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GOOD MORNING
 Thursday July 02, 2015

Co-Ag Will Be Closed On Friday, July 3rd
In Observance Of Independence Day. There Are No Markets.
We Wish You A Safe And Happy Holiday!


CO-AG Pre-Harvest Meetings Are Scheduled For;
Tuesday, July 7th at the Harvester in Spangle

Wednesday, July 8th at the Oakesdale Fire Station

Randy Fortenbury will be there to discuss Market Trends and Forcasts


MEETINGS WILL START AT 11:00, LUNCH WILL FOLLOW


Click here for current weather conditions in Fairfield








 

 

 
 



 



Co-Ag Farm

7/3/2015

Woo! What a week, all of this weather the Midwest, east, and PNW has been receiving finally caught up with the trade. With last week’s rallies to a cash of 6.55 to another big jump to 6.85 before the reports this week was an excellent time to take some risk off the table. As posted earlier in the week I went ahead a few trades for the Co-Ag JV farm and now have 50% of my crop sold or hedged, a little later than I was hoping for but with the level s we have been at the past couple months I am not complaining. Right now with 50% marketed I am averaging 6.80, which is a good amount over my break even and gives me more flexibility in marketing the rest of my crop. I did go ahead and initiate a HTA contract when futures reached $6.14 SEP, with a basis of +.65. With HTA’s you lock in your futures price, the 6.14 and want the basis to get stronger, in this trade anything over +.65. If my prediction is correct, and futures fall off and the basis rallies to let’s say +1.00 I would have made .35 cents. What does this equal in the cash side? 6.14+.65=6.79 cash, with 6.14+1.00=7.14 cash. But I did not make this decision on gut instinct, I looked at the market, decided what was causing this rally and made a decision based on those facts. What I saw was a wheat market that was being driven up by corn, weather, and speculators trading getting out of short positions. The report this week was actually bearish to neutral for wheat, even though all the weather and quality concerns in the US they kept the numbers that same.  So what this told me was this was not going to be a extended rally and I needed to take advantage of some good prices while I could. So I locked in the futures price, expecting futures to fall and when futures fall basis will strengthen and I will be able to capture a higher cash price.  Now since I did this HTA for NC I don’t have a lot of time to play with the basis, and with these weekly crop reports that could change the market landscape so I will have to watch the market hard and I plan to pull the trigger if I get .15-.20 profit.



The Co-Ag Pre-Harvest meetings are July 7th and 8th, please attend if you can as important information on delivery locations and commodities is provided as well as great time to ask questions or concerns. Randy Fortenberry will also be in attendance to dicuss the upcoming marketing year and what to look for.


UPDATE 7/1/2015
With the rally continuing yesterday I went ahead with another cash trade of 10,000BU @ 6.85. I also initated a HTA contract for 10,000BU, I locked in the futures @ 6.14 and with a basis of +.65 I am bullish the basis at least .30 by harvest. Full report and market thoughts sent for tommorow. You can see the detailed marketed breakdown on the Co-Ag Farm JV link on the left.

Update 6/29/2015
Withh the rally we had last week and this morning, I have went ahead and priced some NC bushels for August delivery. I made a trade on 6/25/2015 for 5,000BU @ 6.55 and then I pulled the trigger for 20,000BU @ 6.73. This puts me at 30% sold for 2015 crop with a average price at 6.795. With .40 over my break even I feel very confident with the past 2 trades and how the future outlook is heading. I will have a more detailed report later this week after the USDA releases there weekly numbers.


