Welcome

Good Afternoon, May 31, 2016

Markets settled weaker as we close out the month of May as the funds sold right out of the chute on reports of good harvest results from Southwest Oklahoma. Early harvest reports showing good test weight and good yields. Funds were sellers of 9,000 contract for the day basically erasing all of last week’s gains. Market looking at good production and the real question is can quality get into the bin...

 

Thinking: See below our sales from last week. We are looking out with more confidence at bigger yields. Are we seeing an additional 10% of a crop over last year? This looks to be the year where we are challenged to out produce lower prices…. Keep you posted.

 

SALES:

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

On 4/20 we locked 10% of our proven yield with a Sept ’17 HTA 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 .11½. 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.     

 

July Futures closed: CGO down 17 @ 464½; KC down 12½ @ 447¼; MIN down 7¾ @ 520 ¼.     

 

Portland Flat Price: SW @ 5.25 (.61), DNS @ 6.20 (1.00), HRW @ 5.32 (.85), BLY @ 145. 

 

Subject to change:

Please note the market is not paying premiums for SWW.

 

ATTENTION COMING EVENTS!!

Will have our next marketing meeting June 1, 7:00 @ SEL in Pullman.

 

EMAIL TOM OR DAVID AT:

tomr@pnw.coop

david@pnw.coop

 

BIDS LAST UPDATED: MAY 31, 2016 @ 2:00 PM
Soft White Wheat
Name Delivery Start Cash Price Notes
SWW

View all cash prices...
Quotes retrieved on May 31, 2016, 10:31:49 PM CDT
Club Wheat Bids
Name Delivery Start Cash Price Notes

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Quotes retrieved on May 31, 2016, 10:31:49 PM 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 May 31, 2016, 10:31:49 PM CDT
Please Call for Current Pulse Bids
Name Cash Price Notes

Quotes retrieved on May 31, 2016, 10:31:49 PM 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 were sharply lower on the day.  The front months for all three major classes have retreated to below where they began the sharp

Wheat -

Wheat futures are currently 3 to 14 1/2 cents lower, after trading only around three cents lower this morning. The front few SRW contracts are

Wheat -

Wheat futures are down as much as three cents on the last day of May, after settling the Friday trade 2 to 3 cents lower in KC, and 3 to 6 3/4 cents

Wheat -

Wheat futures settled Friday trading 2 to 3 cents lower in KC, and down 3 to 6 3/4 cents in MPLS. The CHI market, however, finished fractionally

Wheat -

Wheat futures are 4 cents lower to 1 1/4 higher, after seeing 1 to 4 cent losses this morning. The front four contracts in each market are currently

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 May 31, 2016, 10:31:49 PM CDT
Weather

Genesee, Idaho (83832)

Current Conditions: Sunny
Temperature: 74°F Dew point: 40°F
Humidity: 29% Pressure: 30.00 in. Hg
Wind: 4 mph From: Southeast

Forecast

Tuesday

Hi: 74°
Lo: 41°
Wednesday

Hi: 73°
Lo: 54°
Thursday

Hi: 65°
Lo: 50°
Friday

Hi: 76°
Lo: 52°
Saturday

Hi: 85°
Lo: 55°

Zip Code:

© 2016 Freese-Notis Weather

Ag Headlines

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InsideFutures Commentary

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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