Local Cash Bids
	loading...   May June July August Walla Walla SOFT WHITE WHEAT Cash Price   BARLEY Cash Price   14% DNS Cash Price   11.5% HRW Cash Price
	Price as of 05/25/13 07:54AM CDT. Month Symbols
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	Bid Notes
	Prices Updated Friday 8:30 a.m. BIDS ARE SUBJECT TO CHANGE AT ANY TIME 2013 Winter Wheat RP Base Price = $8.40/bu. Portland  2013 Spring Wheat RP Basie Price = $7.37/bu. Portland Soft White vs. SRW Basis = $.95 14% DNS Scales:  +.00/-.05 ea. 1/4 from 14% 11.5% HRW Scales:  +.02/-.04 ea. 1/2% from 11.5% 2012/13 Barge and Rail/Truck fuel surcharges have been capped at 30% to our members.  Barge Fuel Surcharge:  May 27% = $.06/bu. (actual 27%, capped by NWGG at 30%) Country Elevator Fuel Surcharge: May 29% = $.035/bu. (actual 29%, capped by NWGG at 30%)

	Futures
	@W - WHEAT - CBOT Month Open High Low Last Change Close Time More Jul 13 704'0 707'4 696'2 696'2 -5'6 697'4s 05/24 Sep 13 710'0 714'2 703'0 703'4 -5'2 704'4s 05/24 Dec 13 723'4 728'0 716'4 716'4 -5'0 718'0s 05/24 Mar 14 738'0 742'0 730'6 731'6 -5'2 732'2s 05/24 @KW - HARD RED WINTER WHEAT - KCBT Month Open High Low Last Change Close Time More Jul 13 755'0 757'2 744'4 744'6 -8'6 745'6s 05/24 Sep 13 761'2 764'2 751'4 751'4 -8'6 752'6s 05/24 Dec 13 778'4 780'0 767'6 768'4 -9'2 769'2s 05/24 Mar 14 789'6 793'2 781'0 782'6 -9'4 782'0s 05/24 @MW - HARD RED SPRING WHEAT - MGE Month Open High Low Last Change Close Time More Jul 13 812'2 815'6 805'0 805'0 -7'4 805'6s 05/24 Sep 13 805'0 807'0 798'4 799'0 -5'6 799'2s 05/24 Dec 13 812'2 813'2 805'2 805'4 -5'6 806'0s 05/24 Mar 14 823'2 825'0 818'2 818'6 -6'0 818'2s 05/24 @C - CORN - CBOT Month Open High Low Last Change Close Time More Jul 13 660'4 664'6 655'4 656'4 -4'6 657'2s 05/24 Sep 13 561'2 567'4 555'0 566'2 3'2 566'6s 05/24 Dec 13 533'4 536'6 527'0 536'0 1'6 536'4s 05/24 @S - SOYBEANS - CBOT Month Open High Low Last Change Close Time More Jul 13 1493'0 1505'6 1471'2 1476'0 -23'2 1476'2s 05/24 Aug 13 1409'6 1421'6 1396'0 1402'0 -12'0 1402'4s 05/24 Sep 13 1298'0 1307'0 1292'2 1299'2 0'4 1300'0s 05/24 @ZG - GOLD 100 OZ - NYSEL Month Open High Low Last Change Close Time More May 13 1386.800 - 5.200 1386.800s 05/24 Jun 13 1383.700 1383.700 1383.700 1383.700 - 5.200 1386.600s 05/24 Jul 13 1387.000 - 5.300 1387.000s 05/24 My Custom Markets Symbol Open High Low Last Change Close Time More

