** Contact Mark if you want our bids by text or emailed to your phone daily? Elevator Phone# 509-545-5179. All prices quoted are deld Portland prices.
1/20/17 Wheat futures unchanged to down 2c early, corn up 3c, beans up 1c. From Dec23, wheat futures had climbed 42-57c to Tuesday's highs and we now down 10-15 from those highs. New crop HRW finally reached $5 and DNS $6 deld TCG for JLy/Aug. Soybeans led the charge up 85c from Jan 10 thru Jan 17 (5 sessions). News story was Northern Argentina hurting their new crop with too much rain. Corn futures climbed 20c since Dec 23. USDA crop report Jan 12 still showed plenty of stox in world, but reduced US winter wheat planted acres by 10% which will be more than offset by the rest of the World. US Xport sales for week ending Jan 12 were 11 mil bu wheat, 54 mb corn sold, and 38 mil soybeans sold. Hearing snowed in Black Sea/Ukraine regions to help protect crops from the cold. SW basis collapsing as more wheat to move than the Asians can buy.. New crop SW basis historical low at option price Cgo Sep futures. DNS basis strong and the only wheat over $6 deld Pasco.. HRW price has gained 60c/bu on SW in past 2 months.
Wheat futures closed 2016 down $1.20/bu for HRW, - $1.04/bu for Cgo SRW, -23c on DNS, and down 40c/bu for corn. Not a great trend. Not much to get excited about in commodity prices except that they are really low already. Plenty of wheat in the World. Weather markets starting... All the crop reports this year have shown big world crop production with record stocks available. US exports still larger than last year even with world bigger crops and High dollar. US cold weather slowing down rail movements. Aussie wheat early harvest yields fantastic and talk about increasing their crop size up 4 mil MT (150 Mil bu) to a 1.1 bil bu record crop... Think we stuck with 20c - 30c ranges for a while with no major rallies at this time. US winter wheat off to a good start. Big Corn and Soybean harvests are done.
Snake & Columbia River system barge traffic is now shut down til March 20th re-opening. Won't help prices any.
HRW ldp been 6c today and DNS & SW still a mile away. Your County FSA office has form 633EZ to fill out to collect ldp payments. Spec crowd still short huge amounts Cgo wheat and corn. Commercials and growers are long.
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