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GOOD MORNING FEBRUARY 27, 2015






MONSANTO PAYOUT

Monsanto Company has agreed to a $2.375 million settlement with soft white wheat farmers in Idaho, Oregon, and Washington to resolve a number of lawsuits related to the May 2013 discovery of genetically-modified wheat on a farm in Eastern Oregon and subsequent temporary limits on certain exports of soft white wheat. Under the settlement, Monsanto has agreed to pay $2.125 million into a settlement fund to compensate eligible farmers who sold or priced for sale between May 30, 2013 and November 30, 2013 soft white wheat farmed in Idaho, Oregon or Washington. Monsanto also will pay Washington, Oregon and Idaho wheat growers associations an additional $250,000.

To share in the settlement fund, you must complete and submit a Claim Form. If you do not file a Claim Form, you will not share in the settlement fund and you will not release your claims against Monsanto Company.
www.swwsettlement.com

 
 

 
 



 



Co-Ag Farm

2/20/15

The main word dominating the wheat markets, exports. Combined with strong US dollar, cheap world wheat, and the slow down at west coast ports the US is sitting on a large pile of domestic wheat. With today’s weekly export reports coming out this morning, we saw the March contract drop 18 and the May contract drop 13. Not a lot to get excited about, Egypt backing out of a tender early this week and buying French and Romania wheat was a blow to the markets, especially considering the Egyptians had 100 million in US export credit to use. But I am a glass is half full guy, and looking forward to March, exports in the US have increased considerably. Hopefully we can repeat the same trend this year, I also think we will start seeing more and more winterkill reports hit the market as we start to get into spring work. Again, I expect to see some rallies to price old crop and new crop coming this spring. The Russia/Ukraine episode is still very much alive, especially with the comments Putin made this week in the terms of Russia’s military strength. We still have a long way off till combines are hitting the fields and the crop is actually in the bins, so mother nature is still in the game. The issue concerning the west coast ports should be coming to an end soon, Portland’s biggest customer is claiming and has started to pull ALL business away. On the technical side of market, the funds are 20,000+K short and if we see a fundamental rally we could see some quick buying which could help us get that rally we have been looking for.

Concerning pricing grain, I am still in patience mode. With a NC basis (Cash price-futures price), still hovering around the $1.20 range, I would recommend not place a HTA. But we are starting to get into the range of a profitable basis contract. I am looking for a range of $1.30 to $1.50 at this moment, will depend on how the market is reacting. I am playing the cash market right now, and if we can get up to the 7.00 NC price I will price another 20% of crop, I still plan on having 40-50% of crop priced by end of spring/early summer if profitable levels present themselves.



Quick Fact: A bushel of wheat makes about 42 pounds of pasta or 210 servings of spaghetti

Take a look at the Co-Ag Farms J.V. Link to find out more.
 


Local Cash Bids
 
SOFT WHITE WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 February  517'4s @W5H Chart
 March  513'0s @W5K Chart
 April  513'0s @W5K Chart
 May  516'6s @W5N Chart
 August  525'0s @W5U Chart

HARD RED WINTER WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 February  539'4s @KW5K Chart
 March  539'4s @KW5K Chart
 April  539'4s @KW5K Chart
 May  539'4s @KW5K Chart
 August  558'6s @KW5U Chart

DARK NORTHERN SPRING WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 February  566'4s @MW5K Chart
 March  566'4s @MW5K Chart
 April  566'4s @MW5K Chart
 May  566'4s @MW5K Chart
 August  579'2s @MW5U Chart

BARLEY
  ROSALIA
Futures Price Futures Month Basis Cash Price
 February  NONE Chart
 March  NONE Chart
 April  NONE Chart
 May  NONE Chart
 August  NONE Chart

PARDINA
  ROSALIA
Futures Price Futures Month Basis Cash Price
 February  NONE Chart

BREWER/MERRITT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 February  NONE Chart

GREEN PEAS
  ROSALIA
Futures Price Futures Month Basis Cash Price
 February  NONE Chart

YELLOW PEAS
  ROSALIA
Futures Price Futures Month Basis Cash Price
 February  NONE Chart

CANOLA
  ROSALIA
Futures Price Futures Month Basis Cash Price
 February  NONE Chart
 March  NONE Chart

Price as of 02/28/15 04:56PM CST.
Month Symbols
Click to view more Cash Bids

FSC & Discounts

Fuel Surcharges       
Wheat               Barley

 

$.026 per bu   $.90 per ton

 


Protein Discount Scales
14.0% DNS (+15, -25c/.25% from 14% to 15.5%)
11.5% HRW (+0c, -4c/.5% from 11.5% to 13%)

Wheat & Barley prices are quoted FOB Portland. Elevator differentials and storage charges apply.

