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GOOD MORNING SEPTEMBER 02, 2014



Co-Ag took the ALS Ice Bucket Challenge.
Click here to watch it



Harvest 2014
2014 Harvest Commodity Delivery Locations

2014 Elevator Differentials
Canola Information

 Planning on delivering to MGT or MGT

Central Ferry???

Be sure to have a Bill of Lading for

every load!

We will provide them for you, call Derek at
(509)523-3511

 

 
 

 
 



 



Co-Ag Farm

Recently there have been many questions about wether or not an HTA contract is feasible right now....so let's find out.
Starting today, I sold 1 (5000bu) September 2014 Chicago (ZWU14) futures contract at 6.14, cash today was at 6.85.  That gives me a starting basis point of +71.  Today's nearby basis is +1.18.  If the Septemeber basis runs to anything close to that number it will be great, and will add to what would have been a 6.85 cash sale.   However, if the basis goes the other way it will be taking away from what would have been a 6.85 cash sale, and if it goes negative it will really hurt!

I'll also do the same with a December 2014 Chicago contract (ZWZ14) sold at 6.29, cash at 6.95 with a +66 starting basis to see is the later months fare any better or turn out worse. 

*UPDATE*
Today I locked the basis on the DEC HTA contract at 1.53 positive basis, giving me a cash price of 7.82 far surpassing what I could have sold the cash for when I started the hedge.  So in this case, yes the HTA contract worked again, even while starting at a positive basis.  Would I do another today?  No.  Today's basis levels are much to high in my opinion with much more downside risk than upside potential. 


 I'll update weekly to track how this HTA contract is working out.

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
 September  543'4s @W4U Chart
 October  555'0s @W4Z Chart
 November  555'0s @W4Z Chart
 December  555'0s @W4Z Chart
 January  573'4s @W5H Chart

HARD RED WINTER WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 Sept  632'4s @KW4Z Chart
 December  640'4s @KW5H Chart

DARK NORTHERN SPRING WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 September  622'6s @MW4Z Chart
 December  635'4s @MW5H Chart

BARLEY
  ROSALIA
Futures Price Futures Month Basis Cash Price
 September  NONE Chart
 December  NONE Chart
 January  NONE Chart

CANOLA
  ROSALIA
Futures Price Futures Month Basis Cash Price
 September  NONE Chart
 October  NONE Chart
 November  NONE Chart

Price as of 09/02/14 04:11PM CDT.
Month Symbols
Click to view more Cash Bids

FSC & Discounts

Fuel Surcharges       
Wheat               Barley

 

$.040 per bu   $1.45 per ton

 


Protein Discount Scales
14.0% DNS (+8 -15c/.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.

 


My Market Watch
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Commodities
C4U 355'0 -3'2
S4U 1086'0 7'6
W4U 551'0 -6'6
O4U 350'0 7'6
Stocks
MSFT 45.0900 -0.3400
WMT 75.7500 0.2500
XOM 98.490000 -0.970000
TWX 77.3200 0.2900



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Our Market Comments
Wheat futures are currently down 10.  Wheat bulls continue to keep an eye on Ukraine, especially as talks begin to circulate that Russian rebels attacked the Ukraine navy this past weekend in the "Sea of Asov," an area where a substantial amount of Black Se wheat is loaded.  Theres also a little buzz in the air regard the dry conditions starting to take hold in parts of Australia.  This isn't a major concern as of yet, but its certainly on the radar screen and worth keeping an eye on.

Pea & Lentil bids -  05/06/14 - Green/Yellow Peas and Pardina's are slightly up.  Regular Lentils are limited.  PL480 tenders - pricing continues on the low end.

