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Morrow County Grain Growers |
Pendleton Grain Growers |
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Duane Disque Or John Ripple |
Jon Sperl |
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1-800-452-7396 or 541-989-8221 |
1-800-422-7611 or 541-276-7611 |
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or Dan Steiner 481-6614 (work), 571-3798 (cell) graingrowers@centurytel.net |
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GOOD MORNING!! |
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Below are the best indications available as of: |
9:00 |
3/6/08 |
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SWW |
SRW |
DNS |
HRW |
Barley |
Corn | |||||||||||
|
Month |
Portland |
Chicago |
Portland |
Basis |
Portland |
Basis |
Portland |
Cash Px |
Basis | |||||||
|
March |
11 |
16.54 |
2.75? |
13.22 |
1.50 |
222 |
217 |
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April |
11 |
16.79 |
3.00 |
13.50 |
1.78 |
224 |
217 |
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May |
11 |
11.10 CKW |
16.79 |
3.00 |
13.50 |
1.78 |
226 |
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June |
14.40 |
2.00 |
12.77 |
1.50 |
220 |
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July |
9.85 |
10.70 CNW |
12.85 |
.65 N |
11.77 |
.60 |
220 |
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August |
9.75 |
12.40 |
1.00 U |
11.65 |
.50 |
222 |
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OND |
. 04/ mo |
215 |
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N/C 2009 |
8 |
-2.00 CNW |
10.50 |
Option px |
10.10 |
Option px |
206.40 |
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LDP's |
-8.71 |
-12.57 |
-8.35 |
-2.99 |
-3.02 |
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***Club premium: .00/ bu. |
-.02/ 1/4 |
-.60/ 1/2 |
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***
NOTE: Corn bids vary depending on point of delivery. Please Call for Updates. Japan completed their tender last night. Sounds like UH covered the whole sale, and they either had the wheat positioned or are betting on the come. The sales has brought much more interest from other locations like Yemen. There is still hope that more SWW sales will surface especially with the exporters having sell orders in hand. Sales reports for the week showed Corn with 25.5 myn bu vs. a low estimate of 27.5 (market will see this as bearish). Wheat sales remained strong (last week mostly due to Iraq) with 15.9 myn bu. Vs. a low estimate 22 myn bu. The wheat sales number is still considered strong, especially in light of the tight stocks.JBS Swift intends to buyout Smithfield and National Beef, which would make them the #1 US beef processor and feeder, with 30% of the total US kill capacity. This is the type of thing that the DOJ would definitely want to be involved in. They may not stop the purchase, but may require them to divest of some assets in certain locations to prevent monopolization. FAPRI (another acronym…Food and Ag Policy Reasearch Institute), released their estimates for major crop acreages. They see corn acres a full 1.8 myn acres higher than the USDA, while they have overall wheat acres down about 3 myn acres vs. USDA.
Pakistan announced that they will likely import 2 myn mt of wheat this year to help build reserves. Since this is to build reserves, it would most likely be something done in smaller increments through the year. China is forecasting corn production down 9% (based on reduced yields estimates) and will continue to curb corn exports. Also last night SK bought 15.2 myn bu of corn last night.
***Didja Know: North Dakota was #1 wheat producer last year (1st time they beat Kansas since 1996). Kansas lost a ton of production with late frosts/ snows then floods. North Dakota was also #1 in the nation in Barley, Oats, Canola, sunflowers, flax, pinto beans, navy beans, peas, lentils and honey. They were #3 in sugar beets and #4 in spuds….The word Listen has the same letters as the word Silent…the Chinese are credited with the first wheelbarrow….
***All bids are subject to change, please call for CONFIRMATION of prices. All information in this letter is from sources deemed reliable, and is for informational purposes only***
