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GOOD MORNING NOVEMBER 26, 2014

Co-Ag Will Be Closed On Thursday and Friday, November 27th & 28th
In Observance of Thanksgiving.
We Wish You & Yours a Safe and Happy Holiday.






Click on the "Scholarship" tab for information on the Jerry Minore Scholarship!





 

 
 

 
 



 



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
 November  577'2s @W4Z Chart
 December  577'2s @W4Z Chart
 January  578'4s @W5H Chart
 February  578'4s @W5H Chart
 March  584'4s @W5K Chart
 April  584'4s @W5K Chart
 August  596'4s @W5U Chart

HARD RED WINTER WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 November  637'0s @KW4Z Chart
 December  637'0s @KW4Z Chart
 January  640'0s @KW5H Chart

DARK NORTHERN SPRING WHEAT
  ROSALIA
Futures Price Futures Month Basis Cash Price
 November  621'0s @MW4Z Chart
 December  621'0s @MW4Z Chart
 January  616'2s @MW5H Chart

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

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

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

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

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

CANOLA
  ROSALIA
Futures Price Futures Month Basis Cash Price
 November  NONE Chart
 December  NONE Chart
 January  NONE Chart
 February  NONE Chart

Price as of 11/29/14 03:25AM CST.
Month Symbols
Click to view more Cash Bids

FSC & Discounts

Fuel Surcharges       
Wheat               Barley

 

$.038 per bu   $1.30 per ton

 


Protein Discount Scales
14.0% DNS (+20, -35c/.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 377'0 -2'4
S5F 1015'0 -31'0
W4Z 549'2 15'2
O4Z 346'4 -0'4
Stocks
MSFT 47.8100 0.0600
WMT 87.5400 2.5600
XOM 90.540000 -3.940000
TWX 85.1200 1.3300



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Our Market Comments
Wheat futures are currently up 2.  Wheat bulls continue to look for a fresh horse to ride (production problems), while the bears keep beating the same one (weak exports and limited demand). I wish I had something more enlightening to share this morning, but wheat headlines, very similar to the crop are starting to go more dormant. SovEcon jumped on the bandwagon by telling the trade they are expecting Russia's grain production to fall by about 17%. 


 

