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: +.05 max 12.0% protein
2016 SWH vs. SRW Futures Basis = $0.95/bu. SRW March 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: +.15/-.30 ea. 1/2% from 11.5%, 13% max
2018 Winter Wheat RP Base Price = $5.92/bu. Portland 2018 Spring Wheat RP Base Price = $6.30/bu. Portland Barge Fuel Surcharge: February -2.7% = -$.009/bu. (negative means you get a credit back)
Country Elevator (truck/rail) Fuel Surcharge: February 16% = $.019/bu.
2/15/18: The wheat futures markets rallied today as the weekly drought monitor showed expanding dryness across the Southern Plains and now starting in the Northern Plains as well. Nothing has really changed but it seemed like the release of the most recent maps reminded the market of the situation that HRW states are facing. Both the Southern Plains and Argentina should see some rain in the next couple of days but then the forecast shows dry weather returning. Further strength or weakness in prices may hinge on how much precipitation actually falls in each area for this next event.
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: 2/9/18 The USDA decreased projected white wheat exports by 15 million bushels to 200 million for the year, projected ending stocks were raised a like amount to 76 million bushels. 2: 2/9/18 Speculators have covered a significant portion of their net short position on the price rally that was sparked by the decline in crop conditions in the southern plains. They still remain net short but well below the near record position they had built earlier in January. 3: 2/9/18 Projected exports for corn were increased by 125 million bushels and ending stocks reduced a like amount, world corn stocks were also cut which is bullish. The market now awaits the final production for South America where Argentina has been struggling with some drought issues. 4: 2/9/18 The forecast for Kansas remains mostly dry but Texas and Oklahoma are supposed to pick up some moisture this weekend. 5: 1/31/18 A large drop in the monthly crop condition ratings for the Southern Plains fueled a rally in wheat futures. Kansas and Oklahoma had the biggest declines as drought has taken hold in the area. The next condition report will be released at the end of February and weekly reports won't start until March.