Hours:Pasco Office Hours: 7:00 AM to 4:00 PM Monday -Thursday 7:00 AM-12 PM Friday Pasco Elevator Hours: 7:00 AM to 5:00 PM Monday-Thursday; Closed Friday Saturday & Sunday Burbank Elevators Hours: 7:00 AM to 4:30 PM Monday-Thursday; Closed Friday Saturday & SundayNOTE: ALL PRICES ARE NOW DELIVERED PASCO, NOT PORTLAND Contact us if you want our bids sent by text or email daily
Office #509-545-0900 & Elevator #509-545-5179.
Call Tri-State Seed for all of your seed needs.
Contact Mason or John at 509-234-2500
Commentary
4/28/24: No commentary Wed-Friday last week as we were short handed in the office with a few people travelling for work. Randy was a one-man merchandising machine though so you may not have noticed as he handled it with ease. It was poor timing though given that the market moved aggressively higher on dryness in Russia, Australia, and key parts of Kansas. The key to us is the dryness in Russia. Russian crop was projected around 90 million metric tons for the upcoming crop year. Prior to these dryness concerns there were rumblings that it could push 100 million metric tons. So, the 90 million metric marker feels important moving forward. If dryness continues and we start to see projections fade back into the 80s firmness should continue. The smaller Russia’s crop can get the better chance we have at some added US exports. Some Euro models show portions of Russia and Ukraine getting good moisture over the next two weeks which would likely stabilize the crop if realized and take the winds out of the rally. Forecasts to end the week showed better chances for moisture in US wheat areas as well over the next 5 days. Last week Kansas City and Chicago futures rallied 70+ cents while spring wheat played follower moving 50+ cents. The rally was met with strong farmer selling throughout the country for both old and new crop wheat. It is important to remember the surpluses we had going into this rally, and how good conditions were to begin the spring. We are of the opinion that this rally and firmness can easily continue as we tend to overdue dryness concerns/weather markets. Funds have been short as well, so the ammunition is there if dryness continues for things to keep pushing higher. BUT it does feel a lot like the dryness and weather concerns we experienced last year with US corn. Corn rallied a $1 per bu on way to early June dryness concerns, then proceeded to lose $2 per bu from July on. Fundamentally US wheat faces a major uphill battle over the next year and until we see a change in demand structure it will be hard to trust these rallies. Advise to continue to sell wheat into them. Wheat exports for the week totaled 454K MT, majority new crop sales, spring wheat made up 144K of it and SWW 150K. Corn exports were strong at 1,562K combined old and new crop. Beat expectations with the main buyers being Mexico South Korea Japan and Saudi Arabia. Soybean exports were poor at 331K combined old and new crop, barely above the low end of expectations.
* Please call with BOLS counts for the upcoming wheat harvest. ***Tri Cities Grain now offering Grain Settlement ACH Payments as well as Vendor ACH payments. 1 page form to fill out in order to set up the process. Please call with any questions Click here for the ACH Payment form
Cash Bids Delivered TCG; No Additional Fees or Fuel Surcharges Deducted
Quotes are on 15 min delay with futures markets. Please call to confirm pricing
Futures Quotes
Quotes are delayed, as of April 28, 2024, 07:08:46 PM CDT or prior.
Commentary
Cattle Regain Strength to Round Out Week -
Cattle futures are continuing to shrug off the Wednesday overreaction, as contracts are up another 60 cents to $1.52 at midday. Cash trade kicked Corn Settles 1 to 3 Lower on Friday, Still Up 6+ Cents for Week -Corn settled 1 to 3 cents lower on Friday, with nearby May the firmest and May 2025 seeing the biggest day to day net loss. The solid export sales Cotton Futures Mixed Going into Weekend -Cotton futures settled lower on Friday, by 18 to 39 points. Nearby May is in deliveries, and only one trade was reported for the entire day, at Hogs Correction Continued on Friday -Lean hogs hit their high for the week on Tuesday and spent the rest of the week fading the early rally. Futures settled $1.00 to $2.525 lower on Wheat Rally Continues into Weekend, KC Up 64 ¾ Cents For Week -Wheat bulls continued their assault on the heights (or at least foot hills given the size of the decline in recent months) on Friday. Kansas City Soybeans Hesitant to Head Higher on Planting Delays -Soybeans settled 3 ¼ lower to 3 cents higher on Friday, with delivery months out through January 2025 in negative territory and the rest of the Full commentary... |
|
National Newswire
Washington USDA Newswire
Useful Links
|
|
NOAA Weather
|