Futures
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Sep 14 550'2 553'0 538'6 542'4 -6'6 543'4s 02:30P Chart for @W4U Options for @W4U
Dec 14 562'6 566'0 550'6 555'0 -8'4 555'0s 03:49P Chart for @W4Z Options for @W4Z
Mar 15 581'0 584'0 569'4 573'6 -9'0 573'4s 03:45P Chart for @W5H Options for @W5H
May 15 589'4 593'6 580'0 584'2 -8'2 584'0s 03:28P Chart for @W5K Options for @W5K
Jul 15 597'0 601'0 587'6 590'4 -8'2 591'0s 01:30P Chart for @W5N Options for @W5N
Sep 15 609'6 610'4 598'4 600'0 -7'2 600'6s 01:30P Chart for @W5U Options for @W5U
Dec 15 623'2 625'0 613'2 616'2 -7'2 616'0s 01:30P Chart for @W5Z Options for @W5Z
Mar 16 624'2 624'2 624'2 624'2 -7'2 625'2s 01:30P Chart for @W6H Options for @W6H
May 16 615'6 -7'4 624'4s 01:30P Chart for @W6K Options for @W6K
Jul 16 619'6 -7'2 619'6s 01:30P Chart for @W6N Options for @W6N
Sep 16 626'6 -7'2 626'6s 01:30P Chart for @W6U Options for @W6U
Dec 16 634'4 -7'2 633'6s 01:30P Chart for @W6Z Options for @W6Z
Mar 17 633'6 -7'2 633'6s 01:30P Chart for @W7H Options for @W7H
May 17 646'2 -7'2 646'2s 01:30P Chart for @W7K Options for @W7K
Jul 17 613'6 -7'2 613'6s 01:30P Chart for @W7N Options for @W7N
@KW - HARD RED WINTER WHEAT - KCBT
Month Open High Low Last Change Close Time More
Sep 14 626'2 628'4 614'0 615'2 -8'6 617'4s 03:49P Chart for @KW4U Options for @KW4U
Dec 14 641'6 642'6 628'2 632'4 -10'2 632'4s 03:20P Chart for @KW4Z Options for @KW4Z
Mar 15 650'0 650'0 636'4 641'4 -11'0 640'4s 02:57P Chart for @KW5H Options for @KW5H
May 15 649'6 650'2 640'6 646'0 -10'6 644'6s 01:30P Chart for @KW5K Options for @KW5K
Jul 15 640'4 641'0 632'2 635'2 -11'0 635'0s 01:30P Chart for @KW5N Options for @KW5N
Sep 15 648'4 648'4 645'0 645'0 -11'0 646'0s 01:30P Chart for @KW5U Options for @KW5U
Dec 15 670'6 -10'6 661'6s 01:30P Chart for @KW5Z Options for @KW5Z
@MW - HARD RED SPRING WHEAT - MGE
Month Open High Low Last Change Close Time More
Sep 14 620'2 620'2 616'0 617'6 3'6 618'6s 01:31P Chart for @MW4U Options for @MW4U
Dec 14 628'0 628'6 617'4 622'0 -7'0 622'6s 03:23P Chart for @MW4Z Options for @MW4Z
Mar 15 641'0 643'4 630'2 635'6 -7'4 635'4s 01:31P Chart for @MW5H Options for @MW5H
May 15 641'6 646'0 640'0 644'6 -7'4 645'2s 01:31P Chart for @MW5K Options for @MW5K
Jul 15 655'2 655'2 646'4 652'0 -7'4 652'4s 03:54P Chart for @MW5N Options for @MW5N
Sep 15 657'0 658'0 653'2 657'4 -7'6 659'2s 01:31P Chart for @MW5U Options for @MW5U
Dec 15 670'0 670'0 670'0 670'0 -7'2 672'0s 02:50P Chart for @MW5Z Options for @MW5Z
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Sep 14 357'4 360'6 355'0 355'4 -3'2 355'6s 03:23P Chart for @C4U Options for @C4U
Dec 14 363'2 367'4 362'2 363'6 -1'0 363'6s 03:59P Chart for @C4Z Options for @C4Z
Mar 15 376'0 380'2 375'2 376'2 -1'2 376'4s 02:40P Chart for @C5H Options for @C5H
May 15 384'4 388'2 383'2 384'6 -1'2 384'6s 03:28P Chart for @C5K Options for @C5K
Jul 15 391'2 395'0 390'2 391'4 -1'2 391'4s 02:56P Chart for @C5N Options for @C5N
Sep 15 398'0 401'2 397'0 398'4 -1'0 398'2s 01:30P Chart for @C5U Options for @C5U
Dec 15 404'2 408'4 404'0 405'4 -0'2 405'6s 03:58P Chart for @C5Z Options for @C5Z
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Sep 14 1090'2 1108'0 1085'0 1097'4 7'6 1097'2s 03:57P Chart for @S4U Options for @S4U
Nov 14 1020'6 1038'0 1020'2 1032'2 7'6 1032'0s 03:53P Chart for @S4X Options for @S4X
Jan 15 1028'6 1045'4 1028'4 1040'2 7'2 1039'6s 03:18P Chart for @S5F Options for @S5F
Mar 15 1037'0 1052'6 1037'0 1047'6 6'4 1047'0s 03:57P Chart for @S5H Options for @S5H
May 15 1044'4 1057'6 1042'6 1053'6 6'4 1052'6s 01:30P Chart for @S5K Options for @S5K
Jul 15 1048'0 1062'6 1048'0 1058'2 7'2 1057'4s 01:30P Chart for @S5N Options for @S5N
Aug 15 1055'0 1062'0 1055'0 1062'0 7'0 1056'6s 01:30P Chart for @S5Q Options for @S5Q
@LE - LIVE CATTLE - CME
Month Open High Low Last Change Close Time More
Oct 14 151.850 154.050 151.750 152.875 1.000 152.425s 04:00P Chart for @LE4V Options for @LE4V
Dec 14 154.175 156.425 154.175 155.800 1.575 155.525s 04:00P Chart for @LE4Z Options for @LE4Z
Feb 15 155.000 156.900 155.000 156.275 1.450 156.050s 04:00P Chart for @LE5G Options for @LE5G
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Sep 14 82.780 83.060 82.780 82.985 0.227 83.010s 03:59P Chart for @DX4U Options for @DX4U
Dec 14 82.905 83.185 82.900 83.105 0.232 83.123s 03:59P Chart for @DX4Z Options for @DX4Z
Mar 15 83.045 83.265 83.045 83.250 0.242 83.248s 03:59P Chart for @DX5H Options for @DX5H
My Custom Markets
Symbol Open High Low Last Change Close Time More

DTN Ag Headline News
Export Inspections Neutral
Pork Executive to Lead NCGA
Brazil Soy Exports Fall
The Market's Fine Print
China Battles Cotton Reserves
Klinefelter: By the Numbers
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USDA Readies Dairy Program
Rainy Days and Thursdays

Headline News
Ukraine: Russia Forces in Major Cities 09/02 06:17
Poll Finds Rising Support for Hamas 09/02 06:22
Obama: Higher Wages Will Renew Economy 09/02 06:29
Clashes in Libya Kill 31 09/02 06:18
Syrian Rebels Issue Captive Demands 09/02 06:23
Iran Unveils New Surface-to-Air Missile09/02 06:30
Anti-China Group Planned Manila Attacks09/02 06:19
US Stocks End Slightly Lower Tuesday 09/02 15:47

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Rosalia, WA
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Rosalia, WA
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