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
 July  581'0 @W5U Chart
 August  581'0 @W5U Chart
 September  581'0 @W5U Chart
 October  590'4 @W5Z Chart
 January  598'0 @W6H Chart
 February  598'0 @W6H Chart

HARD RED WINTER WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 July  584'0 @KW5U Chart
 August  584'0 @KW5U Chart
 January  615'0 @KW6H Chart

DARK NORTHERN SPRING WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 July  613'0 @MW5U Chart
 August  613'0 @MW5U Chart
 September  628'0 @MW5Z Chart
 January  640'0 @MW6H Chart

BARLEY
  ROSALIA
Futures Price Futures Month Basis Cash Price
 July  NONE Chart
 August  NONE Chart
 September  NONE Chart
 January  NONE Chart
 February  NONE Chart

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

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

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

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

CANOLA
  ROSALIA
Futures Price Futures Month Basis Cash Price
 August  NONE Chart
 September  NONE Chart

Price as of 07/05/15 11:51PM CDT.
Month Symbols
Click to view more Cash Bids

FSC & Discounts

Fuel Surcharges       
Wheat               Barley

 

$-.01675 per bu   $.-56 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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Commodities
@C5N 414'0 -5'6
@S5N 1031'6 -13'4
@W5N 573'2 -12'4
@O5N 247'2 5'0
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WMT 71.860000 -0.020000
XOM 83.140000 0.770000
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Our Market Comments
Wheat futures are currently down 3.  Wheat takes a few steps backwards from it's most recent highs. There's a bit more moisture in the forecast for parts of Canada, while the harvest in the U.S., especially the HRW harvest may gain a bit more momentum over the weekend.

