Western grain markets
Grains are stated in dollars per bushel or hundredweight (cwt.) except feed grains traded in dollars per ton. National grain report bids are for rail delivery unless truck indicated.
(USDA Market News)
PACIFIC NORTHWEST MARKET SUMMARY
Cash wheat bids for June delivery ended the reporting week on Thursday, June 5, lower compared to the previous week’s June bids.
July wheat futures ended the reporting week on Thursday, June 5, lower as follows compared to May 30 closes: Chicago 26.75 cents lower at $6.0575, Kansas City 16.50 cents lower at $7.14 and Minneapolis wheat futures trended 24.00 cents lower at $6.9050. Chicago July corn futures trended 20.50 cents lower at 4.49 while July soybean futures closed 38.50 cents lower at 14.6050.
Bids for U.S. 1 Soft White Wheat delivered to Portland in unit trains or barges during June were $6.9575-7.25, mostly $7.1375. Bids were 11.75 to 15.00 cents per bushel lower than May 29 bids for June delivery of $7.0750-7.40. White club wheat premiums for this week and last week were 30 to 50 cents, mostly 45 cents per bushel over soft white wheat bids.
One year ago bids for U.S. 1 Soft White Wheat and white club wheat delivered by unit trains and barges to Portland for June delivery were not available. Nearby bids for U.S. 1 Soft White wheat began the reporting week on May 30 at mostly $7.1975 then moved lower to mostly $7.1225 on June 2, and on June 3 moved to the weekly low of mostly $7.10. On June 4 prices moved higher to mostly $7.1625. June 5, bids moved to the slightly lower to $7.1375.
Lower Chicago July soft red winter wheat futures throughout the week pressured soft white wheat bids. Some exporters were not issuing bids for nearby delivery. Forward month bids for soft white wheat were as follows: July $6.7575-7.2075, August New Crop $6.7925-7.1625, September $6.85-7.1625, and October $7.07-7.15. One year ago, forward month bids for soft white wheat were as follows: July $7.39-7.4650, August New Crop $7.39-7.44, September $7.39-7.45, and October was $7.3275-7.50.
Bids for 11.5 percent protein U.S. 1 Hard Red Winter Wheat for June delivery trended 16.50 to 26.50 cents per bushel lower than May 29 noon bids in lining up with the lower Kansas City July wheat futures for the week. Some exporters were not issuing bids for nearby delivery. On June 5, bids were as follows: June $7.84-7.94 mostly $7.91; July $7.79-7.94; August New Crop $7.80-8.00, September $7.80-8.00, and October $7.9625-8.1625.
Bids for non-guaranteed 14.0 percent protein U.S. 1 Dark Northern Spring Wheat for June Portland delivery trended 14.00 to 19.00 cents per bushel lower than last Thursday’s noon bids. Lower Minneapolis July spring wheat futures for the week weighed on cash prices. Some exporters were not issuing bids for nearby delivery. On June 5, bids for non-guaranteed 14 percent protein were as follows: June $8.1550-8.3550, mostly $8.2450; July $8.0550-8.2550; August New Crop $8.0875-8.2375, September $7.8875-8.2375, and October $8.2525-8.3525.
COARSE FEEDING GRAINS
Bids for U.S. 2 Yellow Corn delivered to Portland in single rail cars were not available. Bids for U.S. 2 Yellow Corn truck delivered to the inland feeding areas of Yakima, Wash., and Hermiston, Ore., were also not available. Bids for U.S. 2 Heavy White Oats for June delivery were $280.00, steady with May 29 noon bids.
OUTSTANDING EXPORT SALES
Outstanding U.S. white wheat export sales as of May 29, for the marketing year beginning June 1, 2013, and ending May 31, 2014, totaled 212.8 thousand MT compared to 327.1 thousand MT on May 22, and 62.8 thousand MT one year ago. Outstanding white wheat export sales for the 2013-14 marketing year were to the following countries in 1000 MT: Japan 76.4, Philippines 49.5, Thailand 20.0, Indonesia 15.0, Guatemala 11.3, South Korea 11.0, Nigeria 7.1, Malaysia 1.0, Burma 1.0, Canada 0.5, and total unknown 20.0. Accumulated white wheat export shipments as of May 29, in 1000 MT for the 2013-14 marketing year, totaled 4,366.5 compared to 4,619.5 one year ago.
