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
Old Crop 2018 SWH vs. SRW Futures Basis = $0.74/bu. SRW Sept 2018 futures
New Crop 2018 SWH vs. SRW Futures Basis = $0.74/bu. SRW Sept 2018 futures
New Crop SWH bids are for Max 10.5% Protein Market Scales Time of Delivery
14% DNS Scales: +.04/-.08 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 = $6.30/bu. MGE Barge Fuel Surcharge: July 0% = -$.00/bu. (negative means you get a credit back)
Country Elevator (truck/rail) Fuel Surcharge: July 20% = $.024/bu.
A reminder from your local FSA offices: “The Farm Service Agency (FSA) deadline for 2018 acreage reporting for spring seeded crops is Monday, July 16, 2018. Please call your local FSA office to make an appointment. Any appointments made after the July 16, 2018 deadline will be subject to a late file fee per farm number.” ` Kelley Betts County Executive Director Email: email@example.com
7/20/18 - Wheat futures are rallying today but white wheat is stuck in neutral. Harvest pressure is starting to pick up and seemingly keeping prices in check. The size of this white wheat crop will take quite awhile to chew through. Eventually after harvest if Australia comes in well below average again and these European and Russian production cuts come to fruition then perhaps the U.S. can start to regain some export share and improve things moving forward.
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: 7/5/18 June saw grain futures prices fall on generally good conditions for row crops as well as concerns about global trade. White wheat prices remained stable despite moves in Chicago futures as good export demand has exporters with sales that still need to be filled at the end of July. 2: 7/5/18 The planted acreage report at the end of June showed a larger than expected increase in spring wheat acres with corn and soybeans seeing increases that were closer to expectations. 3: 7/5/18 European wheat futures have been rallying as France cut their expected production by 4 million metric tons last week and Germany has projected production this year down 15% from last year. Russian spring wheat acreage was cut due to cold and wet conditions at seeding and winter wheat production will be down from last year's record based on drier conditions this spring. 4: 7/5/18 Australian wheat areas started the year very dry but western areas have seen rains recently. If better rains don't materialize this could be their second year in a row of below average production which would help white wheat prices remain firm going forward. 5: 7/5/18 The next USDA supply and demand report is on July 12th and world wheat production should be revised lower, just how large the reduction is will help determine price direction from here.