Futures
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Dec 14 558'0 579'2 556'4 578'4 15'2 577'2s 11/28 Chart for @W4Z Options for @W4Z
Mar 15 558'2 581'0 557'6 578'4 15'6 578'4s 11/28 Chart for @W5H Options for @W5H
May 15 565'2 587'0 564'2 584'2 15'2 584'4s 11/28 Chart for @W5K Options for @W5K
Jul 15 570'0 591'6 569'4 589'0 14'4 589'0s 11/28 Chart for @W5N Options for @W5N
Sep 15 578'0 597'4 577'2 597'4 14'6 596'4s 11/28 Chart for @W5U Options for @W5U
Dec 15 587'2 609'4 587'2 606'6 13'4 606'2s 11/28 Chart for @W5Z Options for @W5Z
Mar 16 608'0 618'0 608'0 618'0 13'0 615'4s 11/28 Chart for @W6H Options for @W6H
May 16 586'0 13'2 617'2s 11/28 Chart for @W6K Options for @W6K
Jul 16 600'0 609'2 600'0 607'0 12'0 608'6s 11/28 Chart for @W6N Options for @W6N
Sep 16 614'6 11'0 614'6s 11/28 Chart for @W6U Options for @W6U
Dec 16 599'0 12'0 623'6s 11/28 Chart for @W6Z Options for @W6Z
Mar 17 628'6 12'0 628'6s 11/28 Chart for @W7H Options for @W7H
May 17 600'0 12'0 630'0s 11/28 Chart for @W7K Options for @W7K
Jul 17 627'0 11'2 627'0s 11/28 Chart for @W7N Options for @W7N
@KW - HARD RED WINTER WHEAT - KCBT
Month Open High Low Last Change Close Time More
Dec 14 618'4 640'0 618'4 636'4 16'0 637'0s 11/28 Chart for @KW4Z Options for @KW4Z
Mar 15 620'6 640'6 620'0 640'4 16'6 640'0s 11/28 Chart for @KW5H Options for @KW5H
May 15 623'6 641'6 620'4 641'2 16'6 641'0s 11/28 Chart for @KW5K Options for @KW5K
Jul 15 620'0 636'4 617'2 636'0 14'4 635'4s 11/28 Chart for @KW5N Options for @KW5N
Sep 15 630'4 645'0 630'4 644'0 14'6 645'4s 11/28 Chart for @KW5U Options for @KW5U
Dec 15 649'0 660'0 649'0 657'0 13'4 659'4s 11/28 Chart for @KW5Z Options for @KW5Z
Mar 16 649'0 651'0 649'0 649'0 13'0 665'6s 11/28 Chart for @KW6H Options for @KW6H
@MW - HARD RED SPRING WHEAT - MGE
Month Open High Low Last Change Close Time More
Dec 14 602'0 621'6 601'6 621'6 22'4 621'0s 11/28 Chart for @MW4Z Options for @MW4Z
Mar 15 600'4 617'0 599'4 615'0 13'4 616'2s 11/28 Chart for @MW5H Options for @MW5H
May 15 608'0 624'2 607'6 624'0 12'6 623'4s 11/28 Chart for @MW5K Options for @MW5K
Jul 15 616'4 631'0 616'0 629'0 11'4 630'2s 11/28 Chart for @MW5N Options for @MW5N
Sep 15 624'4 638'4 624'4 638'4 11'0 638'0s 11/28 Chart for @MW5U Options for @MW5U
Dec 15 639'2 651'2 639'2 651'2 10'2 651'2s 11/28 Chart for @MW5Z Options for @MW5Z
Mar 16 657'6 660'0 657'6 660'0 10'2 661'0s 11/28 Chart for @MW6H Options for @MW6H
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Dec 14 377'0 380'2 370'2 376'0 -2'4 375'6s 11/28 Chart for @C4Z Options for @C4Z
Mar 15 390'0 393'6 382'6 389'2 -2'6 388'6s 11/28 Chart for @C5H Options for @C5H
May 15 398'6 402'0 391'2 397'4 -3'2 397'0s 11/28 Chart for @C5K Options for @C5K
Jul 15 405'4 408'6 398'0 404'4 -3'2 403'6s 11/28 Chart for @C5N Options for @C5N
Sep 15 410'4 413'4 403'4 409'6 -3'4 409'0s 11/28 Chart for @C5U Options for @C5U
Dec 15 418'6 421'6 411'2 417'4 -3'6 416'6s 11/28 Chart for @C5Z Options for @C5Z
Mar 16 426'0 429'6 419'6 422'6 -3'2 425'4s 11/28 Chart for @C6H Options for @C6H
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Jan 15 1041'0 1051'4 1013'0 1014'0 -31'0 1016'0s 11/28 Chart for @S5F Options for @S5F
Mar 15 1046'0 1057'0 1019'0 1020'2 -30'2 1022'4s 11/28 Chart for @S5H Options for @S5H
May 15 1052'6 1062'6 1025'6 1027'0 -29'4 1029'2s 11/28 Chart for @S5K Options for @S5K
Jul 15 1056'6 1066'4 1029'6 1031'0 -29'6 1033'2s 11/28 Chart for @S5N Options for @S5N
Aug 15 1056'0 1062'4 1039'2 1039'2 -29'2 1032'6s 11/28 Chart for @S5Q Options for @S5Q
Sep 15 1036'0 1040'0 1011'0 1011'0 -26'4 1011'4s 11/28 Chart for @S5U Options for @S5U
Nov 15 1018'0 1023'0 993'6 995'0 -24'4 997'0s 11/28 Chart for @S5X Options for @S5X
@LE - LIVE CATTLE - CME
Month Open High Low Last Change Close Time More
Dec 14 168.875 169.075 168.275 168.850 - 0.375 168.875s 11/28 Chart for @LE4Z Options for @LE4Z
Feb 15 169.100 169.700 168.625 169.400 - 0.450 169.225s 11/28 Chart for @LE5G Options for @LE5G
Apr 15 167.650 169.000 167.500 168.900 0.700 169.000s 11/28 Chart for @LE5J Options for @LE5J
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Dec 14 88.135 88.455 87.995 88.400 0.764 88.413s 11/28 Chart for @DX4Z Options for @DX4Z
Mar 15 88.355 88.640 88.195 88.600 0.764 88.601s 11/28 Chart for @DX5H Options for @DX5H
Jun 15 88.575 88.810 88.430 88.810 0.763 88.796s 11/28 Chart for @DX5M Options for @DX5M
My Custom Markets
Symbol Open High Low Last Change Close Time More

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No Agreement on Tax Extenders
Railroads Struggle to Catch Up
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Headline News
Ferguson Give Thanks for Quiet Night 11/28 06:25
Rebels Push Forward in Syria 11/28 06:32
Australia Out of Step on Climate 11/28 06:21
Southern Dems Urge Return to Basics 11/28 06:28
EU Holds Off on Francy,Italy Sanctions 11/28 06:31
Pope Wades Into Mideast Turmoil 11/28 06:24
Attacks Kill 9 in Iraq 11/28 06:27
Stocks Slip as Crude Oil Sinks 11/28 13:22

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Rosalia, WA
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High: 42°F
Low: 16°F
Precip: 20%
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Rosalia, WA
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