850 N 4TH AVE. * WALLA WALLA, WA 99362 Walla Walla Office (509) 525-6510 Dayton Office (509) 382-2571 St. John Office (509) 648-3316 FAX (509) 529-6050 Office Hours: 7:30am to 12:00pm and 1:00pm to 4:30pm
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
2018 SWH vs. SRW Futures Basis = $1.12bu. SRW Dec 2018 futures
SWH bids are for Max 10.5% Protein Market Scales Time of Delivery
14% DNS Scales: +.00/-.02 ea. 1/4 from 14%, 16% max
11.5% HRW Scales: +.03/-.07 ea. 1/2% from 11.5%, 13% max
2019 Winter Wheat RP Base Price = $6.59/bu Portland 2019Spring Wheat RP Base Price = $6.22/bu Portland *2019 Insurance Price is calculated from 8/15/18-9/14/18
2018 Winter Wheat RP Base Price = $5.92/bu. Portland 2018 Spring Wheat RP Base Price = $6.30/bu. MGE Barge Fuel Surcharge: October -1.33% = -$.005/bu. (negative means you get a credit back)
Country Elevator (truck/rail) Fuel Surcharge: October 20% = $.024/bu.
10/18/18 Grain futures are trading lower this morning after corn and soybeans posted poor weekly sales. Wheat look good on overall but the distribution between classes tells a different story. There was a large sale of DNS to Bangladesh that was announced last week and that made up the majority of sales this week. HRW and SRW sales were very poor at just over 1 million bushels each, white wheat was decent at 4 million bushels with a little more HWW to Nigeria and DNS led the way at 10 million bushels.
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: 10/3/18 Russian rumors of export controls continue to dominate market direction. The latest rumor has Russia restricting exports from certain regions due to phytosanitary concerns but that may just be a way of slowing exports without officially enacting an export ban or tariff. 2: 10/3/18 Austrailian production may see further downgrades this month as September was the driest on record for the country and also had two potentially damaging frost events. 3: 10/3/18 U.S. export sales of wheat continue to lag the needed pace to make USDA projections for every class of wheat except white wheat. The USDA is seeming counting on a near record amount of exports for the second half of the marketing year yet they still have Russia exporting 35 million tons of wheat this year which is unchanged from earlier in the year making it a mystery as to where this extra demand is supposed to come from. 4: 10/3/18 Corn and soybean yields are both projected to be record large this year and soybean ending stocks are particularly burdensome due to the trade war with China. Corn ending stocks are projected below 2 billion bushels which is less than last year despite the huge crop. 5: 10/3/18 The next USDA supply and demand report is on Thursday October 11th.