Futures
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Jul 15 580'0 580'0 572'2 573'2 -12'4 585'6 11:39P Chart for @W5N Options for @W5N
Sep 15 584'4 586'2 576'6 581'0 -9'4 590'4 11:41P Chart for @W5U Options for @W5U
Dec 15 594'0 594'4 586'0 590'4 -8'6 599'2 11:41P Chart for @W5Z Options for @W5Z
Mar 16 602'2 603'0 596'2 598'0 -10'0 608'0 11:41P Chart for @W6H Options for @W6H
May 16 604'0 604'0 604'0 604'0 -9'4 613'4 11:41P Chart for @W6K Options for @W6K
Jul 16 600'4 603'0 597'2 600'4 -7'6 608'2 11:39P Chart for @W6N Options for @W6N
Sep 16 601'4 601'4 601'4 601'4 -12'4 614'0 11:38P Chart for @W6U Options for @W6U
Dec 16 615'6 615'6 608'0 613'6 -8'2 622'0 11:38P Chart for @W6Z Options for @W6Z
Mar 17 616'0 616'0 616'0 616'0 -9'6 625'6 11:38P Chart for @W7H Options for @W7H
May 17 625'0 618'2 Chart for @W7K Options for @W7K
Jul 17 592'2 598'0 592'2 598'0 2'6 588'2s 11:38P Chart for @W7N Options for @W7N
@KW - HARD RED WINTER WHEAT - KCBT
Month Open High Low Last Change Close Time More
Jul 15 573'0 576'0 Chart for @KW5N Options for @KW5N
Sep 15 587'4 589'4 580'6 584'0 -7'6 591'6 11:39P Chart for @KW5U Options for @KW5U
Dec 15 609'6 609'6 601'4 603'2 -8'0 611'2 11:39P Chart for @KW5Z Options for @KW5Z
Mar 16 618'4 618'4 615'0 615'0 -8'4 623'4 11:39P Chart for @KW6H Options for @KW6H
May 16 638'2 631'2 Chart for @KW6K Options for @KW6K
Jul 16 627'6 628'6 624'6 624'6 -10'4 635'2 11:39P Chart for @KW6N Options for @KW6N
Sep 16 637'2 645'6 637'2 645'6 -1'2 642'0s 11:39P Chart for @KW6U Options for @KW6U
@MW - HARD RED SPRING WHEAT - MGE
Month Open High Low Last Change Close Time More
Jul 15 607'0 607'0 598'6 599'6 -1'2 606'2s 11:38P Chart for @MW5N Options for @MW5N
Sep 15 619'0 619'4 609'4 613'0 -11'0 624'0 11:39P Chart for @MW5U Options for @MW5U
Dec 15 629'0 629'6 627'6 628'0 -11'6 639'6 11:39P Chart for @MW5Z Options for @MW5Z
Mar 16 640'0 640'4 640'0 640'0 -11'0 651'0 11:38P Chart for @MW6H Options for @MW6H
May 16 655'0 665'0 646'6 652'0 3'2 658'4s 11:38P Chart for @MW6K Options for @MW6K
Jul 16 650'4 669'0 650'4 660'0 3'0 662'2s 11:38P Chart for @MW6N Options for @MW6N
Sep 16 640'0 655'0 640'0 651'4 1'2 648'2s 07:22P Chart for @MW6U Options for @MW6U
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Jul 15 417'6 419'0 414'0 414'0 -5'6 419'6 11:39P Chart for @C5N Options for @C5N
Sep 15 427'0 428'0 422'2 422'2 -6'2 428'4 11:40P Chart for @C5U Options for @C5U
Dec 15 434'6 437'0 431'0 431'0 -6'2 437'2 11:40P Chart for @C5Z Options for @C5Z
Mar 16 443'4 446'0 440'4 440'4 -6'0 446'4 11:40P Chart for @C6H Options for @C6H
May 16 447'6 450'6 446'2 446'6 -5'2 452'0 11:40P Chart for @C6K Options for @C6K
Jul 16 452'2 455'0 450'0 450'0 -5'4 455'4 11:40P Chart for @C6N Options for @C6N
Sep 16 435'2 436'0 433'6 436'0 -0'4 436'4 11:41P Chart for @C6U Options for @C6U
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Jul 15 1037'0 1038'0 1031'6 1031'6 -13'4 1045'2 11:41P Chart for @S5N Options for @S5N
Aug 15 1032'0 1032'0 1022'4 1022'6 -15'4 1038'2 11:41P Chart for @S5Q Options for @S5Q
Sep 15 1025'4 1025'4 1016'0 1016'6 -14'6 1031'4 11:41P Chart for @S5U Options for @S5U
Nov 15 1023'2 1023'2 1014'0 1014'4 -15'6 1030'2 11:41P Chart for @S5X Options for @S5X
Jan 16 1028'6 1028'6 1020'0 1020'2 -15'4 1035'6 11:41P Chart for @S6F Options for @S6F
Mar 16 1020'4 1022'4 1016'0 1016'6 -12'0 1028'6 11:40P Chart for @S6H Options for @S6H
May 16 1006'0 1008'6 1001'0 1004'2 -8'6 1013'0 11:40P Chart for @S6K Options for @S6K
@LE - LIVE CATTLE - CME
Month Open High Low Last Change Close Time More
Aug 15 151.650 151.975 150.825 151.275 0.150 151.225s 02:00P Chart for @LE5Q Options for @LE5Q
Oct 15 153.975 154.475 153.425 154.000 0.425 154.125s 02:00P Chart for @LE5V Options for @LE5V
Dec 15 154.925 155.400 154.350 154.650 - 0.025 154.725s 02:00P Chart for @LE5Z Options for @LE5Z
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Sep 15 96.770 96.870 96.455 96.560 0.270 96.290 11:40P Chart for @DX5U Options for @DX5U
Dec 15 96.980 97.210 96.865 96.900 0.235 96.665 11:40P Chart for @DX5Z Options for @DX5Z
Mar 16 97.300 97.300 97.300 97.300 0.345 96.955 11:40P Chart for @DX6H Options for @DX6H
My Custom Markets
Symbol Open High Low Last Change Close Time More

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Informa Lowers Production Potential
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USDA Reports Summary
View From the Cab
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Congress Facing Busy Agenda 07/05 10:01
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Stocks Slip on Mixed Jobs Report 07/02 15:52

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Rosalia, WA
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Rosalia, WA
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