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
Old Crop 2018 SWH vs. SRW Futures Basis = $.98/bu. SRW May 2018 futures New Crop 2018 SWH vs. SRW Futures Basis = $.64/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.
3/16/18: Rain has finally showed up in the forecast for central and western Kansas and wheat futures are continuing yesterday's slide which was started by the second poor export sales week in a row. The rain is forecast for 3-5 days out, how much actually falls and what the coverage is will be the next thing to watch. If the projected rain fizzles over the weekend then wheat will probably regain some losses but if it verifies then the slide could get steeper. The extended forecasts beyond this event are still dry so it may be a one time shot.
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.