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GOOD AFTERNOON SEPTEMBER 23, 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  4982s @W4U Chart
 October  474'4 @W4Z Chart
 November  474'4 @W4Z Chart
 December  474'4 @W4Z Chart
 January  486'2 @W5H Chart

HARD RED WINTER WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 Sept  560'6 @KW4Z Chart
 December  565'0 @KW5H Chart

DARK NORTHERN SPRING WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 September  532'6 @MW4Z Chart
 December  549'6 @MW5H Chart

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

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

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

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

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

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

Price as of 09/23/14 09:24PM 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 (+20, -30c/.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
C4Z 325'2 -4'6
S4X 937'0 -2'0
W4Z 475'4 -0'6
O4Z 344'4 -3'6
Stocks
MSFT 46.5600 -0.5000
WMT 75.6000 -0.7100
XOM 96.030000 -0.510000
TWX 75.2700 -0.4000



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Our Market Comments
Wheat futures closed down 2.  Wheat continues to show very little signs of life, despite the small weekend sale of US SRW wheat to Egypt and slightly higher Russian wheat prices.  The USDA reported Winter Wheat planting at 25% complete compared to 21% planted last year and 22% in our 5-year average. There are some dry-conditions to the West that could certainly be a deeper concern moving forward, but the trade right now only seems to care about more acres going in the ground and at a bit faster pace than normal (both of which are bearish).

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
Dec 14 473'4 476'6 473'4 474'4 -1'4 476'0 09:13P Chart for @W4Z Options for @W4Z
Mar 15 486'2 488'6 486'0 486'2 -2'0 488'2 09:13P Chart for @W5H Options for @W5H
May 15 496'0 497'0 496'0 497'0 0'2 496'6 09:13P Chart for @W5K Options for @W5K
Jul 15 502'0 505'0 502'0 504'0 -0'6 504'6 09:13P Chart for @W5N Options for @W5N
Sep 15 517'0 517'0 517'0 517'0 -0'4 517'4 09:13P Chart for @W5U Options for @W5U
Dec 15 533'4 533'4 533'4 533'4 -1'0 534'4 09:13P Chart for @W5Z Options for @W5Z
Mar 16 544'0 546'2 542'6 546'2 -3'6 545'4s 09:04P Chart for @W6H Options for @W6H
May 16 572'0 -4'0 550'0s 06:50P Chart for @W6K Options for @W6K
Jul 16 550'0 -4'0 546'6s 09:04P Chart for @W6N Options for @W6N
Sep 16 553'6 -4'0 553'6s 07:00P Chart for @W6U Options for @W6U
Dec 16 634'4 -4'0 562'0s 01:30P Chart for @W6Z Options for @W6Z
Mar 17 563'2 -4'0 563'2s 01:30P Chart for @W7H Options for @W7H
May 17 571'6 -4'4 571'6s 01:30P Chart for @W7K Options for @W7K
Jul 17 543'2 -4'0 543'2s 01:30P Chart for @W7N Options for @W7N
@KW - HARD RED WINTER WHEAT - KCBT
Month Open High Low Last Change Close Time More
Dec 14 559'4 562'0 559'0 560'6 -1'2 562'0 09:13P Chart for @KW4Z Options for @KW4Z
Mar 15 564'0 566'0 564'0 565'0 -1'2 566'2 09:13P Chart for @KW5H Options for @KW5H
May 15 569'2 569'4 Chart for @KW5K Options for @KW5K
Jul 15 561'4 562'2 Chart for @KW5N Options for @KW5N
Sep 15 573'4 575'2 566'6 573'4 0'6 574'2s 09:08P Chart for @KW5U Options for @KW5U
Dec 15 592'4 592'4 582'6 588'0 -0'4 589'6s 07:03P Chart for @KW5Z Options for @KW5Z
Mar 16 597'6 599'2 597'4 599'2 1'2 600'0s 07:00P Chart for @KW6H Options for @KW6H
@MW - HARD RED SPRING WHEAT - MGE
Month Open High Low Last Change Close Time More
Dec 14 533'2 534'4 532'6 532'6 -1'6 534'4 09:13P Chart for @MW4Z Options for @MW4Z
Mar 15 549'6 549'6 549'6 549'6 0'0 549'6 09:06P Chart for @MW5H Options for @MW5H
May 15 560'0 560'0 559'6 559'6 -0'4 560'2 09:06P Chart for @MW5K Options for @MW5K
Jul 15 570'0 571'2 Chart for @MW5N Options for @MW5N
Sep 15 583'2 586'4 580'2 584'2 -1'6 582'4s 08:10P Chart for @MW5U Options for @MW5U
Dec 15 598'2 604'0 598'2 600'6 -1'6 600'0s 08:21P Chart for @MW5Z Options for @MW5Z
Mar 16 620'0 -2'0 610'0s 07:00P Chart for @MW6H Options for @MW6H
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Dec 14 325'4 325'4 325'0 325'2 -0'2 325'4 09:12P Chart for @C4Z Options for @C4Z
Mar 15 338'0 338'2 337'4 337'4 -0'6 338'2 09:12P Chart for @C5H Options for @C5H
May 15 346'6 346'6 346'2 346'2 -0'4 346'6 09:12P Chart for @C5K Options for @C5K
Jul 15 354'0 354'0 353'4 353'4 -0'4 354'0 09:12P Chart for @C5N Options for @C5N
Sep 15 361'6 361'6 361'4 361'4 0'0 361'4 09:12P Chart for @C5U Options for @C5U
Dec 15 372'4 372'4 371'4 371'6 -0'4 372'2 09:12P Chart for @C5Z Options for @C5Z
Mar 16 382'0 382'0 382'0 382'0 0'0 382'0 08:32P Chart for @C6H Options for @C6H
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Nov 14 935'0 939'0 934'2 936'2 0'0 936'2 09:13P Chart for @S4X Options for @S4X
Jan 15 943'0 946'2 941'6 943'2 -0'4 943'6 09:13P Chart for @S5F Options for @S5F
Mar 15 950'0 953'2 949'2 951'0 0'0 951'0 09:13P Chart for @S5H Options for @S5H
May 15 957'0 960'0 956'6 957'4 -0'4 958'0 09:13P Chart for @S5K Options for @S5K
Jul 15 962'2 965'4 962'2 963'2 -0'2 963'4 09:13P Chart for @S5N Options for @S5N
Aug 15 966'4 966'0 Chart for @S5Q Options for @S5Q
Sep 15 957'0 957'0 952'6 955'6 0'2 956'2s 09:13P Chart for @S5U Options for @S5U
@LE - LIVE CATTLE - CME
Month Open High Low Last Change Close Time More
Oct 14 155.100 155.275 155.025 155.050 - 0.400 155.450 09:07P Chart for @LE4V Options for @LE4V
Dec 14 158.375 158.650 158.250 158.375 - 0.350 158.725 09:12P Chart for @LE4Z Options for @LE4Z
Feb 15 159.550 159.825 159.550 159.625 - 0.275 159.900 09:12P Chart for @LE5G Options for @LE5G
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Dec 14 84.775 84.825 84.750 84.780 0.001 84.779 09:13P Chart for @DX4Z Options for @DX4Z
Mar 15 84.920 84.920 Chart for @DX5H Options for @DX5H
Jun 15 84.825 85.048 Chart for @DX5M Options for @DX5M
My Custom Markets
Symbol Open High Low Last Change Close Time More

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Rosalia, WA
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