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 = $1.05/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 = $5.92/bu. Portland
Barge Fuel Surcharge:
December -3.0% = -$.01/bu. (negative means you get a credit back)
Country Elevator (truck/rail) Fuel Surcharge: December 17% = $.02/bu.
“The Farm Service Agency (FSA) deadline for 2018 acreage reporting for fall seeded crops is Friday, December 15, 2017. Please call your local FSA office to make an appointment. Any appointments made after the December 15, 2017 deadline will be subject to a late file fee per farm number.”
12/12/17 USDA supply and demand report out at 9:00, local market sometime after that.
U.S. wheat ending stocks raised 25 million bushels from last month, world wheat ending stocks increased just under a million metric tons. U.S. corn ending stocks were reduced 50 million bushels.
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: 12/14/17 ABARE in Australia revised their wheat production estimate down to 20.3 million metric tons from 21.64 mmt in September, the USDA did not update their production number this month leaving it at 21.5 mmt. A much larger revision lower would be required to move wheat prices significantly higher at this point. Heavy rains in the south eastern part of the country probably damaged some wheat but it's too early to estimate the amount of production that has been affected. Australian wheat harvest is about 80% complete at this point 2: 12/14/17 The USDA raised projected U.S. wheat ending stocks by 25 million bushels this month and world stocks by 900k metric tons. 3: 12/14/17 White wheat ending stocks were trimmed 2 million bushels to a projected 65 million bushels. Export projections remain a lofty 210 million bushels which will be difficult to achieve unless sales increase above the current pace. 4: 12/14/17 Speculators have a large short position in wheat futures,it is well off the record short position that they had earlier this year but could provide fuel for a decent short covering rally if a story comes along to spark it. 5: 12/14/17 The next major USDA reports are out on January 12th with the regular supply and demand report along with quarterly stocks and winter wheat planted acreage.