** Contact Mark if you want our bids by text or emailed to your phone daily? Elevator Phone# 509-545-5179. Grain futures now trading 17.5 hours a day.
Aug 29- Wheat futures rallied as much as 30c again Wed & Thursday with escalation of a bigger war between Russia & Ukraine. Market shorts were nervous and reduced some of their exposure. 3 day weekend with no markets also has volatility high. World crops are still growing for Wheat & Feed grains which should keep prices defensive. US is still staring at record corn and soybean crops coming. US export sales have lots of foreign competition and for week ending Aug 21 were 14.8 mil bu wheat sold,26 mil corn & good for soybeans at 47 mil bu. Still lots volatility & 10-20c trading ranges daily. PNW SW yields are down at least 25%. South Eastern Idaho has some real sprout & quality issues from big harvest rains, and North Dakota harvest delays due to rain causing quality concerns on Spring Wheat. USDA crop report projected 14 bil corn crop at 167 bpa and think it could get bigger. US & world wheat production climbed as expected. Still feels we are near the bottom. Ideal US growing weather has had all commodity prices on the defense. SW now $7.10. White club bid + $2.25/bu premium over SW. China is notably absent and not buying US Corn, DDG's, or wheat. World Grain stox are increasing by 5-10%. Corn prices are at 4 year lows. Hard to think prices can come down much more now, but wait....
Futures markets open 5pm to 5:45am, 45 min break and start again 6:30am til 11:15am PST.
Elevator Hours normal again 8 am - 5 pm Mon thru Fri. closed Sat & Sun Office Hours: 7am - 4:30pm Mon thru Fri.
During Saturday, rain showers will work across the central and eastern Midwest, south through the Delta. We'll see drier conditions elsewhere ahead of a new round of showers moving into the Northern Plains and western Midwest during the Labor Day weekend. » More DTN Weather Commentary