Duane Disque or Brian Peiler Jon Sperl or Bryce Olson
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 7/13/09
|
|
SWW |
SRW |
DNS |
HRW |
Barley |
Corn |
| ||
|
Month |
Portland |
Chicago |
Portland |
Basis |
Portland |
Basis |
Portland |
Cash Px |
|
July |
5.53 |
|
7.16 |
1.05 U |
6.11 |
.50 U |
110 |
132 |
|
August |
5.57 |
|
7.16 |
1.05 U |
6.11 |
.50 U |
110 |
|
|
|
September |
5.63/ 67 |
5.33 CUW |
7.16 |
1.05 U |
6.16 |
.65 U |
120 |
|
|
|
October |
5.70 |
|
7.16 |
.95 Z |
6.27 |
.48 Z |
120 |
|
|
November |
5.75/ 78 |
|
7.21 |
1.00 Z |
6.33 |
.53 Z |
|
|
|
December |
5.80 |
5.58 CZW |
7.26 |
1.05 Z |
6.38 |
.58 Z |
|
2009/ 134 |
|
January |
5.85/ 87 |
|
|
|
|
|
|
2010/ 147 |
|
N/C 2010 |
|
6.09 CUW |
6.80 |
.30 U |
6.46 |
.20 CUW |
|
2011/ 157 |
|
|
N/C 2011 |
|
6.46 CNW |
|
|
|
|
|
|
|
|
**Club premium: Buyers Call! |
Prem/Disc |
+10/ -15 |
Prem/ Disc |
+15/ -20 |
Canola: |
.14/ lb |
| ||
***NOTE: Corn values vary depending on delivery location PLEASE call for updates.
Crude is lower, $$ is up a touch. Futures all started lower, but wheat futures have been struck by lightening and are up 20! Row crops are following a more predictable path and are trading lower. According to the USDA, the US will have the largest wheat c/o since 2002, and we are up .20 this morning?go figger. Weather man says that corn will have excellent pollination weather. Winter wheat harvest is expected to be 65-70% complete by this afternoons crop progress report. The export shipment report showed 38.8 myn bu of corn shipped vs. 48.2 myn needed to maintain USDA. On wheat they showed 9.6 myn bu vs. 18.3 myn bu required to hit USDA mark. The Baltic Dry Index is sliding once again, indicating reduced world ocean freight demand. The COT report was interesting, but due to timing did not show all the results the market was expecting. Specs were short 250 myn bu of Chicago (increasing their short position by 60 myn bu, while the funds actually increased their holding of Chicago by another 102 myn bu (they are 812 myn bu long, or over 2 times this years SRW crop production estimates). On corn they showed the specs still clinging to 280 myn bu of corn, while the funds own 1.55 byn bu. All in all it should be a very interesting close.
Portland exporters seem to be feeling the first pangs of harvest, and are quick to drop cash bids on days when there is any wheat movement. It will be interesting to see if today?s futures prices influence the cash prices at all. The Portland market acts extremely thin.
Russia says they will form a ?United Grain? company to be like a ?Grain OPEC? by CIS countries as a way to perhaps add some leverage to the market. Kazakhstan Ag minister says that they will focus on improving wheat quality in an attempt to become more competitive. Meanwhile the G-8 has offered to spend $15 byn to help promote sustainable ag in poor countries. Egypt has resolved their grain issues with Russia/ France and will set up a program to inspect wheat before shipment, as is done in the US. They will also take steps to clean up ?domestic? traders that have taken advantage of lax standards. Report from Argie is that 65-70% of all planted acres will be beans. Not what their gov?t wants, but weather is dictating this, and beans are the most drought tolerant crop they can plant. November bean futures are below $9 right now. Aussie growers are adapting well to new ?free market? system adding storage and improving marketing skills. Under old AWB system there weren?t really any marketing decisions?simply raise the crop and give it to them to market. Growers are adding storage and working to better understand the world markets?particularly in WA.
***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***
