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
Old Crop 2018 SWH vs. SRW Futures Basis = $1.15/bu. SRW May 2018 futures New Crop 2018 SWH vs. SRW Futures Basis = $.75/bu. SRW Sept 2018 futures
New Crop SWH bids are for Max 10.5% Protein Market Scales Time of Delivery
14% DNS Scales: +.08/-.12 ea. 1/4 from 14%, 16% max
11.5% HRW Scales: +.10/-.20 ea. 1/2% from 11.5%, 13% max
2018 Winter Wheat RP Base Price = $5.92/bu. Portland 2018 Spring Wheat RP Base Price = $6.30/bu. MGE Barge Fuel Surcharge: March -2.85% = -$.01/bu. (negative means you get a credit back)
Country Elevator (truck/rail) Fuel Surcharge: March 16% = $.02/bu.
Congresswoman Cathy McMorris Rodgers will be holding a Farm Bill/Market Access meeting at the Walla Walla Regional Airport conference room on Tuesday morning March 27, 2018. The meeting will be an hour long starting at 8am. NWGG producers are encouraged to attend.
3/23/18: Wheat exports were better than expectations but the expectations were so low that it wasn't a tall task. Export sales for the week were 15.7 million bushels for all classes combined with 9.7 mb of old crop and 6 mb of new crop, white wheat had 2.1 mb of old crop and 400k of new crop. Corn and soybean sales were both strong but towards the lower end of lofty expectations. Grain futures were posting sharp losses overnight on fears of Chinese retaliation for U.S. tariff increases but things have moderated a bit this morning. Forecasts for rain in the Southern Plains have most of the moisture missing the dry western areas of Kansas, Oklahoma, and Texas this morning which may be helping to take futures back towards unchanged.
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: 3/5/18 Drought in Kansas has been the major driving factor for the wheat markets over the past month and the forecast for Kansas is still dry. 2: 3/5/18 Drought in Argentina has rallied soybean prices this month lead by meal. Corn production in Argentina could actually be a major factor for wheat this year because if wheat needs to be fed to replace global corn demand then our burdensome stocks situation could be improved. 3: 3/5/18 White wheat basis levels have come under pressure on the rally in the futures markets but cash prices are at their highest levels since the spring wheat induced rally from last June. 4: 3/5/18 Speculators have covered a significant amount of their net short position in Chicago wheat futures but have not moved into a net long position yet, in KC futures speculators are net long. 5: 3/5/18 The next USDA monthly supply and demand report is on March 8th and the Prospective Plantings report along with Quarterly Stocks is on March 29th.