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	Announcements
	Northwest Grain Growers will be closed on Monday May 27 in observance of Memorial Day.  The grain markets are closed on Monday.  We will return to normal operating hours on Tuesday.  Have a safe and happy holiday weekend! NWGG New Wheat Buying Hours SWW 8:30am -11am and 2:30pm to 4:30pm (no markets Friday afternoon) HRW & DNS 8:30am to 11am (no afternoon markets) Northwest Grain Growers has hired Byron Behne as our new grain marketing manager.  Byron grew up on a small family farm in Hartline, WA and graduated from WSU with an Agribusiness degree. He spent a year working on a potatoe seed farm before being hired as the branch manager for Odessa Union in Ephrata where he obtained his futures broker's license.  Byron has been the lead grain merchandiser for Odessa Union since 2006.  Bryon will be moving to Walla Walla with his wife and 2 year old daughter in late May.  Please help us welcome Byron and his family as they join NWGG and the Walla Walla community.

	Daily Commentary
	5/23/13 - Corn market got a shot in the arm this week when China bought around 500,000 tons of U.S. corn.   When prices have made new lows China has stepped up and bought U.S. SRW and U.S. corn now putting at least a temporary floor under the markets.  The big speculative funds who are short wheat and corn are covering some of their positions as the markets turn around, however wheat prices are still in the middle of the price range that we have seen for the last 2 months.     CBOT announced that they are moving back toward their old trading hours.  Right now the futures markets are open Sunday thru Friday opening at 3pm and closing at 12pm the next day.  To try and add more volume they are going back to the 2 opens and 2 closes per day type of structure.  The markets will now open at 5pm and close the next morning at 5:45am and then they will reopen at 6:30am and close at 11:15am.  This change is scheduled to take place on April 8th, 2013.

	The Weekly Top Five
	These are the 5 biggest issues that NWGG feel are affecting today markets and items to watch for as we progress through the year.      1.  Cool and wet weather in the Midwest is making it look like it is still winter in North Dakota, South Dakota and Minnesota.  They went from having very little moisture this winter to a couple feet of snow this spring.  Lots of acres of corn are needed to replenish supplies after last year's drought ravaged crop.  How many acres of corn will be switched to soybeans or spring wheat if the weather does not warm and dry up pretty soon?  2.  A poor U.S. corn crop resulting in tight world carryovers is going to support prices until the world is able to replenish supplies either through a large South American crop or the 2013 U.S. corn crop. 3.  2012 drought conditions have plagued the 2013 U.S. wheat crop all winter and spring.  Some moisture is finally falling across the Midwest in March and April, however will it be too late to help winter wheat crop prospects?   The rest of the Northern Hemisphere wheat crop looks in pretty good shape as of today. 4.  The PNW export market still has a labor issue to resolve.  Four of the six export facilities in Portland ("Grain Group") have operated under the same longshoreman union agreement.  That contract expired September 30th, 2012.  Since then the Grain Group and ILWU have been operating under "good faith".  The longshoreman had a very contentious labor dispute last year with the new export facility EGT.  EGT was able to negotiate a better labor deal than the one that the "Grain Group" is operating under now.  Update: Temco broke away from the group and signed their own labor agreement with the ILWU.  United Grain locked out the ILWU after they hired a security expert who found an ILWU employee sabotaging equipment.  United Grain is currently using non-union employees and management to run the elevator and ILWU employees are striking at the entrance to their property.  The other 2 exporters are still operating under the last offered unsigned agreement.  This situation will not go away easily or quietly.  5.  Outside economic influences may have the last word.  Europe's economic woes lead the headlines just about every day.  Chinese economic indicators have been showing signs of slowing down. The index funds are massively long Ag. futures, if they decide to change their position it will have a huge effect on price.  We are living in very volatile times when it seems like anything can happen, and given enough time probably will happen.

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	Local Conditions
	Walla Walla, WA Chg Zip Code:  Temp: 45oF Feels Like: 41oF Humid: 77% Dew Pt: 38oF Barom: 30.03 Wind Dir: S Cond: N/A Wind Spd: 7 mph Sunrise: 5:09 Sunset: 8:30 As reported at WALLA WALLA, WA at 5:00 AM
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	Walla Walla, WA
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