Northwest Grain Growers is a farmer-owned cooperative in Washington and Oregon with over two thousand members.

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Cash Bids

Last Updated: October 18, 5:05 PM

Bid Notes

Friday 8:30 a.m.Bids subject to change at anytime.

Red wheat markets are morning session only.

Buying Hours

Monday - Thursday

8:30AM - 11:00AM AND 2:30PM - 4:30PM

Friday

8:30AM - 11:00AM

SWW basis vs. SRW Dec 19

$0.81

Club Premium

$0.75

HRW Protein Scales 11.5%

+.05/-.10 each 1/2%

DNS Protein Scales 14.0%

+.00/-.04 each 1/4%

Country elevator fuel surcharge

$.022/BU

2019 Winter Wheat RP Base Price

$6.59/bu Portland

2019 Winter Wheat RP Harvest Price

$5.75/bu Portland

2019 Spring Wheat RP Base Price

$6.21/bu Minneapolis Sept 2019 Futures

2019 Spring Wheat RP Harvest Price

$5.05/bu Minneapolis Sept 2019 Futures

2020 Winter Wheat RP Base Price estimate

$5.73/bu Portland

2020 Spring Wheat RP Base Price estimate

$5.51/bu Minneapolis Sept 2020 Futures

Futures

Daily Commentary

Please take note of the upcoming meeting dates from the FSA, where they will be conducting producer informational sessions for the new Farm Bill, as well as that of the NWGG Annual Meeting:

FSA – Monday, October 28th, 9:00 a.m. @ Frenchtown Hall, Touchet, WA

FSA – Tuesday, October 29th, 8:00 a.m. @ Columbia REA Building, Walla Walla, WA

FSA – Wednesday, October 30th, 8:00 a.m. @ Waitsburg, WA Lions Club Building

FSA – Thursday, October 31st, 9:00 a.m. @ Prescott, WA Lions Club Building

FSA – Monday, November 4th, 8:00 a.m. @ Best Western Hotel, Dayton, WA

NWGG – Monday, November 25th.  Informational flyers to be mailed soon.

10/18/2019

A much calmer start to the morning market today than we had yesterday with corn, MGE DNS, and KC HRW and down a few cents, and CHI SRW and soybeans up roughly the same.  The US$ is down again today, but just slightly.  Australian and French wheat futures were up, as well as their respective currencies.  

Weekly export sales news came out this morning, rather than yesterday, due to Columbus Day, and they were nothing to get excited about.  Soybeans did, however, post pretty good numbers, half of the total (850KMT of 1.7MMT) going to China.  Wheat exports were within trade expectations, but on the extreme low end, as was anticipated after markets started to show positive strength before the latest Egyptian wheat tender showed everyone that world values to were on the increase.  Corn sales are still far behind pace, and even with the US$ down US corn values are still $5-10/MT higher than competitors.

Saskatchewan harvest is moving forward again, being spared the worst of the snow/rain last week.  Some think they’ll catch up to their average pace in the coming 5-7 days, but others are saying rains will delay them again.  There’s no doubt at least part of their crops were harmed, but given they deal with tough weather every year, there hasn’t been a high level of alarm.  Manitoba did get far more snow and cold, but they allegedly were well enough along in harvest to not be particularly effected.

Chinese economic data was released this morning showing their GDP has fallen again, now at around 6% for the latest quarter, which is allegedly the lowest in 26-years.  They also put out numbers on their hog herd having shrunk 28.5% over last year, which was in stark contrast to what their own agricultural ministry stated (41%) and that figures put out by private analyst groups (45-68%).  Some analysts think a moderate run on US pork may take place soon as importing countries try to get their needs covered before China takes a bite, but it remains to be seen (US hog futures were down at the time of this writing).  Mr. Trump and China’s leader Xi Jinping are allegedly getting together in November and may sign their “phase one” deal.

The National Bank of Australia put out some crop figures and their expectations of, and they actually believe a 15.5MMT wheat crop is coming, and actually alluded to a potential further reduction from that.  The USDA pegged their crop at 18MMT on their latest WASDE report, and last year, the drought-stricken AU crop was 17MMT.  We don’t know how well regarded the N.B.A.’s crop estimates are, but it made the news.  Weather over there, for what it’s worth, continues to be poor and dry.

Brazil and Argentina have started to put out production and progress figures that are lower than last year or behind pace, blaming poor precipitation are abnormally hot weather, especially for Argentina.  One analyst smartly pointed out, too, that elections are coming soon for Argentina (Oct. 27th), and with all of the economic and currency issues had there, funny things may start to happen down there. Here’s an interesting article that puts an Argentinian farmers’ perspective to it: https://www.nbcnews.com/news/latino/argentina-farmers-worry-about-presidential-race-possible-return-interventionist-policies-n1067256

Domestic weather models are all mixed up.  It would seem MT/ND may have more rain coming in the next few days, but more certainly they will have some below normal cold weather.  Rain chances are strongest for the middle portion of the corn belt, and relatively warm temperatures will grace the majority of corn/soy harvest area, likely lending to today’s soft futures.  Locally, we start the weekend with mild chances for rain that increase as the progress.

It’s Friday, so our market will close at 11:00 a.m. and not reopen until Monday morning.  Have a nice weekend.

Current Weather

Announcements

Harvest 2019 is upon us and marks the 90th consecutive year of Grain Grower business!  Don’t forget, our smartphone app is available, just search for us in your phones app store.

About Us

Northwest Grain Growers is a leading farmer owned cooperative with more than 2000-member owners in Washington and Oregon. Walla Walla Grain Growers originally formed in 1929.

Contact

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Locations

Northwest Grain Growers has a total of 31 grain elevators, 4 barge loading facilities and 4 retail seed plants.