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: January 21, 6:49 AM

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 Mar 20

$0.57

SWW Jul/Aug basis vs. SRW Sept 20

$0.35

Club Premium

$1.50

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

Our offices will be closed on Monday January 20th for Martin Luther King Jr. Day

 

**Please consider reading and commenting on the draft report that Governor Jay Inslee has published in regards to the removal of the dams.  There are those who want the removal of the dams to happen, and the Agricultural industry would suffer enormously and if you oppose the dam removals, we could use your help.  The comment period closes on January 24th!**

Here’s a link to the website:  http://lsrdstakeholderprocess.org/ 

1/16/2020

Markets are taking a stern kick to the shin this morning with Chicago SRW, KC HRW, and corn futures all down 10, soybeans down 5, and Minneapolis DNS down 3.  The US$ is up to boot.  What gives?

The most prevalent subject line in agricultural trading newswires this morning states something to the tune of “Chinese trade deal uncertainty.”  Yes, the deal is signed, but as was alluded to beforehand, there are no explicit notes as to WHAT will be bought, and also the clauses within, notably one that says the Chinese will only buy if “market conditions” are suitable, i.e. they aren’t forced to buy if prices are unreasonably high.  That’s not a ridiculous idea.  Another line that hasn’t been widely reported on states that if the US re-introduces tariffs the deal is forfeit.  

There’s quite a list of other things in the deal, and a good summary can be found via this link: https://www.reuters.com/article/us-usa-trade-china-details-factbox/whats-in-the-u-s-china-phase-one-trade-deal-idUSKBN1YH2IL

Following their news release of setting an export quota on wheat, the Russian government was mostly dissolved by Putin and is being rebuilt again.  This isn’t an overly outrageous thing for them to do, but it is a talking point in world media.

A series of reports just came out this morning that talk about prolonged drought in Australia, and the thought that it may continue into their seeding season this March-May.  Currently, according to the wires, their drought looks to continue for at least the next month, and the possibility of it extended seems moderately likely.  Australian wheat prices have climbed some as their latest harvest is likely to be dismal, like the year before.

This morning’s weekly Export Sales report came out with relatively strong numbers for wheat and corn, and decent for soybeans.  The market correction of the day seems to have totally glossed this good bit of news over, but nonetheless it was a healthy sight to see given prices have been climbing in recent weeks, and the presence of buyers (even those for DNS) was welcome.  

French wheat futures tested a high last night and subsequently failed and traded similar to what we’re seeing here in our markets today.  Both countries’ grain trade riding high on Russian export news, and falling just as quickly on profit taking afterwards.  Markets will likely be switching over to ‘weather markets’ as we watch S. American crops finishing and keep a wary eye on EU/Russia warmth/dryness/lack of snow cover going forward, oh, and hoping the Chinese come and in and buy in earnest.

Here’s the highlights from Friday’s reports:

  • US wheat ending stocks lowered slightly on increased domestic consumption.
  • US HRW exports were lowered some, too, on price increases relative to world values.
  • AU, RUS, and BRA wheat production  lowered slightly and only EU wheat was increased (still a net world decrease).
  • World wheat ending stocks lowered 1MMT due to above production decreases.
  • US HRW seeding down 600,000 acres, slightly more than average trade guess.  SRW seeding up 400,000 acres from last year, also above trade guess.  Winter white wheat (hard and soft combined) down 150,000 acres which was below the average trade guess by the same amount.
  • US corn yield increased 1 bushel/acre to 168.  Trade guessed went the other direction the same amount.  Harvested acres were virtually unchanged, too.
  • US soybean yield increased .5 bushel/acre to 47.4.  Trade guessed it would’ve decreased.  Harvested acres were virtually unchanged, too.
  • World corn ending stocks decreased by 3MMT.
  • World soybean ending stocks increased very slightly.

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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.

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Locations

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