| SWW | ||||||
|---|---|---|---|---|---|---|
| Delivery Start | Notes | Basis | Cash Price | Delivery End | Basis Month | Futures Price |
| Club Wheat | ||||||
|---|---|---|---|---|---|---|
| Delivery Start | Notes | Basis | Cash Price | Delivery End | Basis Month | Futures Price |
| HRW 11.5% | ||||||
|---|---|---|---|---|---|---|
| Delivery Start | Notes | Basis | Cash Price | Delivery End | Basis Month | Futures Price |
| DNS 14.0% | ||||||
|---|---|---|---|---|---|---|
| Delivery Start | Notes | Basis | Cash Price | Delivery End | Basis Month | Futures Price |
| Barley (Coast) | ||||||
|---|---|---|---|---|---|---|
| Delivery Start | Notes | Basis | Cash Price | Delivery End | Basis Month | Futures Price |
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
HRW: + 5 cents each 1/2% above 11.5% to 13.0%; - 10 cents each 1/2% below 11.5%
DNS: + 2 cents each 1/4% above 14.0% to 15.5%; - 4 cents each 1/4% below 14.0%
SWW: + 0 cents each 1/10% below 10.5%; - 0 cents each 1/10% from 10.5% to 12.0%. Max = -$0.00
** CLUB WHEAT MAX 10.5% PROTEIN ONLY **
Premiums and Discounts are Subject to Change...Please Call to Confirm
- Extended Downside for Cotton Market
- Nearby cotton futures pressed the downside on Monday, but were off their early session lows. May cotton saw a 281 point range from -176 to +105. The other front months ended the day 35 to 74 points lower. Stock market futures (SPY) bounced and the dollar ($DXY) weakened on Monday,...
- New Lows for Hog Market
- The front month lean hog futures closed Monday’s trade with triple digit losses of as much as $2.10. For April, that brought lows not seen since October of 2021, which was before April contracts were trading with significant volume - the true LoC low for April hogs is still $75.72....
- Red Close for Cattle Futures
- The first trade day of the week left cattle futures 30 to 87 cents in the red. Feeder cattle futures ended with 2 to 80 cent losses across the front months. Cash trade so far remains mostly unestablished, save for very limited $166 in the WCB. Last week’s activity was...
- Wheat Continued Lower
- The wheat market traded lower again on Monday to start the week. Chicago futures ended the session 9 3/4 to 13 1/2 cents lower. KC wheat futures settled the day down by 6 to 8 cents. MGE spring wheat futures were 7 3/4 to 9 1/2 cents lower across the...
- Mixed Monday in Soy Market
- Nearby soybeans were mixed with weaker old crop at the close. The May contract saw a 25 3/4 cent range on the day, from -13 1/2 to +11 1/4, and ended near the high on a 9 1/2 cent gain. Soybean oil futures were also higher on the day, gaining...
- Corn Closes off Day’s Lows
- Corn settled in the red on Monday, but futures were well off their earlier session lows. The front months bounced back from nearly a dime loss, but still closed 1 to 2 1/4 cents lower. Texas was 40% planted for new crop corn. That is 5% ahead of the 5-yr...
March 20, 2023 Market Email:
https://s3.amazonaws.com/media.agricharts.com/sites/2446/Markets_AM_3_20_23.pdf
Wheat futures are trading lower this morning, down 8 to 12 cents in the MAY futures. Some confusion on the status of the Black Sea Corridor this morning. Russia insists it will be a 60-day extension while the other partners are saying it must be rolled over in full under the existing terms, including the 120-day duration. The key hold-up is Russia's demand that they be given access to the SWIFT financial messaging system that facilitates international banking for exports. Repealing of further sanctions and an increased effort for free grain into African nations are also part of their demands. The up-to-date committmenet of traders report did not come out Friday afternoon as promised. They did no say when it would be available, just said it would be delayed. Commodity traders have been struggling in the absense of up-to-date reporting for quite some time and would like to know where the managed money is on the long-short spectrum so they can feed that into their trading strategies.
Banking sector unease continues... Banking systems in Europe and the US are trying to stabilize following the collapse of two big US banks. The Federal Reserve and the central banks of Britain, Canada, Japan, Switzerland and the EU announced coordinated measures to boost liquidity and "ease strains in global funding markets." Stablility in the banking system is important to help facliltate global trade.
US HRW acres continue to see limited rainfall the next 7 days and low temperatures put acres across the central / southern plains at risk of winterkill. Whe western US plains, which is the Texas panhandle and extending to the north, is by far the driest growing area in the US. It is also a region that does not normally have a lot of moisture, so I guess the potential for it to catch up towards normal is higher than a wetter region. Crops in that area are set go come out of dormancy soon. The 6-10 day shows wetter conditions for parts of Argentina and dry over the next 10 days for Central Brazil.
Cash Futures Prices: Chicago MAY is down 13 at 698, KC MAY is down 8 at 827 and MPLS MAY is down 9 at 851. US Dollar is trading 0.31 lower at 103.40.
