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Cash Bids & Our Comments

 

Start looking at selling 2011 wheat prices on this latest $1.50/bu wheat rally.  ** Contact Mark in our office if you want our bids texted or emailed to your phone daily?  To read our futures brokers daily market opinions, click on Daily Commentary Tab on the left.  Scroll down on home page to look at electronic futures daytime and starting again at 4 PM PST.        

9/2- Wht futs closed up 5-10c today as DNS led the way. Corn is up 1c after being down all morning.  SW 6.50 PNW. Germany bot a small jag of U.S. protein wheat and are to buy upwards of 1 mmt. Also talk about EU lifting its import tariff. Argentina now seeing a weather pattern in the region.   W.Aus dry and losing some crop, but E.Aus has good crops to offset their Western Brethren?  Paki won't xport wht now with all the flooding.  US export sales for wk Aug23 were good at 65 mb corn, 38 mb wht, & 22 mb beans.  Market still digesting Russian embargo as Asian and African customers have to come in and buy wht again at $2/bu higher.   US wht & corn exports have really benefitted from this embargo.  Price will remain volatile waiting for Russian rains and the Southern Hemisphere crops to finish developing in Nov & Dec.  Wk of 8/9-13 US export sales unbelievable 52 mil bu wht, 113 mbu corn, & 82 mbu soybeans! (Game On!) corn volume a 16 year high!.     Sep 10 will be next USDA crop report and expecting wht crop production to be reduced again. 

Unfortunately  PNW river system shuts down for 14 wks this winter from Dec9 thru Mar27.  Too bad in a good export year.  It's anybody's guess how this will work out for all of us.  Might have most of your wheat sold by Dec1 as we will be bidding interest & stg off using April prices?  US crops are good.    White club is at a 25c prem.    Still don't know Montana & N.Dak DNS proteins but still thinking low with good crops.  Corn has been enjoying the wheat ride up for about 50c/bu. 

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Local Cash Bids
 
  Dlvd TCG
SWDLVD DNS14%DLVD HRW11.5%DLVD BLY@BIN YC@BIN
Cash Price Converted Price Cash Price Converted Price Cash Price Converted Price Cash Price Converted Price Cash Price Converted Price
Sep            
Oct 10        
Nov              
Dec              
Jan 2011          
New Crop 2011          
Price as of 09/03/10 03:15AM CDT.
Month Symbols
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New Crop Thoughts
NC 2011-  Amazing how quick weather markets can take over a market.  Since June 30, wheat prices have climbed $2/bu.   Looks like we've lost over 1 Billion bu of wheat production in past 60 days.   This rally giving some good opportunities to sell some wheat for 2011 harvest.  On Aug5, 2011 highs reached to $6 SW, $6.90 HRW, & $7.60 DNS for Pasco prices.   
Corn prices have been more defensive.  Dec corn futs now back up to $4.20/bu and up 70c/bu from June 29 lows.  Big US corn crop potential is still there.   Corn weather has been more forgiving, but feels there is enough volatility for another rally or two before corn harvest starts.  $163/ST Oct Corn is the 7 mo high and we're still close.  
  We are building approx 15c/bu protection into our new crop bids to cover any additional fuel increases and interest on our margin calls.  That way you will get the price that the contract states with no small print or other clauses.  With new rules for Spec Fund & Index Fund position limits, we don't expect the big gyratons we have seen the past 2 years.  (Throw this statement out the door!!)  Volatility for wheat is now at an amber alert & think the rest of this crop year will be crazy.   As always, figure out what grain prices are profitable and sell them.   CRC crop insurance shld  be non factor.   World economy still needs to improve to get goods moving again.  DF
    
  

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Quotes
 
@C - CORN - CBOT
  High Low Last Chg
Sep 434'0 431'6 434'0 1'0
Dec 448'6 446'0 448'6 1'2
Mar 461'6 459'4 461'6 1'0
May 468'0 465'6 468'0 0'6
Jul 473'6 471'0 473'6 1'0
Sep 462'4 461'0 462'4 1'0
Dec 453'0 450'4 453'0 1'2
Mar 463'0 461'0 463'0 0'6
May 468'0 468'0 468'0 0'0
 
@W - WHEAT - CBOT
  High Low Last Chg
Sep 685'6 682'0 685'4 4'6
Dec 723'6 714'0 722'2 8'4
Mar 746'2 736'0 744'0 6'2
May 744'0 735'0 741'0 6'2
Jul 721'6 714'0 720'6 5'6
Sep 726'6 720'2 726'6 6'6
Dec 731'6 725'4 731'6 6'6
Mar 731'4 731'4 731'4 0'0
May 721'4s -1'2
 
@KW - HARD RED WINTER WHEAT - KCBT
  High Low Last Chg
Sep 718'0s 5'6
Dec 740'0 732'2 737'0 4'6
Mar 751'6 742'4 748'6 5'2
May 741'6 737'0 741'6 5'4
Jul 720'0 718'0 720'0 1'6
Sep 725'0 721'4 725'0 3'0
Dec 728'4 727'2 727'2 0'6
Mar 726'4s -2'4
May 719'4s -2'4
 
@MW - HARD RED SPRING WHEAT - MGE
  High Low Last Chg
Sep 718'2 718'2 718'2 -2'6
Dec 742'6 734'0 741'2 6'2
Mar 747'0 740'6 747'0 4'6
May 742'0 736'4 742'0 5'0
Jul 735'4 733'4 735'0 1'0
Sep 715'0 713'0 713'0 -0'2
Dec 723'4 716'0 722'0 5'2
Mar 717'0s -5'6
May 717'2s -3'2
 
@S - SOYBEANS - CBOT
  High Low Last Chg
Sep 1018'4 1008'0 1018'4 11'0
Nov 1019'6 1009'0 1019'6 10'6
Jan 1029'0 1018'4 1028'4 10'0
Mar 1035'6 1025'2 1035'6 10'6
May 1039'2 1030'0 1039'0 9'6
Jul 1048'0 1038'0 1047'2 9'6
Aug 1039'0 1037'0 1037'0 7'2
Sep 1015'4s 3'4
Nov 1013'4 1003'4 1013'4 8'0

Reminder
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TriCities Grain Photo Gallery

  

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Local Conditions
Pasco, WA
Chg Zip Code: 
Temp: 55oF Feels Like: 55oF
Humid: 74% Dew Pt: 47oF
Barom: 30 Wind Dir: NW
Cond: Clear Wind Spd: 7 mph
Sunrise: 6:19 Sunset: 7:31
As reported at PASCO, WA at 1:00 AM
 
Local Radar
Pasco, WA
Radar
 
Local Forecast
Pasco, WA

Friday

Saturday

Sunday

Monday

Tuesday
High: 92°F
Low: 50°F
Precip: 20%
High: 89°F
Low: 53°F
Precip: 0%
High: 83°F
Low: 48°F
Precip: 0%
High: 77°F
Low: 46°F
Precip: 0%
High: 78°F
Low: 48°F
Precip: 20%
View complete Local Weather
 
DTN Weather Summary
Rainy, Cool Friday Ahead
Bryce Anderson (Bio) – DTN Meteorologist

On Friday, we'll see a band of light rain from the Great Lakes south to the Ohio Valley, then southwest through the northern Delta into central Texas. Temperatures will turn cooler as well for the entire central U.S. ahead of the holiday weekend. » More DTN Weather Commentary

Posted at 1:34PM Thu Sep 2, 2010 CDT

 
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