| SWW | ||||||
|---|---|---|---|---|---|---|
| Delivery Start | Notes | Basis | Cash Price | Delivery End | Basis Month | Futures Price |
| Club Wheat Max 10.5% | ||||||
|---|---|---|---|---|---|---|
| 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 |
| CANOLA FOB UTOWN 07-25-24 | ||||||
|---|---|---|---|---|---|---|
| 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: + 3 cents each 1/4% above 14.0% to 15.5%; - 7 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
- Cattle Post Mixed Trade, with Feeders Rallying
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- Wheat Fall to New Low on Friday
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- Cotton Heads Lower on Friday
- Cotton futures were pulled lower on Friday, as contracts were down 72 to 116 points on the day. The outside markets had some effect, as crude as down $1.85/barrel on the session. CFTC data showed managed money spec funds in cotton futures and options adding 4,357 contracts to their net...
- Soybeans Collapse on Friday as Bulls Limited Ammo Dries Up
- Soybeans gave back all of the gains in the August contract for this week and most of November’s on Friday, as contracts fell 28 to 38 ½ cents into the close. Product pressure was in play, especially from the Soy Oil futures, which were down 219 points. Soymeal futures were...
- Hogs Mixed on Friday
- Lean hogs closed out the Friday session with contracts mixed, anywhere from 30 cents lower to 40 cents higher. The USDA National Base Hog price was reported at $82.13 on Friday afternoon, down $2.38 from the day prior. The CME Lean Hog Index was $91.39 on July 24, up 62...
- Corn Gives Back Gains on Friday as Bears Resume Selling
- Corn futures ended the Friday session with losses 10 to 11 ½ cent losses across most contracts. The weekly gain for September was 4 cents as Dc was up just over a nickel. The weekly Commitment of Traders report showed specs in corn futures and options covering 24,847 contracts from...
July 26, 2024
Market Email: http://s3.amazonaws.com/media.agricharts.com/sites/2446/Markets_AM_07_26_24.pdf
Wheat futures are trading lower this morning, down 10 to 13 cents in the SEPT 2024 futures. Wheat futures were mixed in the overnight futures session while corn and soybeans were trading lower going into the morning session. French soft wheat ratings dropped another 2% down to 50% good/excellent with roughly 41% of the crop harvested. Ukraine's ag ministry says grain harvest as of July 25 totaled 20 MMT, and they raised their 2024 production forecast from 52.4 MMT to 56 MMT. Wheat harvest is at 14.7 MMT, barley 3.86, and rapeseed 3.08 MMT. The US Spring wheat tour estimates North Dakota's HRS crop at 54.5 bushels per acre, highest on record going back to 1992 and well above last year's 47.4 bpa and the 5-year average of 42 bpa. While there was a lot of the fusarium fungus noted, the market does not seem to be too worried about it at this point. All in all, the boots on the ground reports for HRS seem to be countering the weather scares that had boosted the MPLS HRS Futures over the past few weeks.
For those holding Hedge to Arrive contracts we are seeing Sept SWW basis levels widen to about 48 cents as a result of the futures dropping and the cash bids hanging on at 575. It's at the higher end of what we've seen and might be a good morning to set some basis. As for other marketing strategies, we are a ways away from futures values that would make putting on a new HTA a desireable option, but if you need to sell some cash grain and don't like the price, you could consider using a minimum price contract (MPC). With a MPC, you sell your cash grain and purchase a call option which gives you the right, but not the obligation, to purchase wheat futures at whichever strike price you choose. THe cost of the call options will vary depending on how high a strike price you are looking at. The price of the call option gets subtracted from the cash price and becomes the "minimum price". If the futures make a rally down the line, the call option gives you the ability to buy futures at your strike price which then can be re-sold at a higher price (buy low - sell high). Think of it as a sort of insurance policy. If you have any questions give us a call.
Cash Futures Prices: Chicago SEP is down 10 at 527. KC SEP is down 13 at 548 and MPLS JULY is down 11 at 592. US Dollar is trading 0.09 lower at 104.27.
