Morrow County Grain Growers Pendleton Grain Growers
Duane Disque or John Ripple Jon Sperl
1-800-452-7396 or 541-989-8221 1-800-422-7611 or 541-276-7611
or Dan Steiner 481-6614 (office), 571-3798 (cell) graingrowers@centurytel.net
GOOD MORNING!!!
Below are the best indicated market bids as of: 9:00 on 12/31/07
|
|
SWW |
SRW |
DNS |
HRW |
Barley |
Corn | |||
|
Month |
Portland |
Chicago |
Portland |
Basis |
Portland |
Basis |
Portland |
Cash Px |
Basis |
|
January |
13 |
|
11.78 |
1.37 |
10.18 |
1.04 |
Please |
180.35 |
|
|
February |
13.05 |
|
11.86 |
1.45 |
10.23 |
1.10 |
Call |
|
|
|
March |
13.10 |
8.97 CHW |
11.91 |
1.50 |
10.33 |
1.20 |
For |
|
|
|
April |
13.12 |
|
12.00 |
1.50 |
|
1.25 |
Current |
|
|
|
May |
13.12 |
9.03 CKW |
|
|
|
|
Bids |
|
|
JULY |
8.00 |
7.75 CNW |
9.92 |
.60 |
8.57 |
.61 |
|
|
|
|
AUGUST |
7.90 |
7.77 CUW |
9.36 |
.90 |
8.58 |
.50 |
|
|
|
|
O N D ‘08 |
.04/ bu |
8.03 CZW |
|
|
|
|
|
180.35 |
|
|
LDP's |
-9.73 |
|
-7.04 |
|
-6.34 |
|
-3.33 |
-2.10 |
|
|
***Club premium: .00/ bu. |
|
-2/ 1/4 |
-7/ ½ |
|
|
|
| ||
***NOTE: Corn values vary depending on delivery location PLEASE call for updates.
Once again markets are thinly traded this morning on a short trading day. News is sparse, so are traders. Wheat futures are up 5-8, corn is up a couple, beans are down 15. Doesn’t mean a lot either way since the trade is SOOO light, the few that are trading only represent the market today.
Wednesday will be a very busy day, both in the grain pits and in the grain offices as folks will be lining up to pick up settlements. This has been an incredible year:
*Battle for corn acres started in January, and was pretty well over by the First of February.
*USDA’s corn survey showed HUGE acres coming in corn. As it turned out, we needed everyone of them. Even with an increase of 2.4 byn bu corn production, our carryouts ONLY increased by about 400 myn bu.
*About 10 months ago, Wheat was actually trading a DISCOUNT to corn. A series of weather problems all across the globe saw the S&D’s shift so dramatically that 10 months later SWW is trading at $13.
*Depending on how the battle for acres gets resolved this spring, this time next year, we could EASILY see wheat trading at a discount to corn…depending on what growers do with acres, and how the weather performs.
***FWIW: The Farmers Almanac says the ECB will be cool/ dry (1-2 ° cooler than normal).
The WCB, down the center of the US and all the southern plains will be hot/ wet (good for corn, not so much for wheat. In fact could really hurt wheat quality depending on when/ how wet it gets). The PNW is supposed to …. Yep Hot and DRY.
