850 N 4TH AVE. * WALLA WALLA, WA  99362
TELEPHONE (509) 525-6510
FAX (509) 529-6050

Office Hours: 7:30am to 12:00pm and 1:00pm to 4:30pm

 

Phone: 800-994-4290 Saturday, February 28, 2015
 
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Local Cash Bids
 
  February March April July/Aug 15
Walla Walla SOFT WHITE WHEAT Cash Price
  Chart Chart Chart Chart
BARLEY Cash Price      
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14% DNS Cash Price
  Chart Chart Chart Chart
11.5% HRW Cash Price
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CLUB PREMIUM Cash Price      
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CANOLA Cash Price      
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Price as of 02/28/15 08:54PM CST.
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Bid Notes

Prices Updated Friday 10:00 am

BIDS ARE SUBJECT TO CHANGE AT ANY TIME

2015 Winter Wheat RP Base Price = $6.20/bu. Portland

2015 Spring Wheat RP Base Price = $6.55/bu. Portland

Soft White vs. SRW May Futures Basis = $1.60/bu.

New Crop Soft White vs. SRW Sep. Futures Basis = $1.20/bu

14% DNS Scales:  +.15/-.25 ea. 1/4 from 14%

11.5% HRW Scales:  +.00/-.04 ea. 1/2% from 11.5%

2014/15 Barge and Rail/Truck fuel surcharges have been capped at 30% to our members. 

Barge Fuel Surcharge:
February 15% = $.033/bu.

Country Elevator Fuel Surcharge:
February 17% = $.02/bu.


Futures
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Mar 15 507'0 523'0 502'0 516'4 14'2 517'4s 02/27 Chart for @W5H Options for @W5H
May 15 501'0 517'6 498'2 511'6 12'4 513'0s 02/27 Chart for @W5K Options for @W5K
Jul 15 503'6 521'4 502'2 515'6 12'0 516'6s 02/27 Chart for @W5N Options for @W5N
Sep 15 512'4 529'6 510'6 524'2 11'6 525'0s 02/27 Chart for @W5U Options for @W5U
Dec 15 528'2 543'0 525'0 537'6 11'4 538'4s 02/27 Chart for @W5Z Options for @W5Z
@KW - HARD RED WINTER WHEAT - KCBT
Month Open High Low Last Change Close Time More
Mar 15 527'6 540'2 525'6 537'2 7'2 534'4s 02/27 Chart for @KW5H Options for @KW5H
May 15 533'4 547'2 530'2 538'0 7'0 539'4s 02/27 Chart for @KW5K Options for @KW5K
Jul 15 538'2 552'4 536'0 545'2 7'6 546'0s 02/27 Chart for @KW5N Options for @KW5N
Sep 15 549'4 565'0 549'4 558'2 7'6 558'6s 02/27 Chart for @KW5U Options for @KW5U
@MW - HARD RED SPRING WHEAT - MGE
Month Open High Low Last Change Close Time More
Mar 15 546'2 557'0 546'0 555'2 4'6 556'0s 02/27 Chart for @MW5H Options for @MW5H
May 15 557'4 572'4 553'4 563'0 9'6 566'4s 02/27 Chart for @MW5K Options for @MW5K
Jul 15 564'0 578'2 560'2 568'6 9'0 572'4s 02/27 Chart for @MW5N Options for @MW5N
Sep 15 571'4 583'6 567'6 578'2 9'0 579'2s 02/27 Chart for @MW5U Options for @MW5U
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Mar 15 379'0 387'2 377'0 383'0 4'4 384'4s 02/27 Chart for @C5H Options for @C5H
May 15 387'4 396'2 385'4 391'4 4'6 393'2s 02/27 Chart for @C5K Options for @C5K
Jul 15 395'6 404'0 394'0 400'0 4'6 401'2s 02/27 Chart for @C5N Options for @C5N
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Mar 15 1023'0 1035'4 1020'0 1028'0 6'6 1030'6s 02/27 Chart for @S5H Options for @S5H
May 15 1026'0 1038'0 1022'0 1030'4 5'2 1031'6s 02/27 Chart for @S5K Options for @S5K
Jul 15 1029'6 1041'0 1026'0 1033'2 4'6 1034'6s 02/27 Chart for @S5N Options for @S5N
My Custom Markets
Symbol Open High Low Last Change Close Time More

Local Conditions
Walla Walla, WA
Chg Zip Code: 
Temp: 39oF Feels Like: 33oF
Humid: 53% Dew Pt: 23oF
Barom: 30.16 Wind Dir: NNE
Cond: N/A Wind Spd: 8 mph
Sunrise: 6:31 Sunset: 5:39
As reported at WALLA WALLA, WA at 6:00 PM
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Local Forecast
Walla Walla, WA
Chg Zip:

Sunday

Monday

Tuesday

Wednesday

Thursday
High: 45°F
Low: 26°F
Precip: 0%
High: 48°F
Low: 31°F
Precip: 20%
High: 38°F
Low: 26°F
Precip: 0%
High: 45°F
Low: 24°F
Precip: 0%
High: 53°F
Low: 30°F
Precip: 0%
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Local Radar
Walla Walla, WA
Chg Zip Code: 
 
Radar
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Announcements

Patronage: At the NWGG January board meeting, the board of directors voted unanimously to pay off the balance of the 2009 non-qualified patronage reserve of $590,000 and the balance of the 2009 qualified patronage reserve of $702,000. The non-qualified and qualified patronage payments will result in $1,292,000 of reserved equity payments being returned to our members. Office staff are currently working on preparing these checks and hope to have them mailed out by the first week in March.  Once these payments have been made, NWGG will have our reserved patronage equity paid up to 2010.  As mentioned at the annual meeting, we are continuing to have a profitable year and barring unforeseen events, hope to show an April 30th year-end net income over $3.5 million dollars.  




NWGG Wheat Buying Hours

SWW 8:30am -11am and 2:30pm to 4:30pm (no markets Friday afternoon)
HRW & DNS 8:30am to 11am (no afternoon markets)

 


Daily Commentary

2/27/15 - Wheat futures are rallying today although there wasn't a news item that sparked it.  Contract lows in Chicago wheat held yesterday on early declines and it seems that it was a positive enough sign to generate some short covering today.  We'll see how it closes but it looks good for the time being.


The Weekly Top Five
These are the 5 biggest issues that NWGG feel are affecting today's markets and items to watch for as we progress through the year.     
1. 2/4/15 Speculative funds have once again moved into a short position in Chicago wheat futures which has driven the market down $1.70 from it's highs in early December.  
2. 1/22/15 White wheat ending stocks for this year are projected at 33 million bushels which is extremely tight and should support prices going into the spring in spite of weakness in Chicago wheat futures.
3. 1/22/15 Russia has imposed a tariff on wheat exports starting Feb. 1.  Their supplies are not exactly tight and they are instead using this as a way to keep prices down internally in order to combat inflation caused by their currency losing so much value recently.
4. 1/22/15 Export business for soft white wheat has been very good relative to what is needed to meet the USDA's projected totals for the year and will actually have to slow down in order to not draw down ending stocks any further.

5. 2/4/15 Winter wheat planted acreage is down 2 million acres in the U.S. and below expectations.  Ultimately the weather will be the biggest determining factor in this year's production but the starting point for the coming year is lower than last year.

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