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 = $0.85bu. 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 = $6.30/bu. MGE Barge Fuel Surcharge: September -1.85% = -$.006/bu. (negative means you get a credit back)
Country Elevator (truck/rail) Fuel Surcharge: September 20% = $.024/bu.
9/19/18 - Not sure what the spark is this morning other than it looks like the futures markets may have broken out of their downtrend which is bringing in some buying there. White wheat bids firmed up along with futures, Australia has been dry since the rain early this month so maybe some more concren about crops there.
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. 9/4/18 Russian ag officials stated that there was currently not a need for any export restrictions at a meeting with grain exporters on 9/3. This is probably not the end of talk of Russia limiting milling wheat exports at some point in the future this year buy should quiet things down for awhile. 2. 8/31/18 Australia has been receiving some rain this week, even in the far eastern areas of the country which had been the driest. In the west after a dry start they are now estimating an above average crop for the region after receiving good rainfall the last few weeks. The balance of September will be important for their final production but things look better now than they did a couple of weeks ago. 3. 8/31/18 Export business for white wheat has been relatively good for white wheat versus the other classes of wheat. Indonesia has been buying pretty regularly which is good swing business that we've picked up due to Australia's poor crop last year. There was a cancellation last week that may have actually been a miss allocation of a sale to Yemen that caused some concern that they had gone back to Black Sea sources but they were back on the sales report this week. 4. 8/31/18 Some areas of the state saw low falling number issues this year in white wheat. That may have kept some wheat off the market during harvest as producers had to wait longer to receive grades and companies had to be sure that they weren't shipping that wheat out right off the combine. That probably kept some selling pressure off the market but now that harvest is mostly over it seems like the issues aren't severe enough to limit the availabilty of wheat to the market. 5. 8/31/18 The next USDA supply and demand report is Wednesday September 12th and then the quarterly stocks and small grains report is on September 28th.