Pea, Lentil, and Oilseed prices are grower prices.  Receiving and storage charges apply.

*minus storage & $4.50 handle for net grower price(oats only).  Extra freight @ Chewelah $8/tn, K Falls $10/tn


Canola price is FOB Co-Ag elevator.

 


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C5H 383'0 4'4
S5H 1029'0 6'6
W5H 499'0 14'2
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Our Market Comments
Wheat futures currently up 9.  Wheat prices are mostly higher this morning, with weather and deliveries moving prices as first notice on the March contract is today. But with the funds 41K short, and no fundmental support in sight we are setting up for a down trend next week. Russian/Ukraine cease fire is holding, even working out a deal to start the flow of gas again. Wheat export numbers are still disappointing, as the fear of the US sitting on a very large carry out at harvest could be a reality.

Pea & Lentil bids -  Pulse markets are steady.  Current prices are firm.  We encourage and accept offers at any time.

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
Mar 16 535'0 551'0 535'0 548'6 11'2 548'6s 02/27 Chart for @W6H Options for @W6H
May 16 545'6 545'6 545'6 545'6 11'4 554'4s 02/27 Chart for @W6K Options for @W6K
Jul 16 546'0 555'4 546'0 555'4 10'6 554'4s 02/27 Chart for @W6N Options for @W6N
Sep 16 541'0 10'6 560'6s 02/27 Chart for @W6U Options for @W6U
Dec 16 569'0 569'0 569'0 569'0 10'6 573'4s 02/27 Chart for @W6Z Options for @W6Z
Mar 17 615'0 10'6 577'6s 02/27 Chart for @W7H Options for @W7H
May 17 629'4 10'6 576'2s 02/27 Chart for @W7K Options for @W7K
Jul 17 619'0 10'6 556'2s 02/27 Chart for @W7N Options for @W7N
@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
Dec 15 567'4 581'0 564'4 574'2 8'0 574'4s 02/27 Chart for @KW5Z Options for @KW5Z
Mar 16 578'4 590'0 578'4 589'0 8'2 587'0s 02/27 Chart for @KW6H Options for @KW6H
May 16 583'4 597'4 583'4 597'4 9'6 593'4s 02/27 Chart for @KW6K Options for @KW6K
@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
Dec 15 583'0 593'2 580'0 588'6 8'0 590'2s 02/27 Chart for @MW5Z Options for @MW5Z
Mar 16 597'0 601'6 596'2 601'4 5'2 600'4s 02/27 Chart for @MW6H Options for @MW6H
May 16 610'0 610'0 610'0 610'0 5'2 607'2s 02/27 Chart for @MW6K Options for @MW6K
@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
Sep 15 403'4 410'6 401'2 406'6 4'4 408'2s 02/27 Chart for @C5U Options for @C5U
Dec 15 413'0 419'4 411'0 416'0 3'6 417'4s 02/27 Chart for @C5Z Options for @C5Z
Mar 16 422'0 428'0 420'2 424'6 3'4 426'0s 02/27 Chart for @C6H Options for @C6H
May 16 427'4 433'6 426'2 431'2 3'6 432'2s 02/27 Chart for @C6K Options for @C6K
@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
Aug 15 1024'2 1037'2 1023'6 1029'4 4'0 1031'0s 02/27 Chart for @S5Q Options for @S5Q
Sep 15 1010'2 1017'2 1005'0 1010'6 1'6 1012'0s 02/27 Chart for @S5U Options for @S5U
Nov 15 996'6 1004'0 990'2 996'2 0'0 997'4s 02/27 Chart for @S5X Options for @S5X
Jan 16 1000'2 1008'0 994'6 1000'0 -1'0 1001'4s 02/27 Chart for @S6F Options for @S6F
@LE - LIVE CATTLE - CME
Month Open High Low Last Change Close Time More
Feb 15 161.000 162.500 157.500 160.000 - 3.125 158.000s 02/27 Chart for @LE5G Options for @LE5G
Apr 15 149.850 152.150 149.325 152.100 1.900 151.700s 02/27 Chart for @LE5J Options for @LE5J
Jun 15 142.850 144.450 141.800 144.075 0.900 143.850s 02/27 Chart for @LE5M Options for @LE5M
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Mar 15 95.230 95.440 94.855 95.295 -0.015 95.321s 02/27 Chart for @DX5H Options for @DX5H
Jun 15 95.650 95.855 95.320 95.715 -0.035 95.731s 02/27 Chart for @DX5M Options for @DX5M
Sep 15 96.350 96.350 95.810 96.330 0.090 96.211s 02/27 Chart for @DX5U Options for @DX5U
My Custom Markets
Symbol Open High Low Last Change Close Time More

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Rosalia, WA
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Rosalia, WA
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