Welcome

Good Afternoon: June 23, 2016

Markets settled lower the day even with a stronger weekly export sales report and a lower US dollar allowing the wheat to gain on the feed grains. Continuing to keep the market under pressure have been the outstanding harvest results from both the HRW and SRW areas. Adding to that are the favorable results coming out of the Russian harvest. Wheat export sales came in at the higher end of the expectations at 463k mt.

Thinking: We just touched the bottom of the trading range with the stochastics showing the market is oversold indicating we should have a technical bounce. Rallies should be rewarded and sold.

SALES:

On 4/20 we locked 10% of our proven yield with a Sept ’16 Futures lock at 5.20

On 4/20 we locked 10% of our proven yield with a Sept ’17 Futures lock at 5.60

On 4/21 we purchased WN16 5.00 put options on remaining 90% of crop at .20 ¼ for price protection.

On 5/11 we sold 15% WN15 5.00 put options @ (.46 ¼ - .20 ¼) = .26 net. Sold cash 5.35. Leaves us with 75% left to price. 75% of crop protected put options.

On 5/27 we sold 10% cash @ 5.55 Oct delivery. Will unwind puts when market breaks. This leaves 65% to price.

On 5/27 we rolled the remaining 5.00 July puts to Sept. Sold the WN puts @ .23¼ and bot WU5.00 puts   @ .28½ for a roll price of [-.0525]. To finance the put we sold an out of the money 5.50 calls for .085 so we had a net trade of + .03¼. We are exposed in the event the market goes crazy up – to counter this we have a stop loss order to buy the call back when the call is worth .11¾. This allows us 2 months more protection for 0 money.

On 5/31 we sold 10% of puts covering our 5/27 cash sale. (.36-.28½ =.07½) 5.55 + .07½ = 5.62¼. We still have the call and will unwind when market rebounds.

On 6/2 we sold 5% cash @ 5.45 Aug delivery. Will unwind puts when market breaks. This leaves 60% to price.

On 6/6 we sold 10% cash @ 5.60 Aug delivery. Will unwind puts when market breaks. This leaves 50% to price.

On 6/6 we locked in 10% of our proven yield with a Sept ’17 Futures lock at 5.75¾. This leaves us 20% sold for our ‘17 crop

On 6/7 per our strategy on 5/27 we had a stop loss on our call option and it was exercised leaving us at a net 0. (refer to summary on 5/27)

On 6/8 we sold our 5.00 WU puts for .16. for net of -.04 (.16-.20 =-.04). We bot WU5.30 puts for .30 for a net price of .34 bu (this includes our 4 cent loss). So in essence we bot .34 worth of coverage for a total of .14 cents more.

On 6/16 we sold 25% WU16 5.30 put options @ (.54 - .34) = .20 net.  This makes our sales on 5/27 (5.55 +.20 =5.75), 6/2 (5.45 +.20 =5.65), 6/6 (5.60 +.20=5.80). 

Sept Futures closed: CGO down 6½ @ 456¾; KC down 5¼ @ 445½; MINN down 3¾ @ 531.      

Portland Flat Price: SW @ 5.22 (.56), DNS @ 6.26 (.95), HRW @ 5.15 (.70), BLY @ 140. 

 

ATTENTION COMING EVENTS!!

Will have our next marketing meeting July 6, 7:00 @ SEL in Pullman.

BIDS LAST UPDATED: JUNE 24, 2016 @8:58 AM
Soft White Wheat
Name Delivery Start Cash Price Notes
SWW

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Quotes retrieved on June 27, 2016, 07:57:02 AM CDT
Club Wheat Bids
Name Delivery Start Cash Price Notes

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Quotes retrieved on June 27, 2016, 07:57:02 AM CDT
Cash Bids (Subject- Call for Current Price)
Delivery Start Cash Price Basis Futures Price Basis Month Notes
HRW
HRS
HWW
BLY

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Quotes retrieved on June 27, 2016, 07:57:02 AM CDT
Please Call for Current Pulse Bids
Name Cash Price Notes

Quotes retrieved on June 27, 2016, 07:57:02 AM CDT
PNW Specialty Foods / Mighty Mustard

Practical Farmers of Iowa Release Midwest Cover Crops Trial Report

Practical Farmers of Iowa has released their 2014-15 Research Trial Report, and it shows Mighty Mustard® Kodiak (brown mustard) as being a very strong performer in both biomass production and weed/pathogen suppresion among other cover crops in the midwest growing regions.

Click HERE for a brief overview.

Click HERE to read the full report. 

USDA Releases New Cover Crop Comparison Chart

The USDA has released a new, comprehensive Cover Crop Comparison Chart.  This chart has a ton of excellent information about the benefits and drawbacks of different cover crops. It also should be pointed out the mustards are shown ina very positive light!  Go Mighty Mustard!

Click HERE to view the chart.

Moscow Food Co-op Wants You to Get To Know: Garbanzos

Fun & delicious facts about garbanzo beans from our friends at Moscow Food Co-op, courtesy of their Beet Box Blog.

Click here to read the article. 

Sunrise Red Lentils featured “Harvest of the Month” for Schools

We're honored that our PNW Co-op Sunrise Red Lentils will be featured on Spokane Public School’s menus as April's "Harvest of the Month." Supporting the National Farm to School Network is one of our core missions, so we're grateful for this opportunity to partner with the Spokane School District. Big thanks to our friends at LINC Foods for bringing our local legumes to Spokane students!

To learn more, watch this video.

Mighty Mustard Pacific Gold & IdaGold Meet Certified Seed Standards

We are pleased to announce that the Mighty Mustard Pacific Gold and IdaGold have passed Certified Seed standards and are being shipped to distributors across the country. Please visit the Where To Buy page on MightyMustard.com for the most up-to-date information regarding availability.

PNW Co-op Specialty Foods NEW Expanded "Where To Buy" Section 

We have revamped our "Where To Buy " page on www.EatRealPNW.com ! You can find all the stores across the country where your PNW Co-op Specialty Foods are sold across the country (and even in British Columbia, Canada)!  You can also go directly to the PNW Co-op Specialty Foods page by following the link to www.EatRealPNW.com!

 

Brugler Commentary
Wheat -

Wheat futures are currently trading steady to slightly higher in most contracts after settling mostly 3/4 to 5 cents lower on Friday. The sharp

Wheat -

Wheat futures settled mostly 3/4 to 5 cents lower on Friday, although front month Jul16 SRW squeaked out a 1/2 cent gain on the day. The sharp climb

Wheat -

Wheat futures are currently down 2 1/2 to 6 cents, after trading 3 to 8 cents lower this morning due to pressure from strength in the US Dollar.

Wheat -

Wheat futures this morning are trading another 3 to 7 cents lower mostly on the strength of the US Dollar. Export sales during the week ending June

Wheat -

Wheat futures ended the Thursday session with 3 3/4 to 7 3/4 cent losses, with several contracts closing just fractionally above or right at their

Full commentary...
Grain Market Hours

Monday – Thursday:    8:30 AM - 11:15 AM PST 

                                       2:00 PM - 4:00 PM PST

                       Friday:    
8:30 AM - 11:15 AM PST

 *Markets Closed on Holidays*

*No Protein Wheats During Afternoon Market Hours*
(HWW / HRW / DNS) 

 

Hard Red Spring Wheat (HRS / DNS)
Protein Scale: +4/-8 each 1/4 from 14%

Hard Red Winter Wheat (HRW)
Protein Scale: +5/-8 each 1/2 from 11.5%

Hard White Wheat (HWW)
Protein Scale: +0/-4 each 1/2 from 12%

Futures Trading Hours

Monday – Friday:    5:45 AM - 6:30 AM PST (Break)

                                  6:30 AM - 11:15 AM PST (Trading)

Sunday – Friday:     
5:00 PM - 5:45 AM PST (Trading)

 

Futures Markets
Quotes retrieved on June 27, 2016, 07:57:02 AM CDT
Weather

Genesee, Idaho (83832)

Current Conditions: Sunny
Temperature: 60°F Dew point: 46°F
Humidity: 60% Pressure: 30.12 in. Hg
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Forecast

Monday

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Lo: 49°
Tuesday

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Lo: 51°
Wednesday

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Thursday

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Lo: 57°
Friday

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Lo: 57°

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 Colfax

  Genesee
North 204 Main Street
  117 West Chestnut
Colfax, WA 99111
  Genesee, ID 83832
509-397-4381   208-285-1141
     
                                      Toll Free: 866-986-2008