Outstanding U.S. white wheat export sales for the marketing year beginning June 1, 2014, and ending May 31, 2015, in 1000 MT, totaled 849.3 the current week compared to the previous week of 774.1 and were to the following countries: South Korea 153.3, Philippines 114.6, Japan 91.8, Sri Lanka 45.0, Guatemala 25.6, Malaysia 20.0, Taiwan 13.5, El Salvador 12.7, Vietnam 6.0, Peru 5.0, Indonesia 3.0, Burma 1.4, Thailand 1.2, Hong Kong 0.8, and total unknown 355.4.
Outstanding U.S. barley export sales as of May 29, for the marketing year beginning June 1, 2013, and ending May 31, 2014, in 1000 MT, totaled 2.4 compared to 4.0 the previous week and 2.7 one year ago. Outstanding barley export sales for the 2013-14 marketing year in 1000 MT were to the following countries in 1000 MT: Japan 1.4, South Korea 0.9, and Taiwan 0.1. Accumulated barley export shipments as of May 29, 2014 were 175.2 thousand MT compared to 132.6 one year ago. Outstanding U.S. barley export sales for the marketing year beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 5.6 compared to 5.1 last week and were to the following countries: Taiwan 2.5, Japan 2.4, South Korea 0.5, and Philippines 0.2.
PACIFIC NORTHWEST EXPORT NEWS
There were 15 grain vessels in Columbia River ports on Thursday, June 5, with four docked compared to 12 May 29 with four docked. New confirmed export sales for the week were limited to Japan. Japan purchased the following U.S. wheat in metric tons for the specified shipment periods: 23,720 of minimum 14 percent protein dark northern spring wheat for loading between July 21 and Aug 20, and 14,000 of western white wheat and 15,310 of semi hard red winter wheat for arrival by Sept. 30.
(USDA Market News)
Prices in dollars per cwt., bulk Inc.= including; Nom.= nominal; Ltd.= limited; Ind.= indicated; NYE=Not fully estimated.
Mode Destination Price per cwt.
BARLEY - U.S. No. 2 (46-lbs. per bushel)
Truck Petaluma-Santa Rosa $12.75
Colusa County NA
FOB Yolo County Sale $12.75
FOB Glenn County Sale $11.52
Rail Any origin
via Union Pacific and BNSF NA
Tulare - via Union Pacific NA
HULLESS BARLEY - U.S. No. 2 (46-lbs. per bushel)
Yolo County NA
CORN - U.S. No. 2 Yellow
Truck Petaluma-Santa Rosa NA
Los Angeles-Chino Valley NA
Colusa County NA
Rail Single Car Units via BNSF
Chino Valley $10.93
Los Angeles $10.93
SORGHUM - U.S. No. 2 Yellow
Rail Los Angeles-Chino Valley
via BNSF Single $11.37
OATS - U.S. No. 2 White
Truck Petaluma-Stockton-Modesto-Turlock $15
OATS - U.S. No. 1 White
Truck Los Angeles-Chino Valley $15.50
WHEAT - U.S. No. 2 or better - Hard Red Winter
(Domestic Values for Flour Milling)
Kings County 13 percent Protein NA
Los Angeles 12 percent Protein $15.45
Los Angeles 13 percent Protein $15.65
Los Angeles 14 percent Protein $15.85
Truck/Rail Los Angeles 11-12 percent Protein NA
Los Angeles 12 percent Protein $14.48-14.57
Los Angeles 13 percent Protein NA
Los Angeles 14 percent Protein NA
WHEAT - U.S. Durum Wheat
Truck Imperial County NA
WHEAT - Any Class for Feed
Truck Petaluma-Santa Rosa $13.10
Merced County $13.25-13.50
Colusa County NA
Imperial County NA
Truck/Rail Los Angeles-Chino Valley $14.50-15.25
Prices paid to California farmers, seven-day reporting period ending June 5:
WHEAT, U.S. No. 1, Hard Amber Durum for Flour Milling
Imperial $14.83-15.00 NC, June-July Del Local
Imperial $14.84-14.98 NC, June-July FOB