: N/A Wind Spd: 14 mph
Sunrise: 5:10 Sunset: 8:29
As reported at WALLA WALLA, WA at 10:00 AM
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Local Forecast
Walla Walla, WA
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Monday

Tuesday

Wednesday

Thursday

Friday
High: 77°F
Low: 58°F
Precip: 0%
High: 77°F
Low: 56°F
Precip: 30%
High: 78°F
Low: 56°F
Precip: 80%
High: 86°F
Low: 60°F
Precip: 22%
High: 89°F
Low: 63°F
Precip: 0%
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Local Radar
Walla Walla, WA
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Radar
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Announcements

Northwest Grain Growers will be closed on Monday May 25, 2015 in observance of Memorial Day.  Grain markets will re-open on Tuesday May 26, 2015. Have a safe and happy holiday weekend! 


2014 Soft White Wheat Low Protein Announcement

2014 SWW protein levels have been an issue all year.  Higher than normal protein levels resulted in premiums being paid for maximum 10.5% SWW and lower.  NWGG was able to seperate about 30% of last years crop under 10.5% protein due to early recognition, having purchased several protein testing machines over the last few years and excellent segregation work by our warehouse management, crew and part-time summer help.  Due to the marketing gains from the 10.5% sww, NWGG board of directors has elected to pay out a low protein premium to all the members who delivered SWW with protein levels below 10.5%.  Those checks were mailed on May 11, 2015 with total premiums being paid out to members of $793,000.  If higher SWW protein levels are a problem in the future it is very likely you will see a market premium/discount protein scale for SWW that will be adjusted on your settlement (just like HRW and DNS). NWGG did not have to take a discount from members for higher protein SWW this year.  

For more information please click on the following link:

2014 SWW Low Protein Letter 

 

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

5/22/15 - Today looked like it was going to be a good day in the grain markets until the dollar rallied sharply during the morning break in trading.  Wheat futures had been up 6 overnight but tanked on the re-open and just kept going down from there.  Long weekend coming up and whether or not the extended forecasts remain wet for the Plains will probably determine our direction on Tuesday.  Have a safe Memorial Day weekend!


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. 5/15/15 Recent rains and cooler temperatures have increased the potential size of this year's SWW crop which has put some pressure on new crop basis levels.  However prices still remain a bit below where producers are willing to sell cash grain.
2. 4/24/15 Basis levels for old crop soft white wheat have come under pressure as remaining export business for the year is extremely limited unless there's a surprise somewhere.  Japan is pretty much done with old crop however their early new crop buys will be tough as supplies are so tight at the end of this year.
3.5/11/15 Wheat futures pushed through September lows and to the lowest levels in 5 years, speculators have built up a record short position during the period and seem content to add to it unless an event happens that kicks them out.
4. 5/11/15 The Plains states have seen substantial moisture over the past couple of weeks which will likely improve yields estimated by the Kansas wheat tour and also have provided very needed moisture for spring wheat in the Dakotas.
5. 5/15/15 The USDA FAS office in Beijing cut their estimated Chinese wheat stocks to half of what the USDA is currently using on their World Agricultural Supply and Demand Estimates that come out monthly.  Not sure how that gets reconciled and it probably won't be adjusted into the official numbers but it's something to keep on the radar and keep an eye open for Chinese wheat buying this year.


 

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