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Cash Bids & Our CommentsNOTE: ALL PRICES ARE NOW DELIVERED PASCO, NOT PORTLAND
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Office #509-545-0900 & Elevator #509-545-5179.
We hired a new merchandiser Nels Solberg. He has 5 years experience working for CGI in Montana trading Redwheats and rail freight.
3/26/19- Boards a mixed bag today HRW DNS and YC both down a penny or two while Chicago wheat was up as much as 8 cents, currently only up 4. Egypt tendered for 120K MT of of opt origin wheat yesterday so far Cargill SRW out of the gulf appears to be the cheapest. Reason Chicago futures are seperating a bit today. Heavy fund short remains in the market, but they have covered 15K contracts over the past week. We are of the opinion that overall spring planting will be just fine, BUT that does not mean the market doesn't view it as an issue and it could keep a floor under these futures. This is a weather market, as weather and logisitics improve, expect prices to fade back whether its in the form of a basis drop or futures, still feels like we are a week or two away from that happening though. Over all picture for US wheat prices still bearish as plenty of World stox available and crop projections for coming harvest are up in the world. US ending stox up 45 mil bu on Mar8 USDA report which takes US to 1 bil bu C/O. Russia, Black Sea, & Europe production projected to climb 500-700 mil bu this coming season. USDA projected 2019 planted corn acres at 92 million, up 3 million from this past year. Dec corn futures trading at $4, positive china news is and will provide good selling opportunies for 2019 crop. USDA stocks report and 2019 seeding intentions out this Friday. TPP- Jpn is our 2nd largest wheat export market. We now at $6/MT disadvantage vs Canada & Aussie, this disadvantage increases to $14/MT (40c/bu) on April 1 due to US non-participation in TPP. US Trade Reps hope to start negotiations with Japan now in April on Bilateral talks for all US Ag products. Unfortunately they getting a late start and I expect progress to be snail-like slow.
Cash Bids DLV TCG
Quotes retrieved on March 26, 2019, 03:35:29 PM CDT
All grain prices are subject to change at any time. Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
Quotes retrieved on March 26, 2019, 03:35:29 PM CDT
All grain prices are subject to change at any time. Cash bids are based on 10-minute delayed futures prices, unless otherwise noted. Futures Quotes
Quotes retrieved on March 26, 2019, 03:35:29 PM CDT
Commentary
Corn Market News and Commentary -
Corn futures are showing 1 to 2 cent losses at midday on Turnaround Tuesday. Trade estimates for this Friday’s Planting Intentions report are Soybean Market News and Commentary -Soybean futures are trading 5 to 6 cents lower in the front months on Tuesday. Meal futures are down $3.20/ton, with soy oil down 19 points. Ahead Cotton Market News and Commentary -Cotton futures are showing 4 to 22 point gains in most contracts on Tuesday. The Cotlook A Index was up down 60 points on March 25 to 85.80 Wheat Market News and Commentary -Wheat futures are up 1 to 3 1/2 cents in the CBT contracts on expected sales to Egypt. KC and MPLS are steady to 2 1/2 cents lower. The average Ag Market Commentary -Corn futures are showing 1 to 2 cent losses at midday on Turnaround Tuesday. Trade estimates for this Friday’s Planting Intentions report are Cattle Market News and Commentary -Live cattle futures are steady to 30 cents higher in the front months, with deferred contracts lower. Feeder cattle futures are also mixed, with Full